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Apple unveils USD 2.5 bln plan to combat affordable housing crisis in California

2019-11-05 09:33:00| Telecompaper Headlines

(Telecompaper) Apple has announced a USD 2.5 billion plan to make housing more affordable and available in California. Working with California Governor Gavin Newsom and a number of community-based organisation, Apple said it will invest in statewide housing support and help fund projects in Silicon Valley and the Bay Area. The state has seen prices jump for renters and homebuyers over the past few years, leaving many people behind. Apple noted that almost 30,000 people left San Francisco between April and June of this year and that homeownership in the Bay Area was at a seven-year low. The financing plan should take two years to become fully available. Capital returned to Apple will be reinvested into future projects over the next five years.

Tags: plan california usd apple

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