ADVERTISEMENT
  • News
  • Technology
  • Culture
  • Entertainment
  • Sport
  • Travel
  • Music
  • More
    • Politics
    • Lifestyle
    • TV
    • Games
Wednesday, September 27, 2023
  • Login
No Result
View All Result
NEWSLETTER
FINCHANNEL
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
No Result
View All Result
FINCHANNEL
No Result
View All Result
Home Business Finance

Apple Deploys $1 Billion in Affordable Housing Support Across California

The FINANCIAL by The FINANCIAL
July 16, 2021
in Finance
Reading Time: 6 mins read
A A
0
Apple & Deloitte Team Up to Accelerate Business Transformation on iPhone & iPad
Share on FacebookShare on Twitter

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

ADVERTISEMENT

In addition, Apple is providing capital to facilitate the construction of thousands of new affordable units and supporting at-risk communities. This major milestone in the company’s $2.5 billion commitment to combat the housing crisis in the state demonstrates the importance of innovative housing solutions.

“California’s communities have shown their resilience in the face of immense challenges this past year. As we look to a brighter future ahead, Apple is committed to continuing our work with partners across the state to support these communities and help combat the housing crisis in meaningful ways,” said Kristina Raspe, Apple’s vice president for Global Real Estate and Facilities. “As we expand our efforts and move forward with our comprehensive plan to address housing in the state, we’re proud our work has made a tangible impact on the lives of so many Californians.”

RelatedPosts

S&P 1500 Pension Funded Status Increased by 1 Percent in May

Humana shares on the up as earnings show Medicare growth

If a blockchain became more critical to the financial system, how should it be governed?

EBRD and FAO mark 25 years of cooperation with US$ 5.5 million initiative

Apple’s affordable housing commitments are designed to address housing scarcity and affordability across several distinct approaches, targeting various populations and filling existing gaps in the space. In partnership with Destination: Home, the California Housing Finance Agency (CalHFA), and Housing Trust Silicon Valley, the $1 billion in funding has helped support new housing development and construction, assisted first-time buyers purchase homes, and expanded programs to reduce homelessness, Apple notes.

Two workers on a construction site using iPad
Apple is providing capital to facilitate the construction of thousands of new affordable units, including developments for veterans and other high-risk communities.

After announcing its commitment in November 2019, Apple quickly started working with partners to allocate and disburse funds across the state — deploying more than $500 million by the end of 2020 in an effort to combat the heightened housing challenges posed by the COVID-19 pandemic. To date, Apple has supported affordable housing efforts across 25 California counties, from Alameda and Amador to Ventura and Yolo. The funds have assisted thousands of first-time homebuyers, supported the development of thousands of new affordable units, and helped keep thousands of Bay Area families housed during the pandemic — including Alma Rodriguez’s family.

Alma Rodriguez lives in San Jose with her three sons. When Rodriguez lost her job due to the pandemic, she was faced with what seemed like an impossible task: continue caring for her sons as they learned from home and paying her rent to keep the family housed. With support from Destination: Home’s Homelessness Prevention System, a program Apple helps fund, Rodriguez was able to pay her rent and had a little extra to take care of other essentials, including keeping the internet connected for her children’s remote learning, according to Apple.

Alma Rodriguez standing in front of a park.
Alma Rodriguez is among more than 15,000 families who received critical financial and rental assistance through Destination: Home’s Homelessness Prevention System, which Apple supports.

“I found out about Destination: Home from the community garden and kitchen where I volunteer,” said Rodriguez. “Once the pandemic hit, it was very hard to provide for my family, and every dollar meant a lot to me. When I found out about receiving the support I couldn’t believe it — without that help we would have lost our internet and so much more. I have always given back to my community, and this time my community gave back to me. I am so grateful that someone is fighting for us, especially in these times.”

With Apple’s support, the Homelessness Prevention System has provided financial and rental assistance to more than 15,000 families, like the Rodriguez family, since the beginning of the pandemic. Working alongside Destination: Home, Apple has also helped fund the construction of over 1,100 new units of deeply affordable and supportive housing for the community’s most vulnerable populations across Silicon Valley

Alma Rodriguez and her three sons playing in the playground.
With funding from Destination: Home, Alma Rodriguez was able to keep her family housed and pay for necessities like internet for her sons’ remote schooling.

In conjunction with CalHFA, Apple has provided mortgage and down payment assistance to thousands of low- and moderate-income first-time homebuyers. Close to two-thirds of borrowers identify as Hispanic, Black, Asian, Pacific Islander, or American Indian. The program has also provided additional benefits for teachers, veterans, and firefighters — which comprise nearly 10 percent of borrowers.
Taylor Mestres and her wife, Keteria Lara, are both the first in their families to own their own home.

Mestres, a sixth-grade teacher in the Manteca Unified School District, said she and Lara, a mental health professional, “wanted to break that generational system of constantly renting, and to have something with our name on it that was ours.” Given housing prices, they knew “it would only be possible if we could find a down payment assistance program.” After learning CalHFA had a program, supported by Apple, targeted towards teachers, they immediately began the paperwork.

