Living Our Values Affordable Housing

Affordable Housing

Affordable housing is essential for healthy communities. SVB has invested and loaned more than $2B for housing since 2002.

Building solutions to the housing shortage
 

Silicon Valley Bank’s Community Development Finance team has committed nearly $750 million in investments and nearly $1.3 billion in loans to help build or rehabilitate 9,418 affordable-housing units in the past two decades. We partner with affordable housing developers across Northern California to build homes for low- and moderate-income working families, seniors, veterans, people with disabilities and those who are chronically homeless.

Veterans - One year later in Willow housing
 

Military veterans formerly at risk of homelessness showcase what their new Silicon Valley homes mean to them.

Featured Affordable Housing Projects
 

2020

Berkeley Way and Hope Center

 

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Location and Details:
Berkeley, California

The project will provide 89 units serving low-income working families, 53 units of permanently supportive housing for people with disabilities or who are homeless or at risk of being and 44 shelter beds for men who are homeless, including 12 transitional beds for veterans.

SVB’s Role:

Provided a $56.5 million construction loan and $7.1 million investment to finance the new construction.

Maceo May Apartments

 
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Location and Details:
San Francisco, California

The project will provide 105 units for veterans who are homeless or formerly homeless and low-income veterans as part of the master planned redevelopment of Treasure Island.

SVB’s Role:

Provided a $43.7 million construction loan and a $15.6 million investment to finance the new construction.

2019

Park Avenue Senior Apartments

 
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Location and details:
San Jose, California

100 units for seniors with incomes between 30 percent and 60 percent of the area median.

SVB role:

Provided $12.8 million tax-exempt new construction loan to the Housing Authority of the County of Santa Clara (HACSC).

Second Street Studio Apartments

 
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Location and Details:
San Jose, California

134 energy efficient modular units for extremely low-income and developmentally disabled adults requiring in-home supportive services.

SVB’s Role:

Provided $27.4 million new construction loan to First Community Housing (FCH).

Valley View Senior Apartments

 
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Location and details:
American Canyon, California

70 new construction rental homes for extremely low-income seniors.

SVB role:

Committed $16 million tax-exempt construction loan to Satellite Affordable Housing Association (SAHA).

2018

Canon Kip Community Housing

 
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Location and Details:
San Francisco, California

104 renovated units for formerly homeless adults with special needs and incomes between 15 percent and 50 percent of the area median.

SVB’s Role:

Provided $11.6 million construction loan to Episcopal Community Services (ECS).

2017

1036 Mission Street Apartments

 
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Location and details: 
San Francisco, California

83 units for families with incomes between 30 percent and 50 percent of the area median.

SVB role:

Provided $9.4 million tax-exempt new construction loan to Tenderloin Neighborhood Development Corporation (TNDC).

City Center Plaza

 
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Location and details:
Redwood City, California

81 units for families with incomes no greater than 50 percent of the area median.

SVB role:

Provided $16.7 million tax-exempt new construction loan to MidPen Housing Corporation.

Columbia Park Apartments

 
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Location and details:
San Francisco, California

50 renovated multi-bedroom units for families with incomes no greater than 50 percent of the area median.

SVB role:

Provided $16 million tax-exempt construction loan through the purchase of private activity bonds to Mercy Housing California (MHC).

Harper Crossing

 
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Location and details:
Berkeley, California

42 units for seniors with incomes between 30 percent and 60 percent of the area median income.

SVB role:

Provided $10 million new construction loan and $9.3 million tax credit equity investment to Satellite Affordable Housing Associates (SAHA).

Las Palmas Apartments

 
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Location and details:
San Leandro, California

91 renovated units for families with incomes between 50 percent and 60 percent of the area median.

SVB role:

Provided $22.8 million tax-exempt construction loan through the purchase of private activity bonds to Eden Housing.

University Senior Apartments

 
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Location and details:
East Palo Alto, California

41 units for seniors with incomes between 30 percent and 50 percent of the area median.

SVB role:

Provided $20.3 million taxable construction loan and $16.2 million tax credit equity investment to MidPen Housing Corporation.

2016

AveVista

 
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Location and details:
Oakland, California

68 units for low-income families.

SVB role:

Provided $2.5 million construction loan to BRIDGE Housing.

Oak Creek Terrace Apartments

 
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Location and details:
Napa, California

40 units for low-income families.

SVB role:

Provided $9 million tax-exempt construction loan to Napa Valley Community Housing (NVCH).

Rosa Parks Senior Apartments Phase II

 
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Location and details:
San Francisco, California

98 units for seniors with incomes less than 50 percent of the area median.

SVB role:

Provided $29 million tax-exempt construction loan and $9 million in tax credit equity investment to the Tenderloin Neighborhood Development Corporation (TNDC).

Stonebridge Apartments

 
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Location and details:
St. Helena, California

80 units of rehabilitated housing for families with incomes no greater than 50 percent of the area median.

SVB role:

Provided $7.7 million tax-exempt construction loan to EAH Housing.

Transbay 6

 
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Location and details:
San Francisco, California

70 units adjacent to the new Transbay Terminal for families with incomes no greater than 50 percent of the area median.

SVB role:

Provided $15 million tax-exempt construction loan and $12.4 million in tax credit equity investment to Mercy Housing Corporation (MHC).

Willow Veterans Housing

 
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Location and details:
Menlo Park, California

60 units for formerly homeless veterans or those at risk of homelessness, adjacent to health care and vocational services at the Menlo Park Veterans Administration hospital campus.

SVB role:

Provided $9.3 million construction loan and $12.8 million in tax credit equity investment to CORE Affordable Homes and EAH Housing.

2015

1585 Studios

 
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Location and details:
Mountain View, California

27 units for developmentally disabled adults.

SVB role:

Provided $3.5 million construction loan to First Community Housing (FCH).

Broadway Sansome Family Apartments

 
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Location and details:
San Francisco, California

75 units for families with incomes between 30 percent and 50 percent of the area median and formerly homeless individuals.

SVB role:

Provided $24 million tax-exempt construction loan to Chinatown Community Development Center (CCDC).

Parkside Studios

 
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Location and details:
Sunnyvale, California

59 units for individuals and small households with low incomes and chronically homeless individuals. Used modular construction—a first in the Bay Area.

SVB role:

Provided $11 million construction loan to Charities Housing.

Weinreb Place

 
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Location and details:
Hayward, California

22 housing units near the BART station for seniors with incomes no greater than 30 percent of the area median.

SVB role:

Provided $5.3 million construction loan and $3.7 million in tax credit equity investment to Eden Housing.

2014

Kellgren Senior Apartments

 
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Location and details:
Petaluma, California

50 units for independent seniors with incomes no greater than 50 percent of the area median.

SVB role:

Provided $10 million tax-exempt construction loan to PEP Housing.

Vera Haile Senior Housing

 
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Location and details:
San Francisco, California

90 units for low-income seniors above the St. Anthony Foundation facility.

SVB role:

Provided 49 percent of $22 million construction loan to Mercy Housing Corporation (MCH).