Google announced a $1 billion investment to ease the housing crisis in the San Francisco Bay Area, pledging to add about 20,000 homes to the region over the next decade.
According to a CBS article the tech super giant is stepping in to help their community in a big way. “
Google on Tuesday announced a $1 billion investment to ease the housing crisis in the San Francisco Bay Area and to add about 20,000 homes to the region over the next decade.
As part of that effort, the internet company plans to convert at least $750 million of its own land, currently zoned for office or commercial space, to support 15,000 homes, according to a blog post from Google CEO Sundar Pichai. The technology giant will also establish a $250 million investment fund to incentivize developers to build an additional 5,000 affordable housing units.
“We hope this plays a role in addressing the chronic shortage of affordable housing options for long-time middle and low-income residents,” Pichai wrote.”
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