Microsoft will lend US$225 million at subsidized rates for middle-income housing (households making US$62,000 to US$124,000 per year) to private or non-profit developers and governmental groups. An additional US$250 million will be put into low-income housing (US$48,150 or less for two people). The remaining US$25 million will be given as grants to local organizations working with the homeless. (New York Times, Engadget)

Talking point: Microsoft’s executives said they hope other companies will follow its lead. Its recent strong finances—Microsoft is currently valued at over US$800 billion—gave it extra resources to deploy. Other tech companies and their executives have made efforts to help with the homelessness crisis in tech heavy areas, but this pledge is the most ambitious. The company isn’t expecting to make much from the loans; all profits will be reinvested into the project. Microsoft is targeting this area because it’s near its main campus in nearby Redmond; as King County Council member Claudia Balducci said, “This is where Microsoft is going to be, and the region needs to work. I don’t think this is wholly altruism.”