SEATTLE — Amazon has committed to invest $81.7 million to build 742 new affordable homes near public transit sites in the metro Washington, D.C. region. The new housing commitments included in Amazon’s recent investment include The Margaux at the New Carrollton Metro Station and Atworth at the College Park Metro Station.
Amazon will work in collaboration with the Washington Metropolitan Area Transit Authority (Metro) to complete the housing developments. The deals are related to Amazon’s $300 million transit commitment from 2021 to create 3,000 new affordable homes in collaboration with the transit agencies in Amazon’s hometown communities.
In partnership with Metro and developer Urban Atlantic, Amazon is developing The Margaux at the New Carrollton Metro Station, a 291-unit property with one-, two- and three-bedroom floorplans. Amazon is providing $25.4 million to Urban Atlantic to begin construction on the project.
Atworth at the College Park Metro Station will be a 451-unit apartment property close to the University of Maryland and the Discovery District, as well as the MARC Train, University of Maryland Shuttle Service and Metro’s under-construction Purple Line. Amazon is funding a $56.3 million loan to the Gilbane Development Co. to begin construction.
Since launching the Amazon Housing Equity Fund last year, the Seattle-based e-commerce giant has committed more than $795 million in loans and grants to create and preserve more than 4,400 affordable homes in the Arlington, Va. and D.C. region.