Apple Deploys More Than $1B for Affordable Housing Since COVID Onset

Apple is accelerating its support for affordable housing initiatives and in the past 18 months has deployed more than $1 billion for projects across California. This financial commitment has already helped thousands of people in the state become homeowners for the first time.

In addition, Apple is providing capital to facilitate the construction of thousands of new affordable units. This major milestone in the company’s $2.5 billion commitment will combat the housing crisis in the state.

“California’s communities have shown their resilience in the face of immense challenges this past year,” said Kristina Raspe, Apple’s vice president for global real estate and facilities. “We’re proud our work has made a tangible impact on the lives of so many Californians as we expand our efforts and move forward with our comprehensive plan to address housing in the state.”

In partnership with Destination: Home, the California Housing Finance Agency and Housing Trust Silicon Valley, the $1 billion has helped support new housing development and construction, assisted first-time buyers purchase homes, and expanded programs to reduce homelessness.

After announcing its commitment in November 2019, Apple started working with partners to allocate and disburse funds and deployed more than $500 million by the end of 2020. To date, Apple has supported affordable housing efforts across 25 California counties from Alameda and Amador to Ventura and Yolo.