SVB Didn’t Just Lend to Startups. It Was Key Partner for Affordable Housing
- San Francisco housing scheme stalled over $52 million SVB loan
- California’s housing crisis has driven up rental, home prices
Construction on The Kelsey Civic Center, a 112-unit affordable housing project across from San Francisco City Hall, was supposed to begin this week.
But the lender for the project’s $52 million construction loan was Silicon Valley Bank.