Microsoft commits $500M for affordable housing in greater Seattle

To offset the tech sector’s effects on home prices in the area, the company is pledging grants and low-cost loans to develop reasonably priced dwellings—and address homelessness.

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Microsoft wants to be a better neighbor, and it’s putting its money where its mouth is.

Big tech companies in West Coast cities have been like McMansions on modest suburban streets. As new workers and big salaries have flooded housing markets, many longtime locals have blamed the tech behemoths for “ruining” their city instead of celebrating the job creation.

Microsoft hopes to push back by devoting a half-billion dollars to develop affordable housing.

Microsoft is committing $500 million to kick-start new solutions to advance the construction of new affordable housing. While this is an important step, it’s just the beginning. We all need to work together to solve this crisis. #affordablehousing

— Brad Smith (@BradSmi) January 17, 2019

It shared its intentions in a blog post:

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