Taylor Mestres and Keteria Lara dining in their new home.
After moving into her house last December, Taylor Mestres now says she wants to help her family and friends access the same Apple-supported CalHFA program to buy their own homes.

Mestres and Lara moved into their home in December, just in time to celebrate the holidays. While the homebuying process can be complicated, Mestres said, “the program is so rewarding and makes it so easy.” She hopes she can use her familiarity with the process to “advocate for it and open it to other people who may need it,” maybe even helping others in her family buy their own homes.

Apple has also partnered with CalHFA to launch an affordable housing investment program, the first of its kind in California, which has increased the availability of funding to develop and build very low- to moderate-income housing at a lower cost. This innovative funding mechanism means the state now has access to financial resources that otherwise wouldn’t exist. Launched in July 2020, the program has become a critical tool to produce additional affordable housing units in the state.

Rendering of Satellite Affordable Housing Associates’ Veterans Square in Pittsburg, California.
Satellite Affordable Housing Associates’ Veterans Square development in Pittsburg, California, which is currently under construction, is one of 10 projects across the Bay Area that Apple and Housing Trust Silicon Valley have committed to fund.

Construction is underway for several new affordable housing developments in the South Bay and East Bay regions of Northern California, funded through a public-private partnership between Apple and Housing Trust Silicon Valley. To date, the partnership has committed funding to 10 projects, spanning the entire greater Bay Area. These projects are expected to create more than 800 new units of affordable housing, many of them reserved for vulnerable communities — including homeless senior citizens, veterans, and people with developmental disabilities.

In November 2019, Apple committed $2.5 billion to combat the housing crisis in California across a series of initiatives over several years, including:

A first-of-its-kind $1 billion affordable housing investment fund with the state of California.
A $1 billion first-time homebuyer mortgage assistance fund, with increased funding opportunities for essential services personnel, school employees, and veterans.
$300 million in Apple-owned land made available for affordable housing.
A $150 million Bay Area housing fund, in public-private partnership with Housing Trust Silicon Valley.
$50 million to support Destination: Home’s efforts to address homelessness in Silicon Valley.

Tags: applecaliforniahousing support
ADVERTISEMENT
The FINANCIAL

The FINANCIAL

Since 2005

Related Posts

60% of banks plan to invest in new technologies as market challenges persist
Finance

S&P 1500 Pension Funded Status Increased by 1 Percent in May

by The FINANCIAL
June 11, 2023
0

The estimated aggregate funding level of pension plans sponsored by S&P 1500 companies increased by 1 percent in May 2023...

Read more
Humana shares on the up as earnings show Medicare growth

Humana shares on the up as earnings show Medicare growth

May 8, 2023
Blockchain technologies have potential to add $1.76 trn to global GDP by 2030

If a blockchain became more critical to the financial system, how should it be governed?

December 21, 2022
Serbia steps up partnership with FAO and EBRD for stronger agriculture

EBRD and FAO mark 25 years of cooperation with US$ 5.5 million initiative

December 20, 2022
Next Post
FedEx and Nuro Team Up to Advance Last-Mile Logistics with Autonomous Vehicles

FedEx and Nuro Team Up to Advance Last-Mile Logistics with Autonomous Vehicles

World Bank Helps Bangladesh Address Urgent Health Needs of Rohingya

World Bank Financing for COVID-19 Vaccine Rollout Exceeds $4 Billion for 50 Countries

Calling all couch potatoes: This finger wrap can let you power electronics while you sleep

Calling all couch potatoes: This finger wrap can let you power electronics while you sleep

Please login to join discussion
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
Alejandro Betancourt López

Alejandro Betancourt López Credits Social Media With the Success of Hawkers

November 1, 2022
Find Social Security Number by Name Free

Find Social Security Number by Name Free

November 23, 2022
How to Check KRA Pin Using ID Number

How to Check KRA Pin Using ID Number

June 25, 2018
Employee Well-being as one of the main directions of corporate sustainability in the “Smart Capital Group” company

Employee Well-being as one of the main directions of corporate sustainability in the “Smart Capital Group” company

August 14, 2023
7 Vital Skills For A Successful Career In Finance

Survey of 249 Senior Enterprise Risk Executives Reveals Top 5 Emerging Risks in the Second Quarter of 2023

August 20, 2023
New awareness rising initiative for Rugby school brothers – Sustainability Matters!

New awareness rising initiative for Rugby school brothers – Sustainability Matters!

September 27, 2023
Life Insurance vs. Long-Term Care Insurance?

