While you may associate Apple with laptops and extra phones, rather than charities, the giant is making significant investments in affordable homes.
No less than $ 2.5 billion wants to invest in Apple’s housing program for the needy in California. In the context where the US state has a major problem with the street, and the house price has exploded due to the workers from Silicon Valley, the giant from Cupertino wants to participate financially in remedying the unpleasant situation.
By the end of the year, Apple will be investing no less than $ 400 million in affordable housing projects, according to a statement posted on the company’s official website. Part of the money will be allocated to financing programs similar to Prima Casa in Romania, intended for those trying to buy their first home. In the next few years, Apple will stop spending $ 2.5 billion on this project dedicated to the good of the community.
In practice, $ 400 million will be used in partnership with the Silicon Valley Housing Trust to create 250 affordable homes in the North, East and South Bay regions. At the same time, the company led by Tim Cook will create a special mutual fund together with the California Housing Finance Agency (CalHFA). Some of the money will also go to Destination: Home foundation to help people on the street.
The new program initiated by Apple is aimed primarily at certain sections of the population. It̵
Apple’s financial efforts complement the similar gestures from Microsoft and Google in recent years. The Bill Gates-based company has invested $ 500 million to fix the Seattle housing problem. Google bought $ 750 million for affordable housing and invested $ 250 million to facilitate the construction of 5,000 affordable housing.