After all the complaints from Amazon employees about workplace safety and wages, I’m not surprised that the megacorp is getting into the affordable housing sector. Sadly, it’s not the dystopian future I had expected, where you buy or finance your new 8’x3′ pod from Amazon.
No. Instead, the company announced a homeownership program, according to The Business Times. Amazon won’t build houses directly but is working with the National Housing Trust to fund residential projects.
This collaboration will, in the NHT’s own words, be a pilot program where Amazon donates $40m that “will help enable the preservation and development of approximately 800 homes over the next decade in three targeted geographies, Washington State’s Puget Sound region; the Arlington, Virginia region; and Nashville, Tennessee.” Keep in mind that two of those locations are by Amazon’s headquarters.
Thankfully, this initiative isn’t going to act as a handout. Instead, the pilot program has the task of “identifying and funding organizations that are building affordable homes that will be made available to individual low- to moderate income homeowners in these communities.”
Eligibility for this program will be dependent on household income:
“The initiative does not directly lend to individual homebuyers and each partner leads their own homebuyer selection processes with specific criteria. Eligibility depends on a household’s income, not their status as first-time homeowners. However, we do expect that many of beneficiary households will be first-time homebuyers.“
Not only will this benefit potential homebuyers but also local construction businesses. Those builders looking to be part of this initiative must have a “track record of stewarding shared equity housing” and contact the NHT via this e-mail address: homeownership@nhtinc.org.
Should Amazon get further involved in the housing market? Maybe the company could go the route Sears did in the early 1900s and offer “kit homes” to Prime Members.
Let us know your opinions below.
[Source: The Business Times] [Source: NHT]ClownfishTV.com strives to be an apolitical, balanced and based pop culture news outlet. However, our contributors are entitled to their individual opinions. Author opinions expressed in this article do not necessarily reflect the views of our video hosts, other site contributors, site editors, affiliates, sponsors or advertisers. This website contains affiliate links to products. We may receive a commission for purchases made through these links. We disclaim products or services we have received for review purposes, as well as sponsored posts.
