The programs aim to support veterans, the homeless or formerly homeless, and residents with developmental disabilities. In some cases, there will be additional support for teachers and firefighters. CalHFA’s assistance programs are meant to reflect the state’s diversity: Historically more than 65 percent of borrowers have identified themselves as Hispanic, Black, Asian, Pacific Islander, or American Indian.
Last year, Microsoft and Google made similar promises. Microsoft pledged $ 500 million to help Seattle’s housing crisis. Google’s plan includes reusing land worth $ 750 million for residential housing, establishing a $ 250 million fund for developers to build more than 5,000 affordable housing units, and awarding $ 50 million to nonprofit organizations focused on homelessness and displacement. Amazon recently built a homeless shelter at its Seattle headquarters, but also battled a tax that would have provided affordable housing and services for Seattle’s homeless population.
While each company is taking a different approach, its efforts recognize the housing crises in Seattle and the Bay Area. They’ve also pushed for changes in state policy, and it’s no secret that controlling house prices will ultimately support a healthier task force, which they will likely benefit from.
