Microsoft wants to be a better neighbor, and it’s putting its money where its mouth is.
Big tech companies in West Coast cities have been like McMansions on modest suburban streets. As new workers and big salaries have flooded housing markets, many longtime locals have blamed the tech behemoths for “ruining” their city instead of celebrating the job creation.
Microsoft hopes to push back by devoting a half-billion dollars to develop affordable housing.
$25 million in philanthropic grants to address homelessness in the greater Seattle region. We are announcing today the first $10 million of these grants. This will include a $5 million philanthropic grant to the newly announced Home Base program created by the Seattle Mariners, the United Way of King County and the King County Bar Association.
The company president explained the campaign to consumers.
“The housing situation in the Puget Sound region has reached a point where it’s appropriate to use the word ‘crisis,’ ” Microsoft President Brad Smith told NPR member station, KUOW, on Thursday.
[…]Smith noted the long-term aim of the company, which is headquartered in the Seattle suburb of Redmond, is to ensure lower- and middle-income workers can continue to live close to where they work, instead of being priced out.
The plan coincides with Microsoft’s growing footprint in the Seattle area, which includes adding 8,000 jobs.
The Seattle Times reported the software company is adding about 2.5 million square feet in new construction to the Redmond campus and plans to renovate another 6.7 million square feet.
Microsoft has called on state lawmakers to play an active role in solving the problem.
Hey Brad, as a long time employee, I love it when Microsoft gets involved in our communities.
I think tech companies like ours need to reassess our tendency to clump so many employees into one city. We should collaborate remotely, let new hires work from their home state.
Well done @BradSmi . More companies should show this kind of leadership in helping to address the housing issues inadvertently caused by growth of big business. Proud to be a part of the @Microsoft team!
However, these loans could still do a lot for Seattle developers and home-buyers.
What do you think of Microsoft’s move, PR Daily readers?