Washington Metropolitan Area Transit Authority

In June 2021, WMATA and Amazon announced a commitment to create 1,000 units of affordable housing at Metro Stations within the Washington, DC Metropolitan Area by 2025 through the provision of low-rate financing Of Amazon’s $2B Housing Equity Fund, $125 M is set-aside for projects on WMATA-owned land. Since June, WMATA and Amazon have worked together to deploy funding to projects. ​

The first two loans from Amazon at the College Park and New Carrollton metro stations were announced in March 2022 and have resulted in 742 units of affordable housing that will deliver in 2024. Amazon’s commitment provided important gap financing that allowed both projects to accelerate delivering housing months if not years earlier than planned and have converted 100% of units at both projects to units affordable at 80% of AMI for the life of the ground lease (98 years).  The Amazon/WMATA partnership ensures that these projects will provide vital housing opportunities for low- and moderate-income families as these communities continue to grow and market rents increase.