Apple Pledges $2.5 Billion For Bay Area Housing
by Peter Zerzan
Nov 05, 2019

Apple has joined Facebook and Google in committing money to deal with the housing crisis in the Bay Area. $1 billion will be a line of credit put aside for shovel-ready projects. Another $1 billion will be put aside for a state-run mortgage assistance fund for first time home buyers. Housing non-profits will also be receiving cash and Apple has pledged to build 3,500 units of housing on property they own in San Jose. The move comes after criticism from Oakland Mayor Libby Schaaf last year, where she called out Apple and the city where it is located, Cupertino, for not doing enough to help with housing while putting a strain on housing in her city.