Google Invests $41M in Colorado Affordable Housing

Tech giant Google has made a $41.7 million investment in state-issued bonds that will finance the construction of more than 200 affordable housing units being developed as part of an affordable housing program run by the city of Boulder, Colo.

According to a Daily Camera report, Google’s investment is being seen locally as a way to alleviate fears that the company’s presence in Boulder will make housing unaffordable. Google currently employs about 300 local residents and could hire up to 1,500 following the completion of a 333,000-square-foot facility in the city.

This is the second Colorado-based investment by Google in affordable housing bonds—it already invested in Denver and in more than 40 cities stretching from Pittsburgh to Honolulu.

“As a company, Google has invested in the creation or rehabilitation of thousands of affordable housing units across the country,” said Angie Welling, public policy and government affairs manager at Google. “And as a proud member of the Boulder community, we got really excited about the opportunity to partner on this project to make sure that Boulder residents have access to high quality, safe, affordable homes.”