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Apple deploys more than $1.3B in its California affordable housing fund


Three years ago, Apple announced a $2.5 billion plan to help tackle the California housing crisis. Now, the company is addressing how this partnership is helping to bring new beginnings in communities across the state.

According to a press release, Apple has now deployed more than $1.3 billion of that commitment to a diverse array of projects in conjunction with the California Housing Finance Authority (CalHFA), Destination: Home, and Housing Trust Silicon Valley.

In partnership with CalHFA, the Cupertino company has provided mortgage and down payment assistance to thousands of low- and moderate-income first-time homebuyers and launched an affordable housing investment program that has unlocked funding to support nearly 2,000 new units across the state. They include 315 units at Avenue 34 in Los Angeles, almost 340 units at Redwood Gardens in Berkeley, and more than 230 units for families in Chico’s Cedar Village, including for those impacted by the 2018 Camp Fire.

“We’re incredibly proud to see families and neighbors moving into new homes as a result of our partnership with affordable housing organizations across California,” said Kristina Raspe, Apple’s vice president for 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 toward making that promise a reality for so many of our fellow Californians.”

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In this press release, Apple highlights a housing complex in Pittsburg, California, called Veterans Square. Veterans Square is a 30-unit building for both veterans and individuals who have been identified as having the greatest need for housing. It was opened in March.

At the center of it all is Marcus Ferdinand, 39, the building’s service coordinator. According to Apple, his role is much more than that — he is a counselor and friend to the residents at the complex, making sure they are cared for and adjusting to their new surroundings. For the vast majority, it is a world away from the streets they recently called home.

“Partnerships like this one with Apple are vital. Outside of them, there isn’t much for people who don’t have a steady income or access to family resources — it’s heartbreaking. But I’m so happy to be a part of this and to help our residents start again,” said Ferdinand.

You can read more about the initiative and how this project is impacting people’s lives here.

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Naveen Kumar

Friendly communicator. Music maven. Explorer. Pop culture trailblazer. Social media practitioner.

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