Google ends deal to build 15,000 Bay Area homes due to “market conditions”
https://arstechnica.com/tech-policy/2023/11/google-cost-cutting-ends-deal-to-build-thousands-of-affordable-housing-units/
Google has ended an agreement with a developer to build 15,000 homes in the San Francisco Bay Area, including affordable housing, as it continues a string of cost-cutting moves to reduce real estate costs. Google said it is "looking at a variety of options" to provide housing despite ending the development deal but didn't offer specific details on its plans.
Google partnered with the Australian company Lendlease in 2019 on a $15 billion plan for "residential, retail, hospitality, and community development space," with an expected completion date of 2038. Lendlease was to be the developer, builder, and owner of the residential, retail, hospitality, and community components, while Google also planned a related office expansion. Including office space, the developments could have covered 15 million square feet.