Apple is showcasing one of the many projects it is invested in as part of the company’s commitment to combat the housing crisis in California.
In a press release, the company showcased Veterans Square, a new 30-unit apartment building that was built for veterans and “individuals who have been identified as having the greatest need for housing.” The building, which was opened in March, is part of the company’s $2.5 billion commitment — $1.3 billion of which has already been deployed across partnerships with the California Housing Finance Agency (CalHFA), Destination: Home, and Housing Trust Silicon Valley.
Kristina Raspe, Apple’s vice president for Global Real Estate and Facilities, said that projects like Veteran’s Square represent “tangible progress” towards solving the housing crisis in the state.
“We’re incredibly proud to see families and neighbors moving into new homes as a result of our partnership with affordable housing organizations across California. Apple is committed to finding real solutions that can help our communities thrive, and these new projects represent tangible progress toward making that promise a reality for so many of our fellow Californians.”
Apple is chipping in on home ownership as well
In addition to apartment projects like Veteran’s Square, the company is also partnering with CalHFA to provide mortgage and down payment assistance to low and moderate-income first-time homebuyers. According to the company, those efforts have unlocked funding for 2,000 units across the state.
Destination: Home works to end homelessness in Silicon Valley, and Apple’s support has helped the nonprofit expand its Homelessness Prevention System, which has provided financial and rental assistance to more than 20,000 families during the COVID-19 pandemic. Apple’s support has also helped Destination: Home fund nearly 1,700 units of supportive and extremely low-income housing in the Bay Area, and extend Wi-Fi to several housing communities.
Apple says that its partnership with Housing Trust Silicon Valley has resulted in the funding of 10 affordable housing projects across the Bay Area, including in San Francisco, San Jose, Santa Cruz, and Santa Rosa, with even more projects in the near future.
You can learn more through the press release (opens in new tab).