Read Century’s 25 Year Report

Read Century’s 25 Year Report

Celebrating a quarter century of commitment to one vision: homes are the cornerstone of a thriving and just society.

Celebrating a quarter century of commitment to quality affordable housing.

To All Friends of Century,

This year is the 25th anniversary of Century Housing’s incorporation as a nonprofit. Century’s predecessor, The Century Freeway Housing Program, a state agency created to replenish the homes and apartments destroyed by the construction of the Century Freeway, was to disband in 1995 after having successfully completed its mission.

The remaining cash assets of the agency (approximately $140 million) were to be returned to the General Fund in Sacramento. Instead, under the guidance of Judge Pregerson, the state agency was converted to Century Housing Corporation to ensure that these assets would be used to provide for affordable housing in perpetuity. As a result of the Judge’s foresight, Century has cumulatively invested more than $2 billion in the creation and preservation of approximately 45,000 affordable homes throughout California.

In normal times, such stellar achievements would call for a spectacular gala event. These are not normal times. Instead, Century is celebrating our 25 years of service with two $25,000 donations paying tribute to our legacy charter school programs: Century Community Charter School (CCCS) and Century Academy for Excellence (CAFE).

Century established and funded the creation of these two middle schools in 2004 and 2012, respectively, and administered each of them for a number of years until each was spun off as a separate nonprofit organization. Both schools are located in Inglewood and serve low income, minority communities: CCCS has 451 students and 86% are Hispanic, 11% are Black, and 85% qualify for free lunch. CAFE has 150 students and 95% are Black, 5% are Hispanic, and 100% qualify for free lunch.

Since we will not have a gala booklet for this anniversary, I encourage you to view the remainder of this online presentation, including the timeline on this page and the 25 Year Report PDF, as a reminder of Century’s remarkable past.

Thank you for helping us continue our mission,

Ron Griffith
President and CEO, Century Housing

There are still days when he wakes up worried that someone will “pull the rug out and tell [him he has] to go back to living on the streets.”

The Numbers Behind the Impact

Century’s social impact cannot be communicated by numbers alone. Each affordable home created or preserved can serve dozens of individuals and families and benefit them and the surrounding community in ways that are difficult to measure. Keeping one chronically person off city streets can save more than $440,000 every year, and the benefits of affordable housing extend to the environment through green and energy-efficient building practices and close proximity to public transit. That said, our numbers also look pretty good!

$2000000000

Invested in Affordable Housing

45000

Affordable Homes Financed
and Developed

Century’s award-winning development work in Long Beach led to opportunities in San Pedro and the West LA VA campus.

  • 1967

    Judge Harry Pregerson Appointed

    Judge Harry Pregerson is appointed to the U.S. District Court for the Central District of California in 1967 by President Lyndon B. Johnson. A U.S. Marine veteran wounded in the Battle of Okinawa, Judge Pregerson is later elevated to the U.S. Court of Appeals for the Ninth Circuit by President Jimmy Carter. Judge Pregerson presided over the litigation regarding the Century Freeway for more than 40 years.

  • 1968

    Century Freeway Adopted

    The western portion of the Century Freeway alignment is adopted, a 10-lane highway with 20 intersections, displacing 7,000 homes and 21,000 persons. The original alignment of the Century Freeway adopted by the California Legislature in 1959 extended the freeway to San Bernardino.

    1968

  • 1970

    NEPA

    The National Environmental Policy Act (NEPA) takes effect. Adopted by Congress in 1969, this “environmental Magna Carta,” along with the Civil Rights Acts of 1964 and 1968, gave citizens the power to challenge federally funded activities in court. These laws were the basis for the landmark Keith v. Volpe lawsuit challenging the construction of the Century Freeway.

  • 1979

    Keith v. Volpe

    The Keith v. Volpe lawsuit filed in 1972 led to a preliminary injunction halting work. The 1979 Consent Decree establishes the Century Freeway Housing Program to replace 4,200 homes being lost during construction, as well as setting local hiring, job training, and contracting goals overseen by the Century Freeway Affirmative Action Committee and the Office of the Advocate for Corridor Residents.

    Century Freeway Housing Program Banner

    1979

  • 1993

    California’s Biggest Interchange

    The Judge Harry Pregerson Interchange, connecting the Century and Harbor Freeways (I-105 and I-110), exemplifies the complexity of the Century Freeway project. Named for Judge Harry Pregerson in 2002, it is the first time three modes of transportation (light rail trains, high-occupancy lanes, and individual vehicles) were directly connected in one intersection. Reputedly the biggest, tallest, and costliest traffic structure built in California at that time, it houses the Harbor Freeway Metro station, which connects the Metro Green Line light rail and Harbor Silver Line Transitway.

