Pichai notes that the company is in talks with municipalities on topics like rezoning and planning, and that construction will ideally start more or less immediately. Google plans to invest $ 1bn in the San Francisco Bay Area 's housing market over the next decade . The move is designed to tackle the growing shortage of homes in the region , which many people have blamed on the rapid growth of the tech industry . Google will build 15,000 new homes , designed for a range of income levels , by purchasing $ 750 m of commercial real estate for residential purposes . The company will also invest $ 250 m in an incentive - based program designed to encourage developers to build affordable housing .
Google plans to invest $ 1bn in the San Francisco Bay Area 's housing market over the next decade . The move is designed to tackle the growing shortage of homes in the region , which many people have blamed on the rapid growth of the tech industry . Google will build 15,000 new homes , designed for a range of income levels , by purchasing $ 750 m of commercial real estate for residential purposes . The company will also invest $ 250 m in an incentive - based program designed to encourage developers to build affordable housing .