Emerging Developers Program

Advancing Equity in Affordable Housing

Century Housing Corporation proudly extends financial support to minority and female affordable housing developers through the Emerging Developers Program. This program underscores Century’s unwavering commitment to fostering racial and social equity in the housing sector for developers who often encounter disproportionate barriers when seeking financing.

The Emerging Developers Program operates through a special purpose credit program, funded by a dedicated $15 million credit facility from JPMorgan Chase Bank and a $10 million Racial Equity Bond issued to U.S. Bank.

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Recent Projects Utilizing the Emerging Developers Program

4345 Crenshaw Boulevard

Leimert Park (Los Angeles), California

Developer
Venice Community Housing

Century Loan Amount: $3,350,000
Loan Type: Acquisition
Units: 61
Population: Families

Venice Community Housing is partnering with Liberty Community Land Trust to develop a 100%-affordable development near the Baldwin Hills Crenshaw Mall and Leimert Park Metro Rail station. The project will serve low-income Los Angeles households earning 30-60% of AMI.

Valley Pride Village

Sylmar, California

Developer
Alliance Property Group

Century Loan Amount: $16,650,000
Loan Type: Acquisition
Units: 88
Population: Seniors

Alliance Property Group is partnering with nonprofit Community Bible Community Development Corporation to preserve affordable rents at Valley Pride Village Apartments, a senior community. The project will add affordable homes, most of which will target seniors earning 50-80% of AMI, with the rest remaining unrestricted and serving current voucher holders.

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Century Housing Corporation is a nonprofit Community Development Financial Institution financing affordable housing development throughout California. Century Villages at Cabrillo, Inc. and Century Affordable Development, Inc. are independent nonprofit entities affiliated with Century Housing Corporation.

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