Silicon Valley tech pours another $10 million into housing crisis.

by Joe N. Pollifrone 04/08/2019


Investment by NetApp is latest in a string of tech contributions.

The Silicon Valley tech industry is ponying up another $10 million to fix the region’s housing shortage, this time with a contribution from Sunnyvale-based NetApp.

The cloud data services company on Friday announced a $10 million investment in building and preserving low-cost housing in the Bay Area as part of the Housing Trust Silicon Valley’s TECH Fund. The move makes NetApp the latest in a string of local tech companies to address the housing crisis, as skyrocketing home and rent costs make it increasingly difficult for low- and middle-income workers to live here.

With the NetApp contribution, the TECH Fund, launched in 2017 as an affordable housing fund backed by local companies, will have raised $62 million.

Photo credit:

Bay Area News Group

About the Author

Joe N. Pollifrone

For over 34 years, Joe Pollifrone has practiced real estate full-time as a licensed Real Estate Broker in California. Joe’s vast sales experience includes duplexes, tri-plexes, four-plexes, apartment buildings, land, condominiums, townhomes, fixer-uppers, estate properties, and bank-owned properties (REOs). He also is active in selling non-owner occupied properties and is well-versed in 1031 tax-deferred exchanges, property management, tenant/landlord issues, and local laws. During Joe’s career to date, he has sold in excess of $200,000,000 of real estate, including over $32,000,000 in REOs. 

Joe brought his deep experience to Sereno Group Willow Glen as a Broker Associate in 2012. He was the Sales Manager and led a top-producing office. Joe would mentor new Sereno hires, making sure that they’re comfortable with the ethos of the office, plugged into Sereno’s network of contacts, and well-versed in the technology required of today’s real estate professionals. 

Joe prides himself on his proven ability to negotiate, extensive knowledge of contracts, and securing close of escrows in a timely manner. Both he and his clients credit his success to effective communication skills, honesty, and hard work. Joe is a native of San Jose and resides in Willow Glen with his wife of twenty-seven years, Kimi, his daughters Milan and Micaela and their two Goldendoodles, Tony-Luca and Marco.