    Pregerson Interchange Opening

Century Housing Forms

In 1995, the Keith v. Volpe Consent Decree is amended to privatize the housing replacement program into the new Century Housing Corporation, the first conversion of a state agency to an independent nonprofit corporation in California. The replenishment program produced 5,700 affordable homes over 14 years. Century Housing assumes many of the nonhousing programs created under the Consent Decree under the umbrella of “More Than Shelter” activities.

  • 1997

    Athens Glen Opens

    Los Angeles County Supervisor Yvonne Burke presenting a commendation to Century Board member Bill Robertson and Executive Vice President Robert Norris at the opening of the 51-unit Athens Glen Apartments, one of the first developments financed by the newly founded Century Housing Corporation following privatization.

    Athens Glen Opening

  • 1997

    Century Community Children’s Center

    Century Community Children’s Center was developed in the Watts-Willowbrook community adjacent to the Rosa Parks transit station linking the I-105 Green Line and the Los Angeles-Long Beach Blue Line light rail systems. This Project Head Start childcare center continues to serve the surrounding community.

    1997

  • 1998

    President Clinton at Village Green

    President Bill Clinton dedicating Village Green, a 26-acre affordable housing community in Sylmar. The result of a unique partnership between Century, Fannie Mae, the Lee Group, and Braemar Urban Ventures, Village Green introduced the Partnership for Advancing Technology in Housing (PATH), a cooperative venture among utilities, building suppliers, homebuilders and public agencies to develop technologies that would reduce greenhouse gas emissions and energy use in homes. Village Green homes were located adjacent to public transit and a childcare facility, and incorporated high efficiency appliances, HVAC systems, and solar panels.

  • 2000

    City of Angels

    Artists Dan Van Clapp (pictured) and Paula Van Horn created Century’s entry in the Los Angeles “Community of Angels” sculptural project, entitled More Than Shelter, which was displayed in Pershing Square, and now graces our lobby. Benefitting the Volunteers of America and Catholic Big Brothers, some 400 angels were created and displayed throughout the city.

    Artist Paints Century Angel

    2000

  • 2000

    More Than Shelter For Seniors

    In order to assure that elder residents would have access to life-enrichment and wellness services, in 2000 Century provided seed funding and support to create More Than Shelter for Seniors. The program grew and was so successful that it achieved self-sufficiency, becoming a fully independent organization, renamed EngAGE, in 2007. Each year, these talented seniors, many of whom worked in show business, put on a Stage Revue. Others volunteer with children in nearby schools, teaching art and music.

  • 2003

    Parkside Teen Center

    Mayor Jim Hahn and Century Board members celebrate the opening of the Parkside Teen Center. The Parkside Apartments, developed in Downtown Los Angeles with Century financing, represents our More Than Shelter motto. In addition to the 78 family homes, Parkside provided free after school tutoring for children and preschool services in the Los Angelitos Children’s Center. Opened in 1998, Parkside later became the first of three Teen Centers developed with financial support from the Winston & Strawn law firm, serving the needs of older students.

    2003

  • 2003

    Casa de Cabrillo

    The Casa de Cabrillo apartments rise at the Century Villages at Cabrillo. These were the first permanent housing opportunities developed to serve homeless Veterans on the Long Beach site, providing 200 efficiency apartments for single Veterans, as well as common areas, recreational facilities, and offices for case management support. More than 500 armed forces veterans call the Century Villages at Cabrillo home. Among the many services available to them is the Career Center, operated by U.S. VETS, which provides retraining, counseling, and resources for Veterans seeking to re-enter the workforce.

    Casa de Cabrillo Under Construction

  • 2004

    Century Village at Cabrillo Grows

    The planned expansion of the Villages at Cabrillo campus proceeded from the initial Long Beach Savannah Housing to include Casa de Cabrillo (2004), the Family Commons Apartments, renovation of the Knabe Exchange to serve the residents (2009), and the Family Shelter (2012).

    2004 Century Villages Expansion

    2004

  • 2004

    Governor Schwarzenegger Visits CVC

    Governor Arnold Schwarzenegger announces the State’s “Initiative to End Long-term Homelessness” at the Casa de Cabrillo with L.A. County Supervisor Don Knabe, Long Beach Mayor Beverly O’Neill, and State Assembly Speaker Emeritus Bob Hertzberg, along with Century Board members and representatives of the Conrad N. Hilton Foundation and the Corporation for Supportive Housing.

