Wednesday , June 16 2021

Microsoft will build houses – Ministry of Finance

The digital giant Microsoft will earn half a billion dollars to make a city with affordable housing in Seattle, then it's headquartered in the United States. This writes

Now to buy a house in Seattle is not that simple: in a city, almost no realization is cheaper than $ 500 thousand, and the secondary market is not present with current offers.

In the past, the problem of living in Seattle would be decided by setting a tax of $ 275, which would pay the companies for each of their employees. Amazon did not make that happen, and now Microsoft is trying to solve the problem itself.

The company has $ 135 billion in reserves, and investment in housing construction, which the company wants to make, is now among the largest.

$ 500 million is being transferred to a fund divided into several divisions: $ 225 million is being provided to developers on a line below the market, and $ 250 million is being offered to brands to support the building of affordable housing.

Business interests will come to the same level. Another $ 25 million is received by the poor and homeless (now the city earns $ 90 million in annual). In total, there are at least 12,000 house people in Seattle every day.

The company is already planning to make more billions of dollars to expand its campus in Redmond, where it started the history of a company.

Source link