Three years ago, Apple announced a $2.5 billion plan to help deal with California’s housing crisis. The company is now looking at how this partnership is helping open new horizons in communities across the state.
According to a press release, Apple has now committed more than $1.3 billion of those commitments to various projects in conjunction with the California Housing Finance Authority (CalHFA), Destination: Home, and the Silicon Valley Housing Trust.
In partnership with CalHFA, the Cupertino-based company has provided mortgage and down payment assistance to thousands of low- and middle-income first-time homebuyers and launched an affordable housing investment program that has secured funding to support nearly 2,000 new apartments across the state. Among them are 315 apartments on Avenue 34 in Los Angeles, nearly 340 apartments in Redwood Gardens in Berkeley, and more than 230 apartments for families in Chico Cedar Village, including those affected by the 2018 camp fire.
“We’re incredibly proud to see families and neighbors moving into new homes through our partnerships with affordable housing organizations across California,” said Christina Raspe, Apple’s vice president of global real estate and facilities. “Apple is committed to finding real solutions that can help our communities thrive, and these new projects represent tangible progress towards making that promise a reality for many of our fellow citizens.”
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In this press release, Apple talks about an apartment complex in Pittsburgh, California called Veterans Square. Veterans Square is a building of 30 apartments for both veterans and those with the greatest need for housing. It was opened in March.
At the center of it all is Markus Ferdinand, 39, the building’s maintenance coordinator. According to Apple, his role is much bigger – he is an adviser and friend of the residents of the complex, making sure that they are taken care of and adapt to the new environment. For the vast majority, this is a world away from the streets they recently called home.
“Partnerships like this with Apple are vital. Outside, for people who don’t have a steady income or access to family resources, there isn’t much to do – it’s heartbreaking. But I am so happy to be a part of this and help our residents start afresh,” said Ferdinand.
You can read more about this initiative and how this project affects people’s lives here.
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