11 Bay Area affordable housing projects squeezed by Silicon Valley Bank collapse

Rendering of The Kelsey Civic Center planned for San Francisco. (WRNS and Santos Prescott and Associates)

The sudden and spectacular collapse of Silicon Valley Bank didn’t just wipe out venture-backed tech startups. It also hit many of the Bay Area’s largest nonprofit housing developers, forcing construction delays and throwing at least a thousand desperately needed low-income units planned for the region into uncertainty.

Nonprofit developers are now scrambling to find financing for projects after the bank — a key affordable housing lender in the Bay Area — told them it couldn’t move forward with plans to issue new loans. Others are left asking

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