Apple Allocating $400 Million to California Affordable Housing and Homelessness Projects in 2020

Apple ad On Monday, it will allocate more than $ 400 million to affordable housing projects and homeowner assistance programs in California in 2020. Projects launched this year will include affordable housing developments funded in partnership with Housing Trust Silicon Valley.

Apple supports new affordable housing in the Bay Area

Apple’s partnership with Housing Trust Silicon Valley is moving forward with its first four projects, supporting affordable housing developments in the North, East and South Bay areas. This will create 250 new affordable housing units in the Bay Area.

In addition, in collaboration with the California Housing Finance Agency (CalHFA), Apple has launched a new housing investment support program. The objective is to increase the availability of financing for new housing with very low to moderate income. This partnership has already supported hundreds of first-time buyers from a wide range of communities through a mortgage and down payment fund. Apple said the program also offers additional benefits to teachers, veterans and firefighters.

Kristina Raspe, Apple’s vice president for global real estate and facilities, said:

At a time when so many members of our community are facing unprecedented challenges, we believe it is essential to ensure that their hopes for the future are supported by tangible programs and results. As cities and states have been forced to halt many of their long-term investments in affordable housing amid the current public health crisis, Apple is proud to continue its comprehensive plan to tackle the housing crisis by California.

Join the fight against homelessness

Apple is also supporting a project called Destination: Home. He helped finance the construction of 1,000 new affordable and supportive housing units for vulnerable Silicon Valley residents and expanded the organization’s homelessness prevention system. The new units include the development of 80 units in Santa Clara for the homeless or at risk seniors. The expansion of the homelessness prevention system has seen an annual increase of 67%, so in families protected from homelessness, totaling 1,500. All this is part of Apple’s commitment of 2.5 billion dollars to help alleviate the California housing crisis in November 2019.

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