Building for the Future

Century’s story is one of transformation—born from the fight for equity and shaped by a commitment to housing justice.

For 30 years, we’ve turned bold ideas into lasting impact: funding thousands of homes, repurposing land for communities in need, and developing financial solutions that expand access to affordable housing. But our work is far from finished.

The next 30 years demand even greater collaboration, creativity, and action. By working together—across sectors and communities—we can build a future where housing is a foundation for opportunity and every person has a place to call home. Join us in shaping what comes next.

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Celebrating Our History

Foundations and Advocacy

1968–1995

Century Housing’s story began with a fight for equity, born from the legal battle over the Century Freeway. Over the decades, we evolved from a court-mandated program into a pioneering nonprofit, financing thousands of affordable homes and shaping communities across California.

From transforming a former naval base into a thriving supportive housing campus to leading financial innovations that fuel new development, our commitment to housing justice has never wavered. As we look ahead, we remain dedicated to building a future where every person has a place to call home.

  • 1968

    1

    Century Freeway Plans Approved

    The State approved plans for the Century Freeway (I-105), a 10-lane highway with 20 intersections which displaced 7,000 homes and 21,000 residents. The project was designed to connect LAX to the growing suburbs, but it disproportionately impacted low-income and minority communities. This sparked opposition and legal battles that reshaped affordable housing policy and ultimately led to the creation of Century Housing.

    Pregerson Interchange opening ceremony.

  • 1972

    2

    Judge Pregerson and Keith v. Volpe

    The landmark Keith v. Volpe case halted the Century Freeway project, citing environmental and social impacts. Judge Harry Pregerson, a World War II Veteran, oversaw the litigation and later helped establish affordable housing initiatives as part of a transformative settlement.

  • 1979

    3

    Consent Decree Creates Century Freeway Housing Program

    Judge Pregerson issued the consent decree that established the Century Freeway Housing Program, a state agency tasked with replacing homes lost during freeway construction and promoting job training and local hiring. This program became a model for balancing infrastructure with justice.

    Century Freeway Housing Program Banner

  • 1995

    4

    Century Housing Becomes an Independent Nonprofit

    The Century Freeway Housing Program transitioned into Century Housing, an independent nonprofit—the first instance of a California state agency privatizing. Over the previous 14 years, the Century Freeway Highway Program had exceeded its goals, producing more than 5,700 affordable homes.

Building Communities and Expanding Impact

1997-2019

With a strong foundation in place, Century Housing expanded beyond its original mandate, pioneering community development projects that transformed neighborhoods. From launching innovative supportive housing communities like Century Villages at Cabrillo to funding schools and job training programs, Century grew into a trusted partner in creating stable, thriving communities.

Achieving CDFI certification in 2010 allowed Century to further its impact, providing financing that supported tens of thousands of affordable homes across California.

  • 1997

    1

    Westside Residence Hall Opens

    Century’s $5.6 million in loans helped develop Westside Residence Hall, a 316-unit transitional housing community for homeless Veterans. This success inspired future collaborations, including the creation of Century Villages at Cabrillo.

    Westside Residence Hall

  • 1997

    2

    Century Villages at Cabrillo Transforms Naval Base

    Century invested $13 million to acquire and redevelop a former naval base in Long Beach into a 27-acre supportive housing community. Today, it serves over 1,500 residents, including Veterans and families.

  • 2004

    3

    Century Launches Charter Schools

    Century founded the Century Community Charter School and later the Century Academy for Excellence in Inglewood to serve middle-school students. These schools, which became independent in 2011, provided alternative education options to over 6,000 students.

  • 2010

    4

    CDFI Certification Expands Lending Statewide

    Century became a certified Community Development Financial Institution (CDFI), enabling it to finance housing developments across California. This milestone was supported by a $5 million award from the U.S. Treasury’s Capital Magnet Fund.

    CDFI Fund logo.

  • 2011

    5

    More Than Shelter Fund Grants

    The More Than Shelter Fund launched to support education, job training, and environmental initiatives that strengthen housing stability and community resilience. It later grew into the Century Community Fund, which creates opportunities through the Century Education Opportunity Scholarship Program and small business loans.

  • 2015

    6

    $1 Billion in Financing Milestone

    Century reached $1 billion in loans, supporting over 25,000 affordable homes and creating thousands of jobs across California.

  • 2019

    7

    Development Roles at West LA VA and San Pedro

    Century began planning over 1,600 supportive homes at the West LA VA campus and played a leading role in the redevelopment of One San Pedro, solidifying its expertise in large-scale, multi-phase developments.

Leadership and Financial Innovation

2020-2024

As the housing crisis intensified, Century Housing emerged as a leader in financial innovation, leveraging new investment tools to accelerate affordable housing development. By pioneering ESG-designated municipal bonds and launching impact-driven investment programs, Century set new standards for sustainable and socially responsible finance.

Strengthened by an upgraded S&P credit rating and major new housing projects, the organization continues to push boundaries, ensuring that its work remains at the forefront of addressing California’s housing challenges.

  • 2020

    1

    First CDFI to Issue ESG Municipal Bonds

    Century made history by issuing $85 million in ESG-designated municipal bonds, becoming the first CDFI to achieve this milestone. The bond proceeds support the development and preservation of affordable housing with early-stage financing including acquisition, bridge, and construction loans. Sustainalytics provided a third-party opinion affirming the environmental and social benefits of this innovative approach.

    Street View of Century Housing Office in Culver City

  • 2021

    2

    Launch of Century Sustainable Impact Notes

    Century introduced Sustainable Impact Notes, offering institutional and retail investors opportunities to support affordable housing. By 2022, the program had raised over $100 million, financing 5,400 energy-efficient homes.

  • 2022

    3

    Launch of Commercial Paper Program

    Century launched a $100 million commercial paper program, rated A1+ by S&P and F1+ by Fitch. This program provides developers with short-term, flexible financing for energy-efficient and transit-oriented projects.

  • 2023

    4

    S&P Credit Rating Upgraded to ‘AA’

    S&P Global Ratings upgraded Century’s issuer credit rating to ‘AA,’ reflecting its strong financial performance and capacity to lead in affordable housing finance.

  • 2024

    5

    Milestone Year: Three Housing Communities Open

    Century Affordable Development, Inc. celebrated the opening of The Cove (90 units at Century Villages at Cabrillo), The Banning (64 family homes in Wilmington), and The Moonstone (40 adaptive reuse units in Redondo Beach). These projects highlight Century’s innovative approaches to addressing homelessness and housing insecurity.

    Collage of communities developed by Century.

  • 2024

    6

    Inglewood Home Assist Fund’s First Loan

    In 2024, Century closed its first loan through the $75 million Inglewood Home Assist Fund, following its selection as administrator through a competitive RFP process in 2023. The loan supported Community HousingWorks in preserving affordability at Stadium Village, an 80-unit apartment complex. The Inglewood Fund aims to prevent the displacement of longtime residents as the city experiences rapid growth and rising rents.

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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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