Google is pouring $1 billion into easing the
high-priced housing headaches that it and
its Silicon Valley peers helped give the San
Francisco Bay Area.
The pledge announced by Google CEO Sundar
Pichai consists of a $250 million investment fund
and $750 million of company-owned land. It will
be used to build at least 15,000 homes that will
include low- and mid-income housing.
Google’s commitment eclipsed a recent $500
million pledge made by Microsoft to combat
housing shortages in the Seattle area and a $500
million housing fund created by a consortium
including Facebook.