Google to invest $1 billion in housing construction in San Francisco over the next 10 years


Google CEO, Sundar Pichai, told about the plans of the corporation to invest in housing construction in the San Francisco Bay Area over the next decade Bay area. According to him, $750 million will be allocated for the construction of about 15,000 homes for Americans with different income levels. Funds planned for the maintenance of office and commercial premises will be reduced. The company also intends to create an investment fund to support developers in the construction of about 5 thousand units of affordable housing. 250 million dollars will be allocated for this purpose. Non-profit organizations will receive grants in the amount of $50 million from the company to address the problems of homelessness and population displacement. In the San Francisco Bay Area, housing has risen in price recently against the backdrop of a growing number of high-income Silicon Valley technology companies.

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