$500 million affordable housing fund launches in the Bay Area

Housing affordability has become a tremendous concern for many Americans navigating expensive West Coast housing markets, but a new partnership could provide Californians with significant relief.

Various housing advocates, tech and business leaders recently announced the launch of a regional public-private housing partnership that could potentially become the Bay Area’s largest investment toward affordable housing.

The partnership intends to provide $500 million in order to solve interconnected challenges of housing, transportation and economic opportunity in the Bay Area.

“The scope of the housing crisis requires bold action. And it also requires that all sectors come to the table to drive new solutions—the government, the private sector, philanthropies, advocates and faith leaders,” California Governor Gavin Newsom said. “This multi-sector public-private approach reflects just that—and will help move our state forward on one of the biggest issues we face.”