LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Google's $1 bn initiative to counter the Silicon Valley housing issue

Over the course of next 10 years, Google is planning to re-purpose at least $750 million of Google’s land

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Google's $1 bn initiative to counter the Silicon Valley housing issue
Google will provide with $50 million with of grants through their Google.org Photo: Reuters
Written By: ZeeBiz WebTeam
Updated: Wed, Jun 19, 2019
07:13 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Google fires 150 game developers hired for Stadia: Report Google fires 150 game developers hired for Stadia: Report
This country passes law to make Google, Facebook pay for news  This country passes law to make Google, Facebook pay for news
Now you can share apps on Android using 'Nearby Share' | Check all details here Now you can share apps on Android using 'Nearby Share' | Check all details here
Google Play Music app user? Beware, your library will be deleted on this date! Take this action now Google Play Music app user? Beware, your library will be deleted on this date! Take this action now
Google Chrome 88 update fixes key zero-day bug Google Chrome 88 update fixes key zero-day bug

Alphabet Inc's search engine arm Google recently announced that it is investing an additional $1 billion in housing all across the San Francisco Bay Area. The area has been plagued by a housing crisis. Google wrote in its blog that over the course of next 10 years, they are planning to re-purpose at least $750 million of Google’s land, most of which is currently zoned for office or commercial space, as residential housing.

They further add that they will support the development of at least 15,000 new homes at all income levels in the Bay Area, including housing options for middle and low-income families. Google  hopes that the investment will be able to address the shortage of affordable housing options when it comes to long-time middle and low income residents.

Google also mentions in blog that it will make a $250 million investment towards developers to establish a minimum of 5,000 affordable housing units. In addition to that, Google will provide with $50 million with of grants through their Google.org to non-profit organisations that work towards the issues of homelessness and displacement. 

The San Francisco Bay Area has been hit with the issue of housing and homelessness since the technology industry gave birth to economic disparities. The technology industry is currently witnessing growth at exponential rates. However, the arena of affordable housing has not been met. In accordance to a statement by the Bay Area Council Economic Institute, around 2,00,000 people were forced out of the Bay area as far as Central Valley since they could no longer afford to live anywhere else.

The multinational technology company's objective is to make sure that everybody has an opportunity to reside in the area, whether or not they are from the tech background. Moreover, Google is focusing to join hands with business, government and community organizations so that everyone can live in the Bay area and thrive. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
GoogleReal Estate
RELATED NEWS
Google fires 150 game developers hired for Stadia: Report Google fires 150 game developers hired for Stadia: Report
This country passes law to make Google, Facebook pay for news  This country passes law to make Google, Facebook pay for news
Now you can share apps on Android using 'Nearby Share' | Check all details here Now you can share apps on Android using 'Nearby Share' | Check all details here
Google Play Music app user? Beware, your library will be deleted on this date! Take this action now Google Play Music app user? Beware, your library will be deleted on this date! Take this action now
Google Chrome 88 update fixes key zero-day bug Google Chrome 88 update fixes key zero-day bug

LATEST NEWS

Maharashtra budget: Tax increased on liquor

Mid-Cap Picks with Anil Singhvi: Jay Thakkar recommends IOL Chemicals, IRB Infra and Heidelberg Cement for good returns

In chat with Anil Singhvi, analyst Vikas Sethi picks Nalco, L and T Finance as top buys for big gains

Announced LIVE: JEE Main Result DECLARED - Here is how to check

Indian Army Recruitment 2021: Pay up to Rs 1,77,500 after training! Check vacancy details, last date to apply, age limit, and other details here

Special Pick With Anil Singhvi: Here are top stocks to buy on International Women’s Day

Gold price today recovers from nine-month low on U.S. stimulus cheer

BJP Bengal candidate list 2021: Full details of vidhan sabha constituency wise names, numbers

IRCTC, Ashok Leyland share price: Technical Analysis explained by Bonanza Portfolio

On Women's Day, don't fall for this WhatsApp scam | Check NOW

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved