Facebook commits $1B to tackle affordable housing in California, other locations

California is in the midst of a serious housing crisis with ramifications that stretch across the state. In the Bay Area, the crisis is often at its most visible due to the presence of tech mega-corps and the influx of highly paid tech workers that have exacerbated the problem.
It hasn’t been uncommon for some of these huge tech companies to take some responsibility for the issues and invest back into organizations seeking to promote affordable housing. In Seattle, Microsoft and Amazon have announced initiatives. In the Bay Area, Google recently announced a $1 billion 10-year-plan — and now Facebook is doing the same.
In a blog post attributed to Facebook CFO David Wehner, the company announced they’ve set aside $1 billion to tackle affordable housing; they’re hoping this initiative will lead to the creation of “up to 20,000 new housing units.”
This, of course, isn’t going to be some lump-sum check sent to the California government; it’s divvied up into a few different initiatives.
Quelle und weiterlesen: https://techcrunch-com