Last November, Apple announced a $ 2,5 billion global plan to help resolve home downtime and high cost of renting and selling in California.
With rental prices and real estate sales soaring, due to the steady growth of large companies in the area, members of the social fabric of the community, such as teachers, firefighters, social workers, etc. they must leave their former home to live in other, more affordable areas, with the consequent care gap this creates.
Between April and June 2019 alone, nearly 30.000 people left San Francisco, and the number of homeowners in the San Francisco Bay Area is the lowest in the past seven years.
Unfortunately, the only solution that seems possible is to build the little free space that remains in the areas (38% in San Mateo County and 27% in Santa Clara) by building buildings that can accommodate all the middle class that is displacing.
Average rent is $ 2.000 per month in the Bay Area, while in Kansas City, Missouri, it is about $ 700 per month and in Tulsa, Oklahoma, about $ 600 per month.
“Before people knew the name Silicon Valley and long before we brought technology into our pockets, Apple called this region home and we feel a deep civic responsibility to ensure it remains a vibrant place for people to live., Have a family. and contribute to the community. Affordable homes mean stability and dignity, opportunity and pride. When these things are out of reach for many people, we know the direction we're taking is unsustainable and Apple is committed to being part of the solution. "
Tim cook
Housing Trust Silicon Valley - a nonprofit lending community, working to create a market for affordable housing in the Bay Area, which will manage the Apple Affordable Housing Fund, with a $ 150 million grant from Apple, with the goal of building affordable homes in the Bay Area.
Housing Trust, which has a long history of successful partnerships between public and private entities, will grant loans to qualified builders to access these funds for projects that require a specific and flexible capital contribution in order to move on to the construction phase. Builders are encouraged to submit their proposals through the Housing Trust website before the deadline of March 24, 2020.
The Apple Affordable Housing Fund will support a mix of income levels, from individuals and households with the lowest income levels to the “missing middle class”.
For more information on the project and to submit proposals, visit https://housingtrustsv.org/applefundrfp/
