A $930,500 construction loan to Progress Place I and II, LP will provide financing to rehabilitate 8 apartments in 2 buildings in Boyle Heights into supportive housing for at-risk youth. The developer is Jovenes, a social service provider on the Eastside with a 20-year track record of helping homeless and at-risk youth, especially those in […]
Century closed a $1,000,000 line of credit to ANR Compton NSP, LLC, to acquire and rehab foreclosed homes in Compton. ANR Industries, a general contractor, has been working with several cities to deploy federal funds from the Neighborhood Stabilization Program in neighborhoods especially hard-hit by foreclosures in the past few years. ANR and Century are […]
A $3,750,000 Century acquisition loan to Market Park Partners, LP will purchase Market Park Apartments, 50 apartments for very-low income families in Inglewood. The property, located on North Market Street, will be recapitalized with tax exempt bonds and 4% tax credits and rehabilitated inside and out, starting in about six months. The developer, Vitus Group, […]
We are happy to report that New Carver Apartments, the visually striking downtown building developed by Skid Row Housing, has won the 2011 American Institute of Architects / U.S. Department of Housing and Urban Development Secretary’s Award for Excellence in Affordable Housing Design. The New Carver Apartments and the City of Los Angeles were also […]
Century’s $760,000 acquisition loan to 110 North D Street, LLC, will launch the development of eight affordable apartments for emancipated youth in Oxnard. The developer, Many Mansions, is the main affordable housing creator for special needs populations in Ventura County, and young adults who age out of the foster care system are often very vulnerable […]
Century’s $9,000,000 acquisition loan to Huntington Concord Partners, LP, will help preserve 162 affordable apartments for very-low income seniors in Huntington Park. The developer, LOMCO, has been the property manager since it opened 20 years ago. This was Century’s second deal with LOMCO, following a $12.5 million loan in 2008 for a similar development in […]
Century Housing announced today that it has been approved as a member of the Federal Home Loan Bank of San Francisco. Century, a nonprofit Community Development Financial Institution (CDFI), is the FHLBank’s first nonprofit, nondepository CDFI member in California. Membership offers Century access to innovative, competitively priced products and a variety of low-cost funding solutions. […]
Century Housing proudly joined Mayor Bob Foster and the Long Beach Housing Development Company in breaking ground on Long Beach Senior Arts Colony, a 200 unit senior residential community designed for citizens 55 years and above and earning 30%-60% of the Area Median Income. The Colony will offer on-site amenities such as community rooms, a […]
We are proud to announce Century’s $650,000 predevelopment loan to Aszkenazy Development for San Fernando Community Housing, 97 apartments for low-income families, including special needs households, to be developed in the City of San Fernando. This is Century’s second loan using the LA County Housing Innovation Fund (LACHIF), and it required a healthy dose of […]
Affirmed Housing Group has received a $268,000 Century Acquisition Loan to purchase one of several lots Affirmed and the City of Carson have assembled to develop 40 apartments for low-income families. This is Century’s second loan to Affirmed, a major affordable housing developer based in San Diego.
Thanks in part to a $3,700,000 acquisition loan from Century Housing and the first loan made by the LA County Housing Innovation Fund (LACHIF), Abode Communities broke ground on a new affordable senior housing community in Northwest Pasadena. The 45-unit development will replace a vacant, blighted building damaged by fire in 2005, and provide much-needed […]
Century Housing’s 2010 Annual Report offers a look into the highlights of the past year and important developments from years past. Presented in calendar format, the Annual Report contains photographs of twelve Century projects, including Del Sol Apartments, Century’s very first investment in San Diego. Century expanded farther out of Southern California in 2010, with […]
We are very pleased to report that on October 14, Congresswoman Barbara Lee and Donna J. Gambrell, the Director of the US Department of the Treasury’s CDFI Fund, announced that Century Housing was awarded $5,000,000 from the $80 million Capital Magnet Fund, to expand the geographic reach of Century’s lending programs. This grant was the […]
New York Times opinion piece discussing new legislation designed to boost affordable housing development. Read Story
Construction of new affordable homes is underway in San Diego, thanks in part to Century’s accelerated $1,850,000 predevelopment loan closed on June 15th. In a joint venture between Phoenix Realty Partners and Palm Desert Development Company, a 4.2 acre vacant site will become Mesa Commons, a community of 87 homes for low-income residents.