Apple is the latest technology giant to commit billions to combat the affordable housing crisis, following similar pledges from Facebook, Google, and Microsoft. The Silicon Valley company announced a $2.5 billion plan to address housing availability and affordability in California.
“Before the world knew the name Silicon Valley, and long before we carried technology in our pockets, Apple called this region home, and we feel a profound civic responsibility to ensure it remains a vibrant place where people can live, have a family, and contribute to the community,” said Apple CEO Tim Cook. “Affordable housing means stability and dignity, opportunity and pride. When these things fall out of reach for too many, we know the course we are on is unsustainable, and Apple is committed to being part of the solution.”
Through its commitment, Apple will help accelerate and expand housing production, jump-start long-term developments, aid first-time buyers purchase homes, and support housing and programs to reduce homelessness.
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