Urban League of Middle Tennessee Announces a $5 million Grant from Amazon, Supports the Housing Equity Accelerator
The Urban League of Middle Tennessee announced a $5 million grant from Amazon in support of the Housing Equity Accelerator, an initiative to help build the next generation of real estate developers of color while also increasing affordable housing in Nashville. The program, which is free of charge to participants, aims to foster careers and lower the obstacles that these emerging real estate developers can face when trying to get real estate projects off the ground. Learn more about this program and apply here: https://www.ulmt.org/
This funding is the most recent commitment from Amazon’s Housing Equity Fund, which was established to preserve and create over 20,000 affordable homes in Amazon’s hometown communities--the Puget Sound region of Washington state, the Arlington, Virginia region, and Nashville. Collectively, Amazon is committing more than $21 million to launch similar programs for emerging real estate developers of color in all three locations.
In Nashville to date, the Housing Equity Fund has committed $75 million in below-market capital for developers to create 800 affordable homes in the region near WeGo high-capacity transit corridors. Additionally, Amazon also donated $2.25 million to Nashville nonprofit, The Housing Fund, in 2020 to help homeowners experiencing financial hardship due to rising housing costs.