Century Housing, Lument, and Downs Pham & Kuei LLP hosted the California Developer Roundtable on Thursday, Feb. 15, our annual gathering of real estate development leaders and partners. We are grateful for the participants who faithfully attend our roundtable every year, as well as the new faces who joined us. It was also an honor […]
We are excited to announce the recipients of this year’s Tim O’Connell Scholarship. Century established the scholarship fund in 2018 in memory of Tim O’Connell, a longtime Century employee who was a strong advocate for social justice and lifelong learning. Qualified applicants can earn a $1,000 scholarship per calendar year; they can renew it for […]
by Nick Friend, Director, Northern California Century recently closed its latest Portfolio Reinvestment Program (PRP) project with Eden Housing: Vista Verde, a 76-unit apartment complex in Santa Cruz County, which is undergoing rehabilitation as part of California’s innovative PRP initiative. Through this program, the state is repurposing leftover federal COVID relief funds to support aging properties with […]
CULVER CITY, CALIF. – Century Housing, a nonprofit lender, developer, and manager of affordable housing, announced today that MacKenzie Scott donated $15 million to the organization through her philanthropic fund, Yield Giving. The unrestricted gift will support Century’s critical work across the state of California to create and preserve affordable housing and build stronger, healthier […]
Bond will provide capital for special purpose credit program dedicated to women and minority developers of affordable housing Century Housing Corporation has issued a $10 million Racial Equity Bond to further fund Century’s Emerging Developers Program, a special purpose credit program supporting women and minority developers. Structured by U.S. Bank, a mirror issuance of the […]
We are proud to announce the Community Development Financial Institutions Fund (CDFI Fund) has awarded a $7,803,750 grant to Century Affordable Development, Inc. (CADI) through its Capital Magnet Fund. CADI is one of 52 organizations receiving $321.2 million via the Capital Magnet Fund. The award will help CADI pursue its important work creating and preserving affordable […]
Today we are writing to share important news regarding Century Villages at Cabrillo’s leadership. After 20 years of dedicated service to Century Housing, including 10 years as executive director of the Villages, Steve Colman has announced his retirement. Steve’s vision, passion, and collaborative spirit have been instrumental in shaping the Villages into the transformative community […]
This week, Century Affordable Development, Inc. broke ground on Villa Vanowen, a 64-unit, supportive housing development in Van Nuys that will provide affordable homes for unhoused individuals. The People Concern will provide on-site supportive services for the residents. “We are excited to bring these homes to the San Fernando Valley, an area in critical need […]
Century Housing celebrated the groundbreaking of several new residences on the West Los Angeles VA North Campus on June 27th, alongside our partners in The Veterans Collective (Thomas Safran & Associates and U.S.VETS), The Core Companies, and the U.S. Department of Veterans Affairs Greater Los Angeles. These communities will provide 374 permanent supportive homes for […]
S&P Global Ratings announced it has upgraded Century Housing’s issuer credit rating to ‘AA,’ from ‘AA-’. This makes Century currently the highest-rated Community Development Financial Institution (CDFI) rated by S&P Global. “We are gratified that S&P Global Ratings recognizes Century’s creditworthiness as a CDFI, which allows us to pursue innovative financial solutions to the housing […]
The Century Community Fund (CCF) expands our mission to advance equitable housing and community development. Through impact-driven investments and grants, we aim to address the barriers to housing, employment, and other opportunities for stability that residents disproportionately face in low-wealth communities.
Residents Find Dignity and Hope: Joseph – Stability and Peace After Years of Experiencing Homelessness; Christina – A Place to Call Home for Single Mother and Children
Lending Highlights: National CORE Names Century Corporate Partner of the Year; Emerging Developers Program & Commercial Paper Program; Preventing Displacement in the Bay Area with Eden Housing
Sustainability-labeled commercial paper program designed by U.S. Bank will help fund affordable housing developments in California MINNEAPOLIS (December 20, 2022) – Century Housing Corporation and U.S. Bank announced today that they have utilized an innovative capital markets solution to help fund Century’s affordable housing development projects. Century’s new sustainability-labeled commercial paper program provides the organization […]
Impact Investments Promote Sustainable and Energy Efficient Building Practices Century Housing has achieved a significant impact investing milestone by issuing more than $100 million of Century Sustainable Impact Notes (“Notes”), the net proceeds of which refinance existing indebtedness and finance affordable housing developed with energy efficient features, sustainably sourced materials, and in close proximity to […]
Century closed its second loan utilizing the Century Emerging Developers Program with a local nonprofit active in the affordable development space. Through the program, Century provides financing to minority and women-owned developers who, because of organizational size, lack of capitalization, or limited track records, do not have access to financing on the same terms as […]
Earlier this month, we celebrated the 25th Anniversary of Century’s stewardship of the Villages at Cabrillo at the Aquarium of the Pacific in Long Beach. More than 200 guests joined us representing our myriad stakeholders that have contributed to the creation of this special community over the years. A community premised on housing and serving […]
The Banning, our first HHH development in the City of Los Angeles and a proud moment for Century, broke ground yesterday. For those that weren’t able to join us, it was a spectacular event that featured our Mayor, Eric Garcetti, State Senator Steven Bradford, Assemblymember Mike Gipson, our Board Chair Yvonne Burke and others. It […]
Recently, Governor Newsom signed the 2022-23 CA state budget, which includes authorization of $50M to establish the California Investment and Innovation Fund, a state-level Community Development Financial Institution (CDFI) fund. This is a great moment for CDFIs and the communities they serve. This investment will strengthen and further support the work of CDFIs that are actively engaged in […]
From the Lending Group: In early 2021, a client new to Century, HIP Housing, approached us about helping preserve 14 apartments with reasonable rents in the Bay Area city of Menlo Park. The project on Coleman Place looked like an unsuspecting site for affordable housing innovation, but within the compact 1950s buildings lay an economic conundrum being confronted around the state. With new affordable housing ever more expensive to produce, what can be done to preserve existing affordable housing stock at lower total cost?
From the Lending Group: According to the Bureau of Labor Statistics, 91% of the construction industry is composed of men. Following trends in the financial and tech industries, women, and especially minority women, are entering this space at an accelerated rate and bringing a new energy to a field that will need more creativity and more entrepreneurial spirit to keep up with demand.
From the Lending Group: Century Housing provided patient early stage financing for Enlightenment Plaza, an affordable housing project planned for Rampart Village. This Los Angeles neighborhood with a reputation for unchecked blight and drug activity, will be reimagined by Flexible Housing Solutions and The Pacific Companies into a 454 unit campus composed entirely of permanent supportive housing for individuals transitioning from homelessness.
From the Housing Group: Veteran homelessness is a stain on the American Flag and Los Angeles is its epicenter. In the latest survey, there were nearly 4,000 Veterans and many more family members homeless on the streets of Los Angeles on any given night. Since 2018, Century Housing and its partners at The Veterans Collective have been planning and developing a large-scale solution on the historic grounds of the West Los Angeles VA Campus on approximately 70 acres north of Wilshire Boulevard.
From the Finance Group: With your support, Century Housing has grown into one of the largest originators of acquisition loans serving affordable housing in California. This early-stage financing clears a big predevelopment hurdle and, in conjunction with other Century loan products, allows more than 4,500 safe and affordable apartment homes to proceed with development every year.