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 […]
As we reflect back on a challenging 2020, we’d like to recount a sampling of the Century team’s proudest achievements. These accomplishments reflect the best of Century’s values, advancing our mission of making homes the cornerstone of a thriving and just society. Century celebrates 25 years of service with two $25,000 donations to charter schools […]
500 Lake Park Avenue (pictured): Nonprofit developer EAH Housing, Inc. has secured a half acre site in prime Central Oakland for the construction of 54 affordable family homes using Century acquisition financing. The affordability restrictions are weighted towards the deeply affordable with 8 units restricted to 30% of AMI and 11 units restricted to 40% […]
Mariposa Villa (pictured): $1,400,000 in acquisition financing to developer Leo Lee Family Trust will help convert a parking lot into 33 rental units. With little new construction and rehab of older residential and multi-family buildings within the immediate area, as well as easy access to public transportation, Mariposa will provide much needed workforce housing to […]
We are excited to announce that Los Angeles County has closed on LACHIF II, a high-LTV revolving fund providing acquisition and predevelopment financing to nonprofit and for-profit developers throughout the county. As an approved member, official loan originator, and the first lender to utilize the fund, Century is excited about the opportunities that LACHIF II […]
Century had a productive month, closing four loans throughout Southern California: —$1,620,000 in predevelopment financing will help build Baldwin Park Apartments, a 72-unit workforce housing project developed by ROEM Development Corporation, which will also create 84 FTE construction jobs. –Diversified Equity Group received a $8,500,000 construction loan for 61 homes in Sylmar. Construction of Villa […]
You may have caught our Senior Vice President, Aaron Wooler, at the Novogradac 20th Annual Affordable Housing Tax Credit Conference earlier this month, where he took every opportunity to praise the utility of the Golden State Acquisition Fund and share Century