By HALELUYA HADERO (AP Business Writer)

NEW YORK (AP) — Amazon is adding $1.4 billion to a fund it established three years ago for preserving or building more affordable housing in regions where the company has major corporate offices, CEO Andy Jassy announced Tuesday.

The Seattle-based company said the new sum would go on top of the $2.2 billion it had already invested to help create or preserve 21,000 affordable housing units in three areas: the Puget Sound in Washington state; Arlington, Virginia; and Nashville, Tennessee. When it launched its Housing Equity Fund in January 2021, Amazon said it aimed to fund 20,000 units over five years.

The additional money will go to the same regions with a goal of building or maintaining an additional 14,000 homes through grants and below-market-rate loans. To date, most of the funding went to non-profit and for-profit developers in the form of loans that allow Amazon to earn revenue through interest payments. Amazon said 80% of the units also benefited from government funding.

Like other tech companies that have made similar investments, Amazon launched its affordable housing fund following years of complaints that well-paid tech workers helped drive up housing costs in regions where their employers had set up major hubs.

Housing advocates in cities like Seattle and San Francisco have long blamed an influx of corporate workers for driving up the demand for housing and pricing out long-time residents.

Alice Shobe, the global director of Amazon Community Impact division, said 59% of the units Amazon supported so far have been preservation projects that make use of existing housing. They include donations and loans to nonprofits and local government agencies that can purchase buildings and stabilize rents, or otherwise maintain naturally occurring affordable housing.

In addition to maintaining housing stock, such projects prevent private developers from remodeling apartment buildings and putting the units on the market at much higher prices, Shobe said in an interview.

“We’ve made a big difference in both the amount and quality of affordable housing in these three communities,” she said.

Amazon targets its investments to provide housing for individuals with low-to-moderate incomes, which the company defines as those earning 30% to 80% of a given region’s “area median income.” The company has said it wants to focus on what it calls the “missing middle,” a demographic that includes professionals like nursing assistants and teachers who don’t qualify for government subsidies but still struggle to pay rent.

In September, Amazon made a $40 million investment to drive home ownership in the three regions. But the rest of the money so far has gone toward apartment buildings.

The company previously received some criticism in Northern Virginia for neglecting the housing needs of people on the lower end of the income spectrum. Projects designed for such individuals are likely to require more government subsidies and take longer to complete, said Derek Hyra, a professor at American University and a founding director of the Metropolitan Policy Center.

Shobe said Amazon has worked to maintain a “mixed portfolio” without losing its focus on the missing middle. Currently, the company says most of the units it has supported serve households earning less than 60% of the area median income, which goes up to $82,200 for a family of four in Washington state’s King County, where Seattle is located.

Companies like Amazon can help with the supply of affordable housing, but their money alone won’t do much to move the needle without significant investments from the federal government, according to Hyra.

“They have a good amount of money, but not enough money to solve the problem,” he said.

An internal Amazon memo that was leaked last year to the nonprofit labor organization Warehouse Worker Resource Center and posted online shows the company sees its philanthropy as a tool that can help it burnish its reputation.

According to a person familiar with the matter, the housing fund previously sat under Amazon’s government and corporate affairs division. However, it was moved to the company’s public relations arm when Jay Carney, Amazon’s former public policy and communications chief, left in 2022, the person said.

Frankie Capan III was staying with a host family in Raleigh, N.C., the night before his U.S. Open qualifying tournament this spring.

The North Oaks native was asked how many players would advance from the qualifier into the major championship. Capan hadn’t looked. But he had an answer ready.

“I’m not sure what it is,” he told them. “But I’ll tell you one thing: I know the winner always gets through.”

The next day, the 24-year-old shot 6-under par in the 36-hole qualifier to claim medalist honors and punch his ticket to the U.S. Open for the second straight year.

Frankly, Capan never tees it up with an expectation to do anything but win the tournament. That remains true this week at Pinehurst No. 2, back in North Carolina.

There’s no reason to be anything but confident at this juncture, given how Capan is playing entering the event. Along with winning the qualifier, he has placed in the top 10 in four of his past six Korn Ferry Tour events. Capan is currently ninth in the season-long Korn Ferry Tour standings, with the top 30 at season’s end earning promotions to the PGA Tour.

After a three-week stretch that featured three tournaments and the 36-hole qualifier, Capan took last week off to receive treatment on his knee in Arizona, while also managing a wrist ailment. He enters this week fresh, confident and armed with valuable information regarding what to expect from the course and the experience.

In just his second year of professional golf, Capan said he continues to understand more about himself and how to get the most out of his game. He referenced the great Jack Nicklaus, who noted the importance of knowing your game, how you react in situations and what shots you have that day, and which ones you don’t.

Essentially, the more you know yourself as a player, the better positioned you are to succeed. Capan is an avid student of the game and himself.

“I think it’s just constant growth and learning, and that’s been the fun part for me. Learning is fun in itself,” Capan said. “You learn the most by losing, so I think just acknowledging that and implementing it, just seeing the growth come to fruition is the most exciting thing, and it makes me want to work even harder.”

For instance, last year he learned he can’t play tournaments for seven consecutive weeks — it’s draining physically and mentally. This season, Capan wants to cap himself at three straight tournaments, barring any special opportunities that may arise.

“Your brain is a muscle, and I think that’s probably the first thing that starts going. For me, i always like being sharp when I compete. I like being well rested and sharp mentally. When I take care of the right things and am in a good spot, the results take care of themselves,” he said. “I want to play and put my best foot forward and do my best to win every event I play in.”

