The Chan Zuckerberg Initiative pledges $500 million to help Bay Area's housing crisis
☛ Mark Zuckerberg and his wife Priscilla Chan started their philanthropic organization 3 years ago as a way to give back. The Chan Zuckerberg initiative (CZI) just announced their latest investment of $500 million towards the housing crisis in the Bay Area. CZI has partnered with the Ford Foundation, the San Francisco Foundation and the Local Initiatives Support Corporation (LISC) for this specific initiative. The partnership has been developed over the last 2 years with the aim to identify where they will make the most impact, and what “type of housing intervention will have the greatest effect.” There is, without a doubt, a housing crisis happening in San Francisco. Teachers are being recruited, but due to the high cost of living, they are declining the opportunity. There’s already a large influx of people moving to San Francisco thanks to all the new jobs being added, but there’s not enough housing for them.
On CZI’s facebook page, here’s what they had to say:
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“Everyone has a fundamental right to a home. Together, we can protect tenant rights and expand housing in the San Francisco Bay Area. Our new partnership of community, corporate, faith, housing, and philanthropic leaders is working to increase affordable #HomesForTheBay to ensure an inclusive, livable future for the Bay.”
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For more information, visit baysfuture.org
Sources:
Facebook/ @Chanzuckerberginitiative
NBC Bay Area