Amazon to contribute $10.6M in loans, to affordable housing in Nashville

Renderings show design plans for the 96-unit mixed-income Cherry Oak Apartments development next to the Metropolitan Development and Housing Agency's headquarters in East Nashville.

  • Amazon’s contributions include $7.1 million in low-interest loans.
  • The company will provide a $3.5 million grant to nonprofit CrossBridge.
  • The money will go toward affordable housing projects in East Nashville and Rutledge Hill.

Amazon will contribute $10.6 million in low-interest loans and grants to build or renovate more than 130 affordable units in East Nashville and Rutledge Hill, the company announced Wednesday.

The commitment includes a $7.1 million loan to the Metropolitan Development and Housing Agency for the construction of the Cherry Oak Apartments, which broke ground in East Nashville Wednesday morning.

A $3.5 million grant to Nashville nonprofit CrossBridge will help fund the creation 50 new units and 34 renovated units for adults overcoming addiction.

The pair of investments are Amazon’s first concrete contributions to the creation of new affordable housing in Nashville.

The funds are drawn from the company’s $2 billion Amazon Housing Equity Fund, and are separate from a commitment the company made last June to provide $75 million in low-interest loans to preserve at least 800 Nashville rental units near WeGo public transit routes. Specific investments from that $75 million commitment have not yet been announced.

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