Including this one. That may sound crazy. Capan isn’t yet on golf’s top professional tour, though he appears to be well on his way. This week, winning requires besting the likes of Scottie Scheffler, Rory McIlroy and Xander Schauffele. He understands that, and believes he’s good enough to do it.

Capan played in last year’s U.S. Open at Los Angeles Country Club, and while he didn’t make the 36-hole cut, he got a front-row seat to view the game’s top talent. A pre-tournament stroll down the range last year led to sightings of McIlroy, Jon Rahm, Brooks Koepka and even former NBA star Blake Griffin. He has seen many of the long-tenured pros hit balls up close.

“I know I can hit the shots that they’re hitting,” Capan said. “And, frankly, I think I have a unique skill that I’m blessed with, and I think I can hit a lot of better shots.”

His current form suggests as much. Capan is long off the tee and a top-10 putter on the Korn Ferry Tour, per the data. A weakness a year ago, Capan’s iron play has been pristine this season.

He’s now an elite ball-striker who knows if a few putts fall, he can find himself in the winner’s circle at week’s end. Frequent flushing has allowed Capan to card rounds of 58 and 62 in recent weeks on the Korn Ferry Tour.

The 62 on a third-round Saturday in Knoxville put him in the lead ahead of the final round. He shot a bogey-free 66 on Sunday, finishing in second after Harry Higgs buried a long eagle putt on the second playoff hole to win.

Even on that day, Capan noted he missed a number of makeable putts. He said he may have been overly focused on the results of the putt, rather than just rolling the rock and letting the results follow.

“There’s a lot of things I’ve learned from (that experience),” Capan said, “and I look forward to the next time I put myself in that position.”

Maybe as soon as this week?

“That’s the plan,” he said with a laugh.

The fact is, guys don’t win in their second career major start. And Capan wasn’t close to contention at this tournament a year ago. But he’s playing much better right now, and circumstances are far different. Capan said he may have overprepared at last year’s U.S. Open as he tried to cram for the unfamiliar test that was L.A. Country Club.

Pinehurst No. 2 is a different story. He has played the course maybe 30 times, even winning a USGA event there.

“I could almost play it without a yardage book,” Capan said. “I could tell you pretty closely what I’m going to be hitting off of every tee, almost every day. So I think just being a little bit more comfortable with that. I’ve been through a major before, so I’m more familiar with the feelings and what’s going to go on while we’re out there.”

Which provides a feeling of comfort that may allow his talents to take over.

“If I have a certain feel and want to hit a certain shot, just let my body react to it and not think too much about it. All I can do is hit the best shot that I’m trying to hit, and the rest isn’t really up to me,” Capan said. “I truly believe that I’m the best player, no matter what tournament I play in. No matter if that’s right or wrong, you’re not going to be able to change the belief I have in that.”

He believes he belongs on this stage.

“Last year, I may have thought I need to play perfect. I have to hit all these good shots to beat these guys. But everyone is going to hit a bad shot now and again. It happens. So I think just allowing myself to be out there and have fun, hit golf shots,” Capan said. “I feel pretty confident in my game and the way I’ve been playing, to where I’m not going to go out there and try to do anything different than what I’ve been doing, just because I don’t believe I need to.”

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Lynx star Napheesa Collier joked that when she played for Team USA in the 2020 Summer Olympics in Tokyo, she would have been content simply getting water for some of her veteran teammates. Just one year into her WNBA career out of UConn, she was just happy to be on the team, so she wasn’t too surprised that she played sparingly during the team’s run to a gold medal.

It’s a little bit different this time around as Collier, 27, prepares for the 2024 Summer Olympics in Paris. Now the Lynx’s best player, the 6-foot-1 forward officially was announced as a member of the 12-player Olympics roster on Tuesday, and figures to be a key contributor for Team USA in its the quest for yet another gold medal.

“The goal is the same: To win gold,” she said. “No matter what that looks like for me, that’s what I want the result to be.”

The selection is very much deserved for Collier, who has taken her game to another level as of late. She is averaging 21.4 points, 11.4 rebounds, 3.5 assists and 2.2 steals through 11 games this season, and has the Lynx near the top of the league standings as a result. She currently is the only player in the WNBA this season to produce more than 200 points, 100 rebounds, 35 assists, 20 steals and 15 blocks.

Those stats speak for themselves as Collier has continued to take consistent steps forward throughout her career.

“I’m a better overall player, and I  think my basketball IQ is higher,” she said. “Hopefully I can showcase those skills.”

As for the level of competition worldwide, Collier promised that Team USA would not take any opponent lightly. Never mind that the Americans have dominated for decades, winning every Olympic gold medal in women’s basketball over the past 28 years — in 1996, 2000, 2004, 2008, 2012, 2016 and 2020. That doesn’t guarantee anything for 2024 as far as Collier is concerned.

“It’s going to take a lot,” she said. “The talent gets better and better every year. You want to knock down the person who’s on top, and we’ve been on top for so long, I know everybody is coming for blood.”

Team USA roster

Napheesa Collier (Minnesota Lynx)
Kahleah Copper (Phoenix Mercury)
Chelsea Gray (Las Vegas Aces)
Brittney Griner (Phoenix Mercury)
Sabrina Ionescu (New York Liberty)
Jewell Loyd (Seattle Storm)
Kelsey Plum (Las Vegas Aces)
Breanna Stewart (New York Liberty)
Diana Taurasi (Phoenix Mercury)
Alyssa Thomas (Connecticut Sun)
A’ja Wilson (Las Vegas Aces)
Jackie Young (Las Vegas Aces)

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