Apple has launched a “Bay Area Housing Innovation Fund” in a push to bolster affordable housing.
CUPERTINO — Apple has launched what it calls a “Bay Area Housing Innovation Fund” that the iPhone maker hopes will help bolster the development of more affordable homes in the region and adjacent areas.
“We believe everyone deserves a place to call home,” said Kristina Raspe, Apple’s vice president of global real estate and facilities. “Apple’s $2.5 billion initiative is supporting more affordable housing options across the state.” One of the affordable projects will sprout in San Francisco and the other is slated to rise in Santa Cruz.
Cupertino-based Apple is teaming up with Sobrato Philanthropies, Destination: Home and San Francisco Housing Accelerator Fund to launch the Bay Area Housing Innovation Fund. The company’s $1.6 billion effort is assisting affordable housing developers to build or preserve more than 10,000 residential units with more than 90 projects in California, Apple said.
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