AUSTIN — Two Austin developers are pledging $1 million to help tackle the city's homeless issue.
The CEOs of the Cielo Property Group are planning to give the funds from future profits. They are currently interviewing nonprofit groups.
"It doesn't make any sense that the private sector can put a rocket into space but in the same breathe we have people living in such substandard conditions in this country," said Bobby Dillard, co-CEO of the Cielo Property Group.
He also said, "Our hope is if other folks can see when we make that pledge and step forward, see that it is impactful, that others will follow along."
A concept his founding partner of the company, Rob Gandy, agrees with.
"Our goal is to bring the best minds together in the same room and try to be part of the solution ... what we do is bring the best industries together to be able to create a building like this right so if we can do the same thing to tackle the homeless issue, that's our goal," said Gandy.
Cielo is in the process of building a new development called 3rd and Shoal, which several companies, like Bank of America and Facebook, will call home.
Facebook is the anchor tenant of the 29-story building, taking up 10 of those floors. Facebook plans to open their facility at 3rd and Shoal in early 2019.