The Boston Globe broke the news that Google dropped $28 million today in order to build 240 housing units. The units are located in the Charlesview Residences in Allston, a Boston neighborhood, one of the country's largest low-income housing developments.
Google's no stranger to investing in low-income housing. The New York Times reported in January that the company had invested in the Melbourne Apartments complex in Des Moines, Iowa. One of the biggest motivations for all this real estate dough flying is to reduce the company's corporate tax liability. Companies like Apple have also pulled similar moves in the past. [CNET]