Categories: Business

Facebook has built 600 houses to overcome the housing crisis, will be made available to the poor


Facebook fund backs nearly 600 affordable homes

San Francisco. US-based technology technology company Facebook has built about 600 affordable homes near its headquarters in Menlo Park, California, about 70 percent of which are reserved for extremely low and very low-income residents. The company said that by 2022, they plan to build around 750 affordable homes.

Maneka Sethi, location strategy and director of site optimization on Facebook, said the Bay Area is Facebook's headquarters and our home and that is why we are committed to solving the housing crisis here. Facebook has set up a housing fund with $ 18.5 million, which aims to raise $ 75 million for this work.

Sethi said that we are also committed to an additional hundred million dollars for affordable homes in California for the next decade. Apple said last month that the company would spend more than $ 40,000 million this year for affordable housing projects and homeowners-in-aid programs in California in its company's $ 225 million commitment to tackle the state's housing crisis Marks a milestone.

Between April and June last year, about 30,000 people have left San Francisco and homeownership in the Bay Area is at a seven-year low.

This post was published on August 8, 2020 9:12 pm

Content Team

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