"Cupertino-based Apple is among the companies that are providing significant funding this year. Apple's financing level wasn't disclosed. The tech titan has intensified its efforts to bolster affordable housing in recent years. This fund gives us the flexibility to meet the challenges of today while building the affordable housing systems our region will need tomorrow, said Noni Ramos, chief executive officer of the Housing Trust. Even in a moment when many are retreating, our partners are boldly stepping forward."
"We believe everyone deserves a place to call home, said Kristina Raspe, Apple's vice president of global real estate and facilities. Apple said it was happy to team up again with Housing Trust Silicon Valley, with which the tech company has partnered for years Together, we're able to find new solutions to complex challenges that prioritize people, our communities, and environmental sustainability, Raspe said."
"Housing Trust Silicon Valley has launched a $200 million fund that's being crafted to fuel a greater pace of affordable residential development in the Bay Area and named Apple as its 2025 Housing Champion. The regional organization said the new financing endeavor, which the Housing Trust describes as a landmark fund, would be used to create or preserve 7,400 units of affordable housing in the Bay Area."
Housing Trust Silicon Valley launched a $200 million fund aimed at accelerating affordable residential development across the Bay Area and named Apple as its 2025 Housing Champion. The fund targets creation or preservation of approximately 7,400 affordable units. Cupertino-based Apple and several banks including U.S. Bank, PNC, Wells Fargo, and Mechanics Bank are providing financing. Examples of projects include a 113-unit Regional Street Apartments in Dublin and a 70-unit Pacific Station South project in Santa Cruz. Leadership emphasized the fund's flexibility to address current challenges while building future affordable housing systems and noted prior collaboration with Apple's Affordable Housing Fund.
Read at www.mercurynews.com
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