Apple has teamed up with several partners to launch the Bay Area Housing Innovation Fund, an effort that will make targeted loans with favorable terms to affordable housing projects.
The fund is the latest initiative in the tech giant's campaign to support affordable housing throughout California. Apple publically committed in 2019 to invest $2.5B to support affordable housing in the Golden State.
Apple is partnering with Sobrato Philanthropies, San Jose-based Destination: Home and the San Francisco Housing Accelerator Fund on the Bay Area Housing Innovation Fund. Sobrato Philanthropies is a non-profit affiliated with developer Sobrato Organization.
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