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Apple commits $2.5 billion to address California’s housing crisis and homelessness issues

November 4, 2019

Apple announced this morning a significant $2.5 billion commitment towards easing the California housing availability and affordability crisis. The investment includes a $1 billion commitment to an affordable housing investment fund, $1 billion towards a first-time homebuyer mortgage assistance fund, and $300 million in Apple-owned land which will be made available for affordable housing.

Another $200 million will go to support new, lower-income housing in the Bay Area including by way of a $150 million Bay Area housing fund, with partners like Housing Trust Silicon Valley. This will consist of long-term forgivable loans and grants. Another $50 million will be directed towards vulnerable populations, specifically to address homelessness in the Silicon Valley area.

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