Google's Search to Expand Involves Real Estate

Google has invested $6 million in an affordable housing project in Mountain View, California.
1:40 | 09/05/13

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:



Skip to this video now

Now Playing:


Related Extras
Related Videos
Video Transcript
Transcript for Google's Search to Expand Involves Real Estate
On the outside the Franklin street family apartments have a Mediterranean Villa lost to the kind of upscale complex we expect to be high ground after all this is Silicon Valley and some of the new apartments and -- going for 5500 dollars a month for. A two bedroom apartment however these were designed to meet the growing need for affordable housing for people making on average about 44000. Dollars a year that's half the median income in Santa Clara County. The 23 million dollar project attracted Mountain View based Google as an investor which bought just over six million dollars in bonds. We will even be enough for -- housing -- -- everyone having an affordable home. And we think this is a responsible way both structural holders and the community to -- but I'm kind of where money -- -- office. There's an incentive for -- all our federal tax credit designed to attract capital for affordable housing projects they will realize in tax credits about the same amount that they -- -- say for example on this is not what they did that exceeded the ten million dollars in -- -- -- -- Ten million dollars in tax credits over a ten year period a one bedroom unit rents for 937. Dollars a two bedroom for -- 1122. And a three bedroom for 1291. -- Kroger and her husband are both disabled living here makes a difference. My kids are worried about us that's like their biggest. Thing -- making sure that we're not a burden to our kids before they even get started. It also puts Christina Zimmerman a mother of three on a stronger financial footing and I'm able to actually start saving now I do have a little -- -- maintaining such as it could -- know my car's sound. It's definitely helps in so many more ways than what I can expect. In Mountain View David -- ABC 7 NEWS.

This transcript has been automatically generated and may not be 100% accurate.

{"id":20166174,"title":"Google's Search to Expand Involves Real Estate","duration":"1:40","description":"Google has invested $6 million in an affordable housing project in Mountain View, California.","url":"/Business/video/googles-search-expands-involves-real-estate-20166174","section":"Business","mediaType":"default"}