Del Rey Square Opens to LA Seniors

Los Angeles City Councilman Bill Rosendahl took the wraps off Del Rey Square, a 124 unit senior housing community in West Los Angeles, on April 12, 2013. Open to formerly homeless  and low-income seniors, the complex includes a computer room, fitness center, and private balconies and patios which complement the spectacular Spanish-style exterior. Century helped […]

Century Loans in April

Century recently closed two loans in Southern California: —Jamboree Housing and WNC Investment Partners are developing Arbor Terrace Apartments in Colton (San Bernardino County) with Century’s $12,350,000 acquisition loan, our first deal financed using the Golden State Acquisition Fund. The project will rehabilitate 129 family apartments, adding improvements such as new bathrooms, kitchens and appliances, and […]

Stop By Our Booth at Affordable Housing’s Largest Conference

Century will be attending Housing California’s Annual Conference in Sacramento again this year, so be sure to stop by our booth and say hello. Online registration is closed, but onsite registration will be available at the event running between April 16-18. Be sure not to miss the Golden State Acquisition Fund panel, where our own […]

ALA’s Janet L. Witkins Center Breaks Ground

Los Angeles County Supervisor Zev Yaroslavsky joined a long roster of city officials to celebrate the ground breaking of The Janet L. Witkins Center in the heart of West Hollywood on March 15, 2013. Named after the founder of Affordable Living for the Aging (ALA), an organization dedicated to senior housing and also this project’s […]

Menlo Family Apartments Opens in Central LA

Little Tokyo Service Center (LTSC) and Koreatown Youth & Community Center’s (KYCC) newly developed Menlo Family Apartments opened  its doors to low-income and special needs residents last month. The development transformed a crime-ridden corner near the intersection of Pico Blvd. and Vermont Ave. into 60 low-income family and special needs apartments. Menlo Family Apartments targets families […]

LA County Supervisors Approve $15 Million for Affordable Housing

The preservation and creation of affordable housing has been a longstanding goal of both Los Angeles County and many of its 88 cities, but the demise of redevelopment agencies delivered a blow to low-income residents struggling in one of the nation’s most difficult housing markets. On March 5, 2013, acting on a joint motion by […]

More Housing Options Coming to Panorama City

Last week’s closing of a $4,550,000 Century construction loan is paving the way for new workforce apartments in Panorama City thanks to developers Gary Kleinman, David Kleinman, Mike Engelman, Al Leibovic, and Marat Dreicer.  The 28-unit two- and three- bedroom project, named Nordhoff Apartments, will be opening its doors to San Fernando Valley residents in early […]

Positive First Steps for Affordable Housing in Culver City

Assemblymember Holly Mitchell joined Mayor Andy Weissman and a well-rounded panel of housing developers (Los Angeles Housing Partnership and Habitat for Humanity), investors (Bank of America and Union Bank), and other leading advocates at the Culver City Council Chambers at last week’s Affordable Housing Roundtable. The first such event hosted in Culver City generated a […]

Golden State Acquisition Fund Launches

The long awaited  Golden State Acquisition Fund (GSAF), a $93 million source of flexible acquisition financing to developers throughout California, has made its official launch thanks largely to seed money from the California Department of Housing and Community Development. As an official loan originator, Century is now taking applications from both nonprofit and for-profit developers. […]

Three Loans, Over $30,000,000 Invested

Century ended 2012 with three standout loans to three very deserving developers in Southern California: -Treadstone Companies received $14,130,000 in bridge financing for Warwick Terrace Apartments; 108 units in Compton. -Bromont Villas, 49 units in Sylmar, will be developed by Yoram Hassid thanks in part to Century’s $7,850,000 construction loan. -LOMCO was awarded a $9,000,000 acquisition […]

Some Cause for Celebration

Everyone knows about the “Fiscal Cliff,” which was probably more like a small hillock.  And by now, most folk know that Congress and the President figured out a last minute (actually, it was after the last minute, but who’s counting) compromise to avoid the tax increase components of the problem.  But the popular press has […]