Borrower Spotlight: Domus Development

Century Housing is proud to spotlight Domus Development, a longtime client and trusted partner dedicated to creating housing that meets the needs of vulnerable Californians. Most recently, Domus repaid two Century-financed acquisition loans supporting meaningful new developments in both Northern and Southern California.

Oak Park Senior and Oak Park Family Apartments – Chico, CA

In Chico, Domus is developing two affordable housing communities, Oak Park Senior and Oak Park Family Apartments, for residents displaced by the devastating Camp Fire in 2018 and the Park Fire in 2024.

“Many of those affected lost homes and livelihoods, which is why the affordable housing being built at the Oak Park Senior and Oak Park Family projects is crucial to the surrounding community,” said Maurice Ramirez, President of Domus Development.

Once completed, the two developments will offer 136 homes, 100% of which are considered affordable, providing “seniors and families with a stable path forward as they rebuild their lives,” added Maurice.

Century provided acquisition financing to help Domus secure the land and pursue additional soft funding sources and tax credit equity. “Century’s flexibility gave the projects breathing room in a competitive funding environment,” Maurice noted.

Josh Hamilton, Century’s Senior Vice President of Lending, shared: “Domus consistently takes on projects with a strong sense of purpose. Their vision, combined with a deep understanding of community needs, makes them an ideal partner for mission-driven lenders like Century.”

Harmony Senior Apartments – North Hollywood, CA

In North Hollywood, Domus is bringing 84 new affordable homes to life at Harmony Senior Apartments, including 21 units designated for seniors experiencing homelessness. Located near transit, parks, and other amenities, the development will provide urgently needed housing for low-income seniors in Los Angeles.

Domus needed to move quickly to secure the vacant, blighted site. The construction loan was still months from closing, but the acquisition deadline couldn’t wait.

“Century provided a better, more cost-efficient path with a large acquisition loan than having to renegotiate the purchase price with the seller,” said Maurice. “Century provided an incredibly quick turnaround on the loan approval and closing—less than a month.”

“Harmony is a great example of how creative financing can keep momentum going on much-needed affordable housing,” said Karen Davis, Vice President, Loan Officer at Century Housing. “Domus had a clear vision, and we were glad to step in at a critical moment to help move it forward.”

A Shared Commitment

From Northern California communities recovering from disaster to affordable housing opportunities in Los Angeles, Domus Development is creating homes that help people regain stability and move forward. Century is proud to be part of that work—offering flexible, reliable financing that helps visionary projects get off the ground.

If you’re a developer looking to bring your affordable housing project to life, explore our lending solutions at century.org/financing.