Google’s $1 billion, 10-year plan to build thousands of home in Bay Area

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Google CEO Sundar Pichai in a blog post announced that the Search Engine Giant will be contributing more to the social issues like Housing, which is currently a crisis in the Bay Area.

The massive growth of Tech Companies in the Bay Area has impacted living in the area with a massive increase in the price which has left the poor to suffer for living and Google is also one on the company that has faced criticism and protests by the residents or you can say, former residents.

San Francisco is one of the most expensive places in the world right now, and people in the Bay Area are suffering to find affordable houses in the area which has led to major protests against Tech Giants in the Bay Area.

To mend this concern, Google has undertaken a billion-dollar plan that will add thousands of new homes to the Bay Area over the next 10 years.

$750 million of that comes in the form of remodeling its own commercial real estate for residential purposes which will add 15,000 new homes for all income levels.

However, the blog post doesn’t explain how this plan will help to improve the “lingering shortage of affordable housing” in the area and where these affordable houses will be built.

Google will establish a $250 million investment fund so that the can provide incentives to enable developers to build at least 5,000 affordable housing units across the market.

In addition to the housing Google has always been partnered with NGOs to the social works and it will be expanding its giving under to $50 million this year which was $18 million total of five years and the company hopes that it will make immediate effect to shelters, clinics and other resources alive.

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