Apple allocates more than $400M to address California’s housing crisis

Apple is all set to contribute to addressing California’s homelessness issues and housing crisis by allocating more than $400 million towards homeowner assistance programs and affordable housing projects in the state.

According to Apple, this funding will be of huge help to thousands of Californians with new, affordable housing units or first-time homebuyer assistance. 250 new units of affordable housing will be launched in 2020 across the Bay Area as a part of this funded project.

These funded private-public developments are as a result of the partnership with Housing Trust Silicon Valley. Moreover, these units will not only stay limited to this but will expand to the North, East, and South regions by including a lot many units in this program from those reserved for veterans, residents with developmental disabilities to the homeless, or formerly homeless.

Apple allocates
Apple allocates

The tech giant didn’t stop their funding program here. In assistance with the California Housing Finance Agency (CalHFA), Apple is all ready to offer an affordable housing investment support program along with a mortgage and down payment assistance fund.

Moreover, Apple has previously provided mortgage and down payment assistance to hundreds of people along with offering additional benefits that would be reserved for teachers, firefighters, and veterans. 

In addition to that, the CalHFA’s assistance program is pretty diverse as it inculcates over 65% of their borrowers from communities that are identified as Black, Hispanic, Pacific Islander, Asian, or American Indian.

This month Apple will be seen aiming at funding the development of new and very-low to moderate-income housing at a lower cost as they are all set to launch an affordable housing investment support program with CalHFA. This program has attracted the eyeballs as it is expected to give way to a number of affordable housing units over the next five years in California.

Moreover, the tech giant has also extended its support to the homeless in the Silicon Valley Area by supporting the construction of affordable housing units through a partnership with

Aishwarya parab
A young aspiring content and creative writer, engaging in making some amazing content in the fields of media, entertainment, technology, digital marketing and photography.


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