For-profit developer lands $16M from e-commerce giant for 271 units
Amazon has delivered a different sort of package to a residential developer with plans for an affordable residential complex in South Seattle.
The Seattle-based e-commerce behemoth’s Amazon Equity Housing Fund provided a $16 million loan on undisclosed terms for the 271-unit project, the Puget Sound Business Journal reported.
The loan will clear the way for Housing Diversity Corporation, a for-profit developer, to start construction in coming weeks on Atrium Court at 7324 Martin Luther King Jr. Way S.
The project calls for a total of 148,000 square feet over eight floors on the half-acre site near the Othello light-rail station. The current plan calls for about 2,000 square feet of ground-floor retail.