Chan Zuckerberg-Backed Fund Targets Bay Area Housing Crisis
By-
Partnership for the Bay’s Future seeks more than $500 million
- Group advocates promoting investment, local policy changes
The philanthropy started by Facebook Inc.’s Mark Zuckerberg and his wife Priscilla Chan is backing a fresh effort to address the housing shortage in the San Francisco Bay area, where an explosion of tech wealth has deepened inequality and contributed to an affordability crisis.
The Partnership for the Bay’s Future — which the Chan Zuckerberg Initiative is starting in conjunction with the San Francisco Foundation, the Ford Foundation and other groups — will seek to preserve and create affordable housing through a new $500 million investment fund. It’s also targeting a $40 million fund aimed at government policy changes, according to a statement Thursday. Facebook and Genentech are among the companies making contributions…
Chan Zuckerberg-Backed Fund Targets Bay Area Housing Crisis
