Our team serves Alameda, Contra Costa, Marin, Napa, Santa Clara, San Francisco, San Mateo and Sonoma counties in Northern California. These counties comprise our Community Reinvestment Act (CRA) assessment area. Since 2002, Silicon Valley Bank has committed over $100 million across multiple funds in CRA Qualified Investments and closed more than $650 million in loans in over 4,000 affordable housing units. In 2014 alone, SVB funded $90 million in new construction loans.
Silicon Valley Bank is committed to providing flexible financial solutions for both for-profit and not-for-profit organizations dedicated to community development. We understand your projects, and we know how to make them happen. As a consistent, dependable source of financing, we have decades of experience structuring financing to meet the complex capital and regulatory requirements for community development projects.
Silicon Valley Bank is recognized as a leading lender in the US and is honored to be participating in property renovations recognized by state and national organizations for housing, architectural and historic awards.
Kelly Cullen Community (220 Golden Gate Associates L.P.)Tenderloin Neighborhood Development Corporation's (TNDC)
Kelly Cullen Community is the reconfiguration of the Golden Gate YMCA building completed in 1909 and located in San Francisco's Tenderloin District. SVB provided a construction loan of $8,668,664 and SVB was awarded a $1,500,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of San Francisco (FHLB-SF) for the project.
Kelly Cullen Community won a number of prestigious awards:
Hunter's View Phase I
In addition, it won the Affordable Housing Magazine Reader's Choice Award for Outstanding Family Project. It was the only project out of thirty-four awarded in 2013 that was in California. SVB provided a $10,000,000 construction loan participation. In addition, the project won an SVB sponsored Affordable Housing Program (AHP) for $1,000,000 from the Federal Home Loan Bank of San Francisco (FHLB-SF).
SVB was named by Affordable Housing Finance Magazine as one of the nation's top 25 affordable housing lenders in 2013, for the fifth straight year.
"America's Best and Worst Banks" in December, 2013, Forbes.com listed SVB Financial as number 7 on the list of America's Best Banks. This is the fifth year in a row that the Bank has placed in the top 15 of the list of 100 best banks and the first time placing in the top 10.
In 2013, Silicon Valley Bank participated in the renovation of eight properties below that were opened for occupation.
Project Scope: The Arlington Hotel is the rehabilitation of the once elegant Arlington Hotel, popular in the early 1900s with prominent business men and tourists. It was one of the first fire-resistant buildings to be constructed after the great earthquake and fire in 1906. The project is owned and was developed by Mercy Housing California, Inc. located at 480 Ellis Street, San Francisco, CA.
Lending a Hand: The 173 units in the existing building of an unreinforced masonry structure built in 1907 was, floor-by-floor, modernized to house the very low income population of the Tenderloin.
Helping Finance: SVB sponsored an Affordable Housing Program (AHP) grant in the amount of $9,604,680 from the Federal Home Loan Bank of San Francisco for this project. This was in addition to providing almost $4mm construction loan.
Results: Renovations were completed in 2012 and the property was fully occupied at the beginning of 2013.
Project Scope: Bella Terra is a new construction project sponsored and developed by EAH Housing, Inc. located at 235 East Dunne Avenue, in the historic center of Morgan Hill, CA.
Lending a Hand: The 40 units were developed for very low-income seniors. The green property features solar power, a multi-purpose room, a reading lounge, a community garden and an outdoor recreation area.
Helping Finance: SVB provided a construction loan for over $7mm, with the property's Grand Opening in August, 2013.
Project Scope: Hunter's View Housing project is part of a grand plan by the City of San Francisco to revitalize the Bayview-Hunters Point neighborhood of San Francisco, under its HOPE SF Program and in partnership with the Mayor's Office of Housing and the San Francisco Housing Authority. It was the San Francisco Housing Authority selected the development team of Ridge Point Non-Profit Housing Corporation, The John Steward Company and Devine & Gong, Inc. to undertake this project.
Lending a Hand: The first phase has completed 107 rental units for multi-families earning 50% AMI (Area Median Income) for San Francisco County. A variety of community amenities are planned with the completion of the third and final phase of the project. Those amenities include child-care facilities, a teen center, a computer learning facility and a number of playgrounds. At the same new roads and communal pedestrian spaces will be constructed.
Helping Finance: SVB's involvement in the first phase was $10mm in construction financing with the purchase of private placement bonds. SVB was awarded a $1mm grant from the Affordable Housing Program (AHP) from the Federal Home Loan Bank of San Francisco. The first phase Grand Opening was in April, 2014.
Project Scope: The renovation of the Cambridge's 60 studios, originally built in 1926 a residential hotel, has been upgraded and modernized, by the Community Housing Partnership (CHP) in 2012.
Lending a Hand: Renovation of the Cambridge Apartments' 60 units, each with a full bathroom and kitchenette, also included the ground floor being reconfigured to include a new lobby, reception desk, management offices, a tenant lounge and a services suite with program room. A number of other major building systems replacements included the boiler and elevator, the adding of solar photo voltaic panels on the roof and extensive structural upgrades improving the building's seismic strength.
Helping Finance: SVB provided over $11mm construction loan to Community Housing Partnership with the project completed in the 2nd quarter of 2013.
Project Scope: New construction by the Burbank Housing Development Corporation (BHDC), developed a 66 unit multi-family apartment complex located at 1200 Petaluma Blvd North, Petaluma, CA.
Lending a Hand: The four 3-story and one 4-story podium buildings consists of 6-studios; 12-one bedroom; 21 two-bedroom and 27-three bedroom apartments. In addition there is an outdoor common area, a turf area, Tot-Lot, sport court and indoor community room.
