Apple Inc. launches a housing fund to support the construction of affordable housing in the Bay Area

Apple announced on July 17 that it is collaborating with experts in the affordable housing development field, including the San Francisco Housing Accelerator Fund, Sobrato Charitable Foundation, and Destination: Home, to launch a new Bay Area Housing Innovation Fund. This fund will provide targeted discounted loans to promote the development of affordable housing, as part of Apple's $2.5 billion commitment aimed at addressing housing affordability issues in various California communities. The initial investment for the Bay Area Housing Innovation Fund is $50 million, which will support four projects in the San Francisco Bay Area, building over 400 housing units in the next two years