{"id":21847,"date":"2019-11-05T12:13:57","date_gmt":"2019-11-04T23:13:57","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=21847"},"modified":"2019-11-05T12:13:57","modified_gmt":"2019-11-04T23:13:57","slug":"apple-makes-massive-housing-splash-with-2-5-billion-pledge-international","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/apple-makes-massive-housing-splash-with-2-5-billion-pledge-international\/","title":{"rendered":"Apple makes massive housing splash with $2.5 billion pledge | INTERNATIONAL"},"content":{"rendered":"

PHOTO:\u00a0Apple\u2019s new campus opened in Cupertino in 2017<\/strong><\/p>\n

Dwarfing all other Bay Area tech commitments, Apple on Monday stepped up to fight the California housing crisis in a big way \u2014 pledging an unprecedented $2.5 billion to the cause.<\/p>\n

Apple\u2019s pledge includes invested and donated funds, as well as real estate, intended to help produce new affordable housing and help first-time homebuyers in the Bay Area and throughout California over the next two years. The move comes on the heels of funding commitments by\u00a0Google<\/a>\u00a0and\u00a0Facebook<\/a>\u00a0\u2014 which each pledged $1 billion earlier this year \u2014 as local companies increasingly are making an effort to address the housing shortage that\u2019s been exacerbated by the Silicon Valley tech boom.<\/p>\n

\u201cBefore 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,\u201d Apple CEO Tim Cook wrote in a news release. \u201cAffordable 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.\u201d<\/p>\n

READ MORE VIA MERCURY NEWS\u00a0<\/a><\/p>\n