Google Invests $42M For Affordable Housing In Boulder

Plans to develop affordable housing in Boulder got a big boost from the tech giant Google Thursday -- their $42 million investment in state bonds will help create more than 200 affordable apartments.

The money will help redevelop three apartment complexes purchased by the city of Boulder. Other money for the project came from the city, a national affordable housing developer and a real estate investment firm.

The Daily Camera reports that work begins this month to upgrade some of the units.

Google is building itself new office space in Boulder that could accommodate some 1,500 workers. Residents have expressed concern about the impact that could have on the already expensive housing market.

The company has invested in affordable housing bonds in Denver as well, and in dozens of other cities.