BOULDER, Colo. | Google has invested $41.7 million in state-issued bonds to develop affordable housing in Boulder.

The Daily Camera reports ( ) that Google and its investment fund, Red Stone Tax Exempt Funding, have invested in construction and permanent mortgage capital for more than 200 apartments in the city’s affordable housing program.

Boulder contributed $11 million toward the July purchase the Osage and Thunderbird apartments and the December 2014 acquisition of The Nest complex. National affordable housing developer The Michael’s Organization and Boulder-based Element Properties and Allison Management bought the properties for a combined $63 million.

Google is building a new campus in Boulder where it could employ as many as 1,500 people. Residents have expressed concern about the impact that could have on the already expensive housing market.

Information from: Daily Camera,