Google Invests in Low-Income Housing

Google may know where you live, but if you're in the market for low-income housing, they also might hold the keys. The all-seeing search behemoth is revving up its philanthropic efforts to create an $86-million Low-Income Housing Tax Credit (LIHTC) fund. The fund will subsidize the construction and operation of 480 affordable rental units in seven communities in the West and Midwest. Many of the complexes being built will include apartments with up to four bedrooms, which have a shared laundry room and community area. The fund will be managed by U.S. Bancorp Community Development Corp., a division of U.S. Bank. Google recently invested in two other low-income housing projects for seniors in the San Francisco Bay area and Inglewood in Los Angeles County. It's only a matter of time before renters can Google their Google-owned Googleplex.