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So, about that $20 million that Amazon has offered up to Arlington's Affordable Housing Investment Fund. Let's be clear on what this contribution is. It's not an act of charity. It's Amazon meeting county requirements. (continued) @wamu885
With that $20 million contribution to affordable housing funds, Amazon is meeting standards that apply to companies that want to build bigger buildings than zoning allows. (continued)
In simple terms: In Arlington, if a developer wants to build bigger than they'd normally be able to, they have to make a contribution of some kind to affordable housing. They can build the housing themselves, either on or off-site. Or they can make a cash contribution. (cont)
Amazon took the cash route. They negotiated with the county on this. The $20 million contribution is "a combination of requirements of the Zoning Ordinance and as partial compensation for the additional density being requested," according to the site plan.
It's true that $20 million is a significant contribution to Arlington's affordable housing loan fund. But it's not Amazon going above and beyond. They're meeting the bare minimum in exchange for more square footage. (continued)
Think about it from Amazon's perspective. Why would the company exceed county requirements for affordable housing? That could set a costly precedent for future developments in other places.
This is a company that is extremely pragmatic and playing the long game.
That is all.
This is a company that is extremely pragmatic and playing the long game.
That is all.
