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Apple Surpasses Silicon Valley Peers in Housing Pledge Delivery; Google and Meta Lag

Protracted zoning processes have slowed multi-billion-dollar housing programs launched by tech giants in 2019.

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Overview

  • Apple has invested over $1.6 billion of its $2.5 billion pledge to fund or preserve more than 10,000 affordable units, offer down-payment assistance and support at-risk residents.
  • Meta Platforms has deployed roughly $200 million of its $1 billion commitment, mainly through loans for extremely low-income renters and a $250 million state partnership that has yet to show progress.
  • Google’s $1 billion pledge includes land earmarks for about 15,000 homes and approvals for 12,900 units, but construction has not begun and the company is considering selling a Mountain View site.
  • Outside Silicon Valley, Amazon has fully delivered on its $2.2 billion assistance pledge and added a $1.4 billion commitment, and Microsoft has allocated its entire $750 million Seattle‐area fund.
  • Apple’s offer of $300 million in San Jose land remains unupdated, underscoring uneven disclosures and varied timelines across the companies’ housing initiatives.