Airbnb commits US$250 million to unlock stalled US housing projects
UNITED STATES: Airbnb has launched a “Housing Accelerator” combining US$250 million in below-market, last-dollar financing for stalled rental projects with policy advocacy, a global housing-policy data index and a US$5 million innovation prize focused on construction and development technology. The company expects the initiative to unlock more than US$5 billion in housing investment over the next decade, starting with a US$6.4 million commitment supporting 201 affordable housing units in Austin’s St. John redevelopment. The program targets three key development challenges- financing gaps, local regulatory barriers and construction productivity potentially shaping the feasibility, location and delivery of future housing projects.
Source: Times of India