Motivational Quotes to Boost Insurance Sales

September 26, 2023
West Nile virus reported in humans and horses from four counties in Washington state

West Nile virus reported in humans and horses from four counties in Washington state

September 26, 2023
Protected: 5 Strategies to Secure Funding for Your FinTech Startup

Protected: 5 Strategies to Secure Funding for Your FinTech Startup

September 26, 2023

Council fails to respond to restaurant nuisance complaints

September 22, 2023

Popular Last 24h

  • How to Check KRA Pin Using ID Number

    How to Check KRA Pin Using ID Number

    0 shares
    Share 0 Tweet 0
  • Motivational Quotes to Boost Insurance Sales

    0 shares
    Share 0 Tweet 0
  • West Nile virus reported in humans and horses from four counties in Washington state

    0 shares
    Share 0 Tweet 0
  • New awareness rising initiative for Rugby school brothers – Sustainability Matters!

    0 shares
    Share 0 Tweet 0
  • Find Social Security Number by Name Free

    1 shares
    Share 0 Tweet 0
  • 6 Costly Yet Avoidable Digital Marketing Mistakes

    0 shares
    Share 0 Tweet 0
  • Credit quality concerns lead to higher provisions at US banks

    0 shares
    Share 0 Tweet 0

LATEST POSTS

New awareness rising initiative for Rugby school brothers – Sustainability Matters!

New awareness rising initiative for Rugby school brothers – Sustainability Matters!

September 27, 2023
Life Insurance vs. Long-Term Care Insurance?

Motivational Quotes to Boost Insurance Sales

September 26, 2023
West Nile virus reported in humans and horses from four counties in Washington state

West Nile virus reported in humans and horses from four counties in Washington state

September 26, 2023
Protected: 5 Strategies to Secure Funding for Your FinTech Startup

Protected: 5 Strategies to Secure Funding for Your FinTech Startup

September 26, 2023

Council fails to respond to restaurant nuisance complaints

September 22, 2023
COVID-19 was third leading cause of death in the United States in both 2020 and 2021

Clinical trial to test immune modulation strategy for hospitalized covid-19 patients begins

September 22, 2023

Goldman to Pay SEC $6 Million in Penalties for Providing Deficient Blue Sheet Data

September 22, 2023
Two Men Plead Guilty to $67M Medicare Fraud Scheme

Researchers develop new method to identify potential stroke therapies

September 22, 2023
65% say they always or often feel exhausted when thinking about politics

65% say they always or often feel exhausted when thinking about politics

September 22, 2023
Mobile Banking and Beyond: The Ascendance of Mobile-First Fintech Software Solutions

Mobile Banking and Beyond: The Ascendance of Mobile-First Fintech Software Solutions

September 22, 2023

LATEST INTERVIEWS

Lighting the path for sustainability in Georgia

Lighting the path for sustainability in Georgia

by The FINANCIAL
August 14, 2023
0

Toyota Plays a Crucial Role in Contributing to Georgia’s Zero Emissions Challenge

Toyota Plays a Crucial Role in Contributing to Georgia’s Zero Emissions Challenge

by The FINANCIAL
July 12, 2023
0

The Biltmore Tbilisi Hotel in Georgia’s key CSR projects aimed at creating a beneficial influence on the local community

The Biltmore Tbilisi Hotel in Georgia’s key CSR projects aimed at creating a beneficial influence on the local community

by The FINANCIAL
July 12, 2023
0

“EU membership might attract European banks and other financial institutions to enter Georgia”

“EU membership might attract European banks and other financial institutions to enter Georgia”

by The FINANCIAL
May 15, 2023
0

Main risks facing banks in 2023

Main risks facing banks in 2023

by The FINANCIAL
May 15, 2023
0

‘Russia cannot be treated as a reasonable and reliable trade partner

‘Russia cannot be treated as a reasonable and reliable trade partner

by The FINANCIAL
February 13, 2023
0

We should increase our joint efforts to assist the growing tech sector here in Georgia

We should increase our joint efforts to assist the growing tech sector here in Georgia

by The FINANCIAL
February 13, 2023
0

‘Georgia has much to offer to UK investors

‘Georgia has much to offer to UK investors

by The FINANCIAL
February 13, 2023
0

Newsletter

ADVERTISEMENT

GET IN TOUCH

E-mail your company news at:

news (at) financial.ge Letters to the Editor: editor (at) finchannel.com

Local Marketing contact:

(+99532) 2252 275 | 76 EXT: 1 (+995 558) 03 03 03 (mobile) marketing (at) finchannel.com

Requests from abroad:

(+99532) 2252 275 | 76 EXT: 7 (+995599) 96 52 52 Email: zviadi (@) finchannel.com Contact video editor: E-mail: video (at) financial.ge

Postal address: 17 Mtskheta str. Tbilisi, Georgia 0179 The FINANCIAL

RESOURCE

  • Work at the FINANCIAL
  • ePaper
  • Advertise in The FINANCIAL
  • Access ePaper
  • Guest posts
  • Contributed articles
  • AmericanStockNews
  • Coupon Codes
  • GLOSSY MAG
American Culture Center
ACC Partner

GUIDEBOOK

  • Meet our team
  • Invest in Georgia
  • Become contributor
  • Archive

FOLLOW US

  • Facebook
  • Twitter
  • Google+
  • Youtube
No Result
View All Result
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.