    Governor Visits Century Villages

  • 2004

    Century Invests in Education

    The Century Community Charter School, founded in 2004, later joined by the Century Academy For Excellence, extended Century’s commitment to quality education to middle-school aged students in Inglewood. Over 6,000 students have benefitted from this Century initiative. Another example of Century’s approach to providing financial and administrative support until More Than Shelter programs became self-sufficient, both of the Century charter schools achieved independence in 2011, and continue to provide parents and students an alternative to neighborhood schools.

    Students Attending CAFE Charter School

    2004

  • 2008

    Oasis Center Shines

    Oasis Logo

    Century’s commitment to education included providing free after-school tutoring and educational enrichment for children living in Century-developed homes. The Century Learning Initiatives For Today (Century/LIFT) program served 300 students in ten locations at its peak. As school districts expanded their classroom supplemental programs, Century refocused its attention to the students living at the Villages at Cabrillo, where the Oasis Center helped children and teens with before- and after-school programs, and more during the annual Summer Camp. Today, Oasis services are available to all Villages residents and play a major planning role in coordinating the efforts of more than 15 on-site service providers. Learn more about Century’s work at the Villages at Cabrillo in our Social Impact Report.

  • 2009

    New Carver Apartments

    The New Carver Apartments, an award-winning facility developed by Skid Row Housing Trust, serves the needs of homeless adults and elders with chronic disease and disabilities in the South Park neighborhood of Los Angeles. This is only one of many developments of high quality and outstanding design that exemplifies the work of Century’s borrowers. It is estimated that there are more than 90,000 persons experiencing homelessness in California each year. Century has committed its resources to addressing this issue, and has helped finance emergency shelters, transitional housing, and permanent supportive homes for more than 2,500 households recovering from homelessness.

    New Carver Apartments Courtyard

    2009

  • 2010

    Century Community Training Program

    The Century Community Training Program (CCTP) built upon the expertise developed during construction of the Century Freeway to train local residents so that they could build careers in the construction industry. With funding from the Alameda Corridor Transportation Authority and the Department of Labor, CCTP provided over 600 men and women with the skills needed to achieve apprenticeship positions in the construction trades, with high wages and career paths ahead of them. Over one-half of the graduates were ex-offenders, and one-fifth were women entering nontraditional occupations. In 2010, CCTP was absorbed by the Century Center for Economic Opportunity YouthBuild program, which continues to train community residents for construction industry employment, and provide them a pathway to extend their educational achievements.

  • 2010

    Century Grows with Capital Magnet Fund

    Century lending programs expand to serve all of California, and Century received a $5 million Capital Magnet Fund award from the U.S. Treasury CDFI Fund to help fund our lending outside Southern California. Loans to help new housing in the Central Valley, Sierra Nevada Mountains, Salinas Valley, and elsewhere established Century as a leading lender statewide.

    2010

More Than Shelter

The More Than Shelter Fund acted as the umbrella for Century’s educational, job training and employment, child development, senior wellness and homeless Veterans service programs. Gala events and a Dream House Raffle raised capital to support these community development activities. In 2011, the More Than Shelter Fund was redirected to provide $100,000 in yearly grants to external programs aligned with Century’s social and environmental goals.

  • 2010

    Century Becomes a CDFI

    Century is certified by the U.S. Treasury as a Community Development Financial Institution (CDFI), and expands its market area outside the immediate Los Angeles-Orange County region, with loans in Kern and San Diego Counties.

  • 2011

    FHLB San Francisco Admits Century

    Century enters into new relationships with financial institutions, expanding access to capital to fund lending activities, and is admitted as the first CDFI nonprofit member of the Federal Home Loan Bank of San Francisco.

    2011

  • 2013

    Senior Developments

    Working with development partners like Thomas Safran & Associates, Century has assisted in the development of 3,250 homes for elder Californians in more than 40 service-enriched communities, like the Bill Rosendahl Senior Housing Community in Mar Vista.

    Rosendahl Senior Center Opening

  • 2015

    20 Year Anniversary

    Century celebrates 20 years of service, which coincides with the milestone of $1 billion in financing. Century loans have supported the development of more than 25,000 homes and thousands of full-time jobs throughout California.

    2015

  • 2015

    Pregerson Tower

    With its iconic Pregerson Tower, the Cabrillo Gateway project is Century’s latest accomplishment on the Villages at Cabrillo campus in Long Beach. Upon completion of this project, the Villages is home to over 1,200 persons who have experienced homelessness, half of whom are military Veterans.

