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Google Searches For Investments, Finds Allston07:05

This article is more than 8 years old.
Google Developers Conference (AP)
Google Developers Conference (AP)

Google has more than $30 billion  in cash reserves. So whenever the internet search giant decides to invest millions of dollars in a new business — say, advertising, social networking, smart phones — companies already in that business get very, very nervous.

But there is one exception. And it's right here in Massachusetts. When Google decided to put millions into a patch of Allston real estate, developers welcomed the corporation with open arms.

Google is investing $28 million to help build the Charlesview residences, one of the largest low-income housing developments in the country.

Earlier today, we spoke with Greg Vasil, CEO of the Greater Boston Real Estate Board. He gave us a primer on what exactly companies like Google stand to gain from investing in affordable housing.

It comes down to three words: Big Tax Credits.


This segment aired on September 29, 2011.

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