San Jose Bank to raise more than $100M to pay for new headquarters

By David BauderPublished August 16, 2018 3:34:22SAN JOSE — The co-operative bank that will open in San Jose will raise more that $100 million to fund the building of a new $10 billion headquarters, the company said Tuesday.The company is already working with several developers to bring a $1 billion building, which would occupy the…

Published by admin inAugust 7, 2021
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By David BauderPublished August 16, 2018 3:34:22SAN JOSE — The co-operative bank that will open in San Jose will raise more that $100 million to fund the building of a new $10 billion headquarters, the company said Tuesday.

The company is already working with several developers to bring a $1 billion building, which would occupy the current headquarters space, to San Jose.

The $10.5 billion project, which will be completed by 2027, is expected to bring new jobs and improve the area’s livability.

The company also said it plans to add a parking garage, a parking deck and an underground parking facility.

The San Jose-based co-op, known as Salem Cooperative Bank, is also looking at expanding its operations in other areas of the Bay Area, including the San Jose area.

It has about 700 employees in San Francisco and about 20 employees in Oakland.

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