June 18, 2019 / 4:55 PM / 3 months ago

Google announces $1 billion additional investment in housing across Bay Area

FILE PHOTO: The Google logo is pictured at the entrance to the Google offices in London, Britain January 18, 2019. REUTERS/Hannah McKay/File Photo

(Reuters) - Alphabet Inc’s Google on Tuesday announced an additional $1 billion investment in housing across the San Francisco Bay Area.

Google said over the next 10 years, it would repurpose at least $750 million of its land, most of which is currently zoned for office or commercial space, as residential housing.

“This will enable us to support the development of at least 15,000 new homes at all income levels in the Bay Area, including housing options for middle and low-income families,” Google said in a blog post.

Reporting by Arjun Panchadar in Bengaluru; Editing by James Emmanuel

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