Affordable housing project rises on former Amazon HQ property

[Yo_Mama_Been_Loggin]

Construction is underway on the first phase of a 270-unit affordable housing development on top of Seattle's Beacon Hill, where Amazon's headquarters operated.

The Seattle Chinatown International District Preservation and Development Authority on Wednesday announced the closing of construction financing for the seven-story "Building A" adjacent to the historic art deco Pacific Tower.

The first phase of SCIDpda's North Lot project will have 160 rent-restricted apartments and a 10,000-square-foot child care center. "Building B" will also be seven stories, adding 110 units of affordable family apartments.

-snip-

Seventy percent of the units will be restricted to tenants with household incomes at 50% of the area median income (AMI). The remaining 30% of the units will be restricted to tenants with household incomes at 60% of AMI. Around a fifth of the homes will be three- to four-bedrooms and a third will be two-bedrooms.

https://www.bizjournals.com/seattle/news/2022/12/01/housing-project-rises-former-amazon-headquarters.html

[ShazamIam]

1. all that means is that Bezos will profit from the working class, I don't think they will be housing

anyone from the current homeless population and you can bet it has government tax money as well along with arm twisting money for avoiding permit and environmental and other rules.
Yes, the story is a fine bit of PR work here are other articles about the project.


https://www.commondreams.org/news/2018/09/13/after-pressuring-seattle-forgo-corporate-tax-fund-affordable-housing-bezos-commits

https://mynorthwest.com/2431845/amazon-bezos-affordable-housing-fund-geekwire/

https://www.bizjournals.com/seattle/news/2022/12/01/housing-project-rises-former-amazon-headquarters.html

[Yo_Mama_Been_Loggin]

2. Amazon a publicly traded company

If there's a profit on this it'll be the shareholders who are not just Bezos.

That said the third article you linked to is the one I posted. It says who is eligible to live in these units.

[ShazamIam]

3. Ok, but please understand my argument is not with you but with the article and did support

the fact that this is a tax funded housing project that Bezos contributed to in order to avoid a larger tax.
Yes I agree with the irony of my posting your article which excluded the tax funding.

[Yo_Mama_Been_Loggin]

4. Bezos no longer works for Amazon

Though he remains a major shareholder.

Andy Jassy is the current CEO and has been so since last year.

The article I posted doesn't even mention Bezos. Whether he donated or received a tax break I don't really care.

The fact is we have a major housing affordability problem in this area. Anything that can be done to help alleviate the situation is okay with me.