The Kelsey in San Francisco is one of the developments Apple is funding. (Source: Apple)
As part of its continuing support of affordable housing, Apple says that it has now deployed nearly $1.5 billion to help 40,000 Californians find a home.
Apple has been supporting affordable housing in its home state since 2019, and right from the launch of the project has committed to investing $2.5 billion. Following 2020's $400 million, and how in 2021 the total spent rose to over $1 billion, Apple has today announced how it has continued to support still more people and organizations.
"We are proud to be working side by side with organizations across the state to help ensure communities and families here can thrive," Kristina Raspe, Apple's vice president for Global Real Estate and Facilities, said in a statement. "Our partnerships have helped many across the community move into new homes, and are helping keep many more families in housing."
Apple has previously also helped launch the California Housing Finance Agency (CalHFA) Bond Recycling Program. This financing program also helps affordable housing tenants, and Apple says it means CalHFA has been able to access hundreds of millions of dollars above and beyond Apple's direct investment.
So far Apple says that over 40,000 Californians have received housing support through the various projects it backs. It is also behind creating new homes in 22 developments for close to 20,000 individuals, and another 24,000 have been saved from losing their housing.
One of the people benefiting from the new housing developments is Linda Smith who, with her husband, saw their home of 28 years foreclosed on them. Now the couple live in Apple's Cedar Grove Apartments in Santa Rosa, California.
"I'm really happy — I feel blessed that we got into this new apartment," says Smith, aged 75. "The people at Cedar Grove have just been so beautiful to work with."
"They kept us posted so we could get in quickly," she continued. "We ended up being one of the first people to move in once it was built."
"I've gotten involved here — I started the community garden with my granddaughter, who I babysit," she says. "When we're out there working on it, all the kids gather around and get excited."
"I hurt my leg a few weeks ago and couldn't get out to water it, and my neighbors noticed and have been watering it for me," continues Smith. "I didn't have to ask; they just started helping."
Apple has also continued its now years-long collaboration with Destination: Home, which has now created homes in the Bay Area.
"We know that if people don't stay housed, everything worsens, right?" said Destination: Home initiatives officer Ingrid Granados. "Their outcomes, the cost on society, the kids' educational impact — all of it."
"The federal money our organization received had to go to help people pay rent, but we knew that was only one part of the equation," she continued. "Apple really allowed us to have flexible funding for not only rental assistance, but other necessities to help families meet their individual needs."
