Entries by bmalecki

Lending Matters in August

Last month Century closed two loans with Skid Row Housing Trust: —$2,100,000 in acquisition financing will help Skid Row Housing Trust develop Sherman Way Apartments in Downtown Los Angeles: 65 units, most of which are reserved for homeless veterans with special needs. —Just a few blocks south, Skid Row Housing trust is building Carondelet Apartments, […]

Aszkenazy Brings 62 Affordable Homes to San Fernando

Residents of the City of San Fernando have Aszkenazy Development, Inc. to thank for Park View Place, a new residential development providing 62 homes affordable to low-income individuals and families, with some reserved for those with special needs. Aszkenazy Development has played an integral role in revitalizing the City of San Fernando, with Park View […]

Canby Woods Opens in Reseda

Exactly two years after a smashing groundbreaking ceremony, Los Angeles City Councilman Dennis Zine returned to Reseda to unveil Canby Woods, the latest affordable housing wonder developed by Thomas Safran & Associates. Like their previous Del Rey Square, the project includes landscaped gardens and outdoor sitting areas and warmly decorated interiors which, this time, will […]

Meta Housing’s Senior Arts Colony Continues to Impress

We reported on attention Long Beach Senior Arts Colony was getting from PCBC and Affordable Housing Finance last month. This month, Multi-Housing News ran a lengthy feature which details the partnership between the developer, the state, conventional banks, and Century. Congratulations to Meta Housing for all the well-deserved publicity!

Lending Matters in July

Lending activity picked up in July with Century closing two loans within a span of two weeks: —The Core Companies received $8,672,745 in acquisition financing for 236 low income family homes in San José which will become Newbury Park. —Vitus Group’s Meadowbrook Apartments, 448 low-income family units in San Diego, received $1,500,000 in Century predevelopment […]

The Los Angeles Business Journal’s Nonprofit & Corporate Citizenship Awards

Last month, The Los Angeles Business Journal announced that Century has been nominated for the 3rd Annual Nonprofit & Corporate Citizenship Award.  Century not only creates affordable housing in California, but is a prominent contributor in numerous charitable activities and events.  Some of the organizations that Century has contributed to include YMCA, Midnight Mission, Children’s […]

Century Annual Report Hitting Mailboxes

Look out for the Century’s 2012 Annual Report due to arrive sometime this week. The theme, Lending Matters, explores the tremendous opportunities for investment throughout California with diverse examples of Century’s acquisition, bridge, and construction loan products in action. If you have not joined our mailing list, please add your address here and download the […]

Meta Housing Collecting Accolades for Senior Arts Colony

Meta Housing, one of Southern California’s most experienced developers and a long-time Century client, has been awarded the prestigous PCBC Golden Nugget Award for Best Senior Housing Community. The winning project, named Long Beach Senior Arts Colony, is an expansive 200 unit development located along Long Beach’s light-rail line and housing 200 lucky seniors. The […]

Lending Matters in May

On May 29th, Century attended the Grand Opening of Terra Bella in Bell Gardens, where we received a Letter of Recognition from Congresswoman Lucille Roybal-Allard for our contribution. The 65 unit low-income senior housing project, developed by Abode Communities, was supported by a $3,179,000 Century acquisition loan. Also last month, developer Prakash Chandran received $593,000 […]

See Aaron at the NH&RA Developers Forum

Our Senior Vice President, Aaron Wooler, will be speaking on the “Policy & Programs in Context: How Will Affordable Housing Fare in 2013 and Beyond” panel at the National Housing and Rehabilitation Association’s 2013 Spring Developers Forum held Wednesday, May 8th, in Marina del Rey. Learn about the future of affordable housing finance and speak […]

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 […]

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 […]

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 […]