Facebook Announces Help on Low Income Housing Effort

Facebook has a new partner in its push to create affordable housing. The social media giant on Tuesday announced that a nonprofit called the Local Initiatives Support Corporation will work to turn the company’s initial $18.5 million investment into as much as $75 million. Facebook is working to build new low-income housing and take on some legal costs in eviction cases. At the same time, Facebook’s own recent success has indirectly led to even tighter housing demand and traffic on the Peninsula.