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Apple’s $2.5 billion investment in affordable housing has landed, building new neighborhoods

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Veterans Plaza Building Coordinator Ferdinand (left) and resident JC (right)

“We are very proud to see that families and neighbors, thanks to our partnership with affordable housing organizations across California, have We’ve moved into our new home. Apple is committed to finding real solutions that help our communities thrive, and these new projects represent tangible progress in delivering on that promise for so many of our fellow Californians.”

Apple’s partnership with the California Housing Finance Authority (CalHFA) enables the company to provide mortgages and down payments to thousands of low- or moderate-income first-time homebuyers.

The fund launched an affordable housing investment program that has so far supported nearly 2,000 new housing units across California. These include 315 in Los Angeles, nearly 340 in Berkeley, and more than 230 homes in Cedar Village in Chico.

Apple specifically cited the newly opened Veterans Square residential area in Pittsburgh, California, where it claims “a new community is blooming.”

Opening in March 2022, Veterans Plaza is a 30-unit building built for both veterans and individuals identified by housing organizations as most in need of housing. “For the vast majority[新房主]It’s a world away from the street they’ve recently called home,” Apple said.

“I don’t know if I’m going to be selected, so I’m praying for that,” JC, an 85-year-old veteran, told Apple. “I love my apartment. They even kindly put me on the ground floor because it’s easier to use my walker. It means a lot to me.”

Veterans Plaza is the result of a partnership between Apple and Silicon Valley Housing Trust, a community development financial institution. Marcus Ferdinand, 39, who works for both organizations, is the building’s services coordinator — and an adviser to residents.

“I remember growing up in a neighborhood with a lot of problems,” Ferdinand told Apple. “I just never thought that’s how people’s lives should be.”

“I feel like everyone has the potential to live the life they love – and for some of us, it’s just harder to get there, so if I can help others get there, it’s all worth it .”

Apple, along with partners, has provided financial and rental assistance to more than 20,000 families during the coronavirus pandemic. The partnership also helped Destination: Home. They provide nearly 1,700 homes for extremely low-income families in the Bay Area.

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