Facebook has announced plans to add 2,000 units of low-income to the San Francisco Bay Area, The Real Deal reports. The Mark Zuckerberg-founded tech giant reportedly will put $150 million into the project as part of a larger $1 billion housing investment that was announced last year.
The Facebook-funded housing will be available to families making less than 30 percent of the area’s median income—which, according to the U.S. Census Bureau, was more than $112,000, in 2019. (For comparison, New York City’s area median income last year was $64,000.) Facebook has committed one-third of its funding to Santa Clara County, which has a slightly lower area median income.
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