Facebook has plans to commit $1 billion to help address the affordable housing crisis in California, and in other communities that have similar challenges.
The investment will go toward creating up to 20,000 new housing units to help essential workers such as teachers, nurses and first responders to live closer to the communities that rely on them.
And as part of its commitment, Facebook partnered with California Governor Gavin Newsom and the State of California to help accelerate progress on this issue.
“Access to more affordable housing for all families is key to addressing economic inequality and restoring social mobility in California and beyond,” said Governor Newsom. “State government cannot solve housing affordability alone; we need others to join Facebook in stepping up — progress requires partnership with the private sector and philanthropy to change the status quo and address the cost crisis our state is facing. Public-private partnerships arou