Airbnb to invest in affordable housing in California

Airbnb has launched a new community-impact-investing program that will invest $25 million in projects that support affordable homeownership, small businesses, and the construction and preservation of affordable rental housing in the San Francisco Bay Area and Los Angeles County. If successful, the pilot program will expand and direct more of Airbnb’s resources to projects that support families and communities throughout California and across the country.

Brian Chesky, Airbnb co-founder, CEO, and head of community, said, “I want Airbnb to be a 21st century company that serves all our stakeholders, including the communities our hosts and guests call home. Inspired by California Governor Gavin Christopher Newsom’s leadership, we took a look at how we could potentially deploy our resources to support the development of more affordable housing. This is just a modest first step, but we are excited to launch this pilot program, learn more, and build on this work in the years a