  • 2017

    Anchor Place Opens

    As Century Villages’ fifth phase of campus development, Anchor Place provides 120 permanent supportive homes for homeless Veterans and homeless families. The LEED-certified development expands upon Century’s permanent supportive housing offerings while providing extensive service and amenity space.

    2017

  • 2018

    Tim O’Connell Memorial Scholarship

    Century establishes a yearly scholarship fund in honor of Tim O’Connell, a tireless advocate for affordable housing and social justice who passed away in 2018. Tim’s role as Century’s director of policy and advocacy had a tangible impact on the adoption of numerous state and local measures which continue to benefit California’s most vulnerable communities. We hope that Tim, and his vision for equitable city planning, will be remembered by a new generation of housing champions.

  • 2018

    Century Receives S&P Rating

    AA- Stable S&P Rating

    2018

  • 2019

    Development Work at West LA VA and San Pedro

    Century’s experience with multi-phase development leads to roles at One San Pedro and the West LA VA campus where more than 1,600 supportive homes for Veterans are being planned. Learn more about Century’s recent development work.

  • 2019

    Century Attracts New Investors

    A successful corporate bond offering paves the way for more impact investment opportunities.

    2019

2020 and Beyond

The year leading up to Century’s 25th Anniversary delivered more impact and growth than any prior period. Our 25-Year Report details these most recent activities and tells a more complete story about our residents, clients, and vision for the future of affordable housing.

Our Mission Would Not Be Possible Without Our Investors and Clients

Clients

Abode Communities
Affirmed Housing Group
Ahmad Samie
Alexis Gevorgian
Alliance Property Group
AMG & Associates
Anew Apartments
Barker Management
Behzad Okhovat
Burbank Housing Development
BRIDGE Housing Corporation
C&C Development
CDP Developers
Cesar Chavez Foundation
Charities Housing Development
Chelsea Investment Corporation
Chong Lee
Community Corporation of Santa Monica
Community Housing Partnership
Domus Development
EAH Housing
East Bay Asian Local
East LA Community Corporation
Eden Housing
Edward Lorin
Efi Meirson
Excelerate Housing Group
Father Joe’s Villages
Gina Candari
GTM Holdings
Hassan Soltani
Highland Property Development
Hollywood Community Housing
Housing Diversity
Jamboree Housing
Jonathan Lee
Kingdom Development
Komova Chandran Holding
LA Family Housing
Linc Housing Corporation
Maac Development Group
Many Mansions
Mercy Housing California
Meta Housing
Michel Welter
Mission Economic Development
National Community Renaissance
New Capital Cities Land Company
Ocean Development
Pacific West Communities
PATH Partners
Pinnacle Wilton
ROEM Development Corporation
Shahar Kalev
Shara L. Coletta
Shlomi Asiss
Skid Row Housing Trust
Soledad Enrichment Action
Solutions For Change
Southport Financial Services
Step Up On Second
Steven Bram
Steven Friedman
The Core Companies
The Pacific Companies
The Richman Group
Thomas Safran & Associates
Timothy R. Roth
Trestle Development
Trinity 22
Triton Community Development
USA Properties Fund
Uzi Levy
Veloce Partners
Visionary Home Builders
Wakeland Housing
West Hollywood Community
Yehunda Trattner
Yoram Hassid

Investors

AIG
The Ahmanson Foundation
Alliance Bernstein
Bank of New York
BBVA Compass
Bel Air Securities
Blackrock Financial Management
California Department of Housing and Community Development
California Housing Finance
Agency
Calvert Social Investment
Foundation
Cedars-Sinai
Charles Schwab Bank
CDFI Fund
City of Long Beach
City National Bank
Community Capital Management
EastWest Bank
Edison International
Federal Home Loan Bank
of San Francisco
Freeman E. Fairfield
Foundation
GE Foundation
HSBC Bank USA
Housing Partnership
Network
Hudson Housing Capital
The Josephine S. Gumbiner Foundation
JP Morgan Chase Bank
Long Beach Rotary Charitable Foundation
Los Angeles County Development Authority
Los Angeles Housing and Community Investment Department
MUFG Union Bank
Nuveen | TIAA
Pacific Western Bank
Payden & Rygel
PIMCO
Rodan Family Foundation
Rudolph J. and Daphne A.
Munzer Foundation
RSF Social Finance
San Luis Obispo Housing Trust
Sit Investments
The Weingart Foundation
US Bank
Wells Fargo