Google pledges $1 billion to ease Bay Area housing crisis
MOUNTAIN VIEW — Google on Tuesday announced a stunning $1 billion commitment to ease the Bay Area’s housing crisis, pledging to add about 20,000 homes across the region.
It is the largest single commitment from a tech company to fight the housing shortage that threatens to stall the economic engine of Silicon Valley, as even well-paid workers wrestle with escalating rents or finding a home to buy.
“We look forward to working with Google to ensure today’s announcement manifests into housing that will benefit thousands of San Jose residents struggling under the burden of high rents,” San Jose Mayor Sam Liccardo said in a statement.
The initiative comes as Google faces enormous pressure to alleviate the impact of its rapid growth, particularly as it plans a transit-oriented mixed-use campus in downtown San Jose where 15,000 to 20,000 of its employees would work.
Read more: https://www.mercurynews.com/2019/06/18/1-billion-google-plan-ease-bay-area-housing-crisis-tech/
(San Jose Mercury News)
