Advocacy and More: Philanthropy’s Role in Two Big New Initiatives to Tackle the Housing Crisis

Housing affordability may be the toughest challenge now facing major metro areas in the U.S., especially in affluent coastal areas. Last month, California’s new governor, Gavin Newsom, made this issue a top priority, committing significant new resources to housing in his proposed state budget. Other public leaders have been stepping up, too, including New York Mayor Bill de Blasio.

Pressure is also growing on both business and philanthropy to do more to ensure housing affordability. And in recent weeks, we’ve seen dramatic movement along these lines. One such effort is focused on ground zero of the housing crisis: the Bay Area. With the Chan-Zuckerberg Initiative in the lead, the Partnership for the Bay’s Future wants to pull in $540 million from a range of regional players and has already secured an initial $280 million. Meanwhile, Microsoft is upping the corporate ante in Seattle and its environs with $500 million to confront the Puget Sound region’s housing shortage.