Microsoft and Amazon, despite being fierce competitors in the tech industry, have joined forces to address the housing crisis in Washington state. Their collaborative efforts were highlighted in a recent op-ed and full-page ad in The Seattle Times, where they emphasized the urgent need for action to combat the housing emergency in the region.
The tech giants acknowledge the severity of the housing crisis in the Seattle area, recognizing its impact on the state’s overall well-being, health, and economic competitiveness. Brad Smith, Microsoft’s vice chair, and president, along with David Zapolsky, Amazon’s chief global affairs and legal officer, penned a joint byline underscoring the critical nature of the situation.
Both companies have individually pledged substantial investments totaling $1.6 billion to develop and preserve over 26,000 affordable homes in the region. Despite these efforts, Smith and Zapolsky assert that more needs to be done to address the underlying supply shortage, emphasizing the necessity of constructing a greater variety of housing options.
In their plea to Washington lawmakers, Microsoft and Amazon are advocating for the passage of several bills, including SB 6026, which aims to enable residential construction on commercial properties such as strip malls and large retail stores. They also commend Governor Bob Ferguson’s proposal to allocate $225 million in bonds to the state Housing Trust Fund.
Highlighting the competitive landscape, the tech giants caution that delayed action may result in developers seeking opportunities in other states with more favorable conditions. They stress the importance of enacting policies that align with current market dynamics, rather than pursuing idealistic measures that may hinder progress.
This united front from Microsoft and Amazon follows the release of a comprehensive report by Microsoft outlining key insights from their housing initiatives. The report serves as a valuable resource for understanding the complexities of the housing market and the strategies needed to address the prevailing challenges.
