Google Invests

, has a tech-savvy benefactor.5 million in equity from Google. The tech giant also provided a grant to provide computers and free Internet access to residents.

Written by Jessica Fiur

09 / 12 / 13

2 min read

Franklin Street Family Apartments, a new affordable community in Mountain View, Calif., has a tech-savvy benefactor. The $23.4 million multifamily community, which was developed by ROEM Corp., received $6.5 million in equity from Google. The tech giant also Downtown Family Development provided a grant to provide computers and free Internet access to residents.

“Our investment in Franklin Street Family Apartments is helping to create 51 new affordable housing units for families,” Kojo Ako-Asare, head of Google’s corporate finance team, says. “Mountain View has been a wonderful home to Google, so we couldn’t be more thrilled to help others make this community their home as well.”

Franklin Street Family Apartments includes one-, two- and three-bedroom floor plans. There are 92 parking spaces available for residents, but the community is also located in close proximity to public transportation, making the apartments eco-conscious. Other green elements include photovoltaic panes, water and energy-efficient appliances and transit passes for residents.

“Google remains committed to supporting affordable housing options in areas that allow for use of alternative transportation,” Ako-Asare says.

Though the community just recently celebrated its grand opening, Franklin Street Family Apartments is already 100 percent occupied.

Jessica Fiur is News Editor at Multi-Housing News. Find more of her insights on multifamily living on the “What Renters Want” blog.

AUTHOR

Jessica Fiur is the editor-in-chief at Multi-Housing News and Commercial Property Executive and writes the award-winning blog What Renters Want. Jessica has been with the company since 2011 and previously was with Weekly Reader and IQPC. Contact Jessica at [email protected], on Twitter @jfiur or on LinkedIn https://www.linkedin.com/in/jessicafiur/.

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