Google invests $50m in housing trust’s TECH fund

Google has made a $50 million investment in Housing Trust Silicon Valley’s TECH Fund. Google’s investment is the largest investment in the fund to date. 

Housing Trust Silicon Valley launched the TECH (Tech + Equity + Community + Housing) Fund in March 2017 to provide affordable housing developers the flexible financing needed to compete for sites on the open market — a key barrier to building affordable housing. Google’s investment will enable Housing Trust Silicon Valley to continue helping create and preserve affordable housing units across the Bay Area. This investment follows closely on Google’s $1 billion commitment to invest in housing and the production of at least 20,000 homes in the Bay Area. It is the company’s first investment from its $250 million affordable housing fund.

The investments in TECH Fu