Helping Finance: SVB provided over $15mm construction loan and over $10mm of tax credit equity investment for this project. Logan Place had it Grand Opening at the end of 2013.
Project Scope: Jointly, Chinatown Community Development Center and UrbanCore LLC developed a 100 unit senior apartments at 701 Golden Gate Avenue, San Francisco, CA. The project namesake, honors activist Mary Helen Rogers for her efforts to the Western Addition Community in San Francisco.
Lending a Hand: The project features an eight story L-shaped building with 28-studios and 72-one bedroom apartments. In addition supportive services, a community café, computer lab and resident lobby comprise the ground floor space. There is an open space at the podium level along with two-roof terraces on the sixth floor.
Helping Finance: SVB purchased over $22mm of tax-exempt construction bonds to help finance this project. Further SVB sponsored a $1mm Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of San Francisco. The facility had its Grand Opening in October 2013.
Project Scope: Valley Oaks Homes is a new construction of 43 rental units located at 19344 Sonoma Highway, Sonoma, CA. Developer, Affordable Housing Associates (AHA), planned this project to incorporate many sustainable design features with a Green Point Rating of 175. The concept for Valley Oak Homes exemplifies AHA's high quality design approach and showcases the community's commitment to environmental sustainability.
Lending a Hand: The 43-units design goal was to create a vibrant family community within an environmentally sustainable development. The project serves the low- to very low- income families of Sonoma County earning between 30% and 50% Area Median Income (AMI).
Helping Finance: SVB provided a $9mm construction loan. The Grand Opening was in mid-summer 2013.
Project Scope: The Eden Housing development of Wexford Way & Carlow Court provides 180 rental apartments for seniors and families located at 6880 Mariposa Circle, Dublin, CA. The master-planned community through Eden Housing's free residential services for families, it provides programs in technology training, financial literacy, community involvement, green education, health, wellness and safety. In addition for those senior residents' programs are designed to help them age in place and live independently in a healthy and productive manner.
Lending a Hand: Using the latest "Green Building" techniques and materials, Eden Housing features, among other "green" elements – solar hot water and solar photo-voltaic to reduce energy consumption. The project serves those seniors and families earning between 30% and 50% Area Median Income (AMI) for Alameda County.
Helping Finance: SVB provided a $7mm construction bond, as well as sponsor at $1.2mm Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of San Francisco. Grand opening was in first half of 2013.
The six properties listed below are under construction and are expected to open in 2014.
Project Scope: Mercy Housing California is constructing a 90 unit building in San Francisco’s Tenderloin Neighborhood at 121 Golden Gate Avenue. It is a new 10-story construction built on an air rights parcel over the St. Anthony Foundation’s new kitchen/dining hall/social service facility.
Lending a Hand: Floors 3-10 will be developed into affordable housing for very low-income seniors. In addition to a main community room, each level will have a small community room with a television, library, computers and an exercise facility.
Helping Finance: SVB sponsored a $900,000 Affordable Housing Program (AHP) grant with the Federal Home Loan Bank of San Francisco. Further project is being developed through the use of private activity tax-exempt bonds and low income credits, as well as a HUD 202 Capitol Advance, schedule to open the second half of 2014.
Project Scope: Mercy Housing California is the sponsor and developer for this new construction project for 150 family units located in San Francisco at the corners of 4thand Channel Streets in the Mission Bay neighborhood.
Lending a Hand: Of the total number of units being developed, 25 are designated for formerly homeless residents with incomes at or below 30% of the Area Median Income (AMI) for San Francisco County.
Helping Finance: SVB purchased $17mm in bonds for the construction of the project, scheduled to open in 2014.
Project Scope: Sponsor and developer, Eden Housing, Inc. is building a 22 unit senior housing project located at Grand Street at B Street, Hayward, CA.
Lending a Hand: The project is being built adjacent the existing Hayward Senior Housing complex designated for seniors with incomes of 30% of the Area Median Income (AMI) for Alameda County. Conveniently located in downtown Hayward, the facility is within easy walking distance of retails shops, a major grocery store, pharmacy and restaurants.
Helping Finance: SVB is providing a $5mm construction bond and almost $4mm of tax credit equity for the project. SVB sponsored a $210,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of San Francisco.
Project Scope: Chinatown Community Development Corporation (CCDC) is the sponsor and developer of this new 8 story building consisting of 75 units at 25 Broadway in San Francisco.
Lending a Hand: The 75 units will serve low-income families earning 30%-50% Area Median Income for San Francisco County, while the balance of the units will provide for the homeless earning less than 20% Area Median Income (AMI).
Helping Finance: SVB is providing a tax-exempt bond purchase for almost $24mm for this new construction which is anticipated to be completed by February 2015.
Project Scope: PEP or Petaluma Ecumenical Properties is the developer of this 50 unit apartment project located at 855 Wood Sorrell Drive, Petaluma, CA.
Lending a Hand: Designed for an independent senior population earning up to 50% Area Median Income (AMI) for Sonoma County.
Helping Finance: SVB purchased a construction bond of over $10mm for the development of this project, as well sponsor a $490,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of San Francisco.
Project Scope: Jointly developing, Bridge Housing and Community Housing Partnership, a 120 unit apartment project located in San Francisco’s South of Market neighborhood, in the Transbay Redevelopment Area.
Lending a Hand: Rene Cazenave Apartments will provide housing for formerly homeless residents with onsite medical and counseling services.
Helping Finance: SVB provided over $5.5mm construction loan for the project, as well as sponsor at $1mm grant from the Affordable Housing Program (AHP) of the Federal Home Loan Bank of San Francisco.
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