Conference Reading: Google invests $50 million to build low-income housing in the Bay Area

Google on Wednesday invested $50 million to build low-income homes around the Bay Area, taking a step toward fulfilling the lofty $1 billion housing promise the tech titan made last month. The Mountain View-based search giant will invest the money in Housing Trust Silicon Valley’s TECH Fund — a program launched in 2017 that uses money from local companies and large organizations to fund affordable housing. Google’s $50 million contribution marks the fund’s largest investment to date, and comes as Bay Area tech companies increasingly are attempting to help mitigate the housing shortage that has driven prices sky-high across the Bay Area. It’s a crisis those tech companies often are blamed for helping to create, as they flood the region with high-paying jobs that drive up housing demand and prices. (Mercury News)

Read Full Article