Three years after pledging to invest $1 billion toward increasing the Bay Area’s housing supply and supporting organizations that combat homelessness, Google released an update on how this commitment is unfolding.
So far, the tech behemoth has allocated $128 million of a $250 million investment fund to 18 organizations, which resulted in the development of 23 affordable housing projects across the Bay Area, according to a July 25 statement. The other chunk of the $1 billion commitment will be in the form of land -- the company is pushing forward a number of housing projects on Google-owned land worth $750 million.
“We've worked closely with elected officials and residents to propose plans where residential units, offices, retail spaces and open space will coexist on our land,” Google said in the statement.
All together, Google aims to build close to 13,000 units of housing across the south Bay Area, the majority of which are planned for Mountain View. The San Jose City Council approved Google’s Downtown West project in May 2021, which calls for 4,000 housing units. The company has also submitted plans for two mixed-use developments in Mountain View – the Middlefield Park and North Bayshore master plans– which together will generate nearly 9,000 housing units in the coming decades.
“While we’ve made progress across the Bay Area through funding and land allocation, we know that's only part of the solution,” the July 25 statement said. “Fighting the housing crisis requires innovation and collaboration across the community. So today, we’re also sharing how we’re using philanthropy to test new methods of intervention with trusted nonprofit leaders.”
The company announced that over the next three years, it will be distributing more than $10 million to Bay Area nonprofits in grants and pro bono support in the form of technical expertise provided at no cost, said Google Communications Manager Bailey Tomson.
“With this $10 million in grant funding, we’ve granted a total of $18 million of our 2019 Google.org commitment to Bay Area nonprofits providing services like food distribution, job training and case management,” the statement said. “Through these grants, these organizations will help provide services to more than 90,000 people and house 10,000 individuals over the span of four years.”