Amazon sought to tamp down fears about displacing residents around its new Northern Virginia headquarters with a pledge last year to create and preserve thousands of affordable housing units in the D.C. area’s notoriously tight market.
But more than 14 months and $750 million into that effort, the help is overwhelmingly flowing to renters with incomes on the high end of a range the company targeted, according to a Washington Post analysis of company data.
Amazon’s Housing Equity Fund is a voluntary endeavor, and many local officials have praised the tech giant for committing so much money to address a long-standing shortage of affordable housing. Others argue that Amazon can and should do more, in part because the company — which earned about $33.4 billion last year — stands to profit from interest on the loans it is volunteering. (Amazon founder Jeff Bezos owns The Post.)
Click here to read the rest of the article written by Teo Armus over at The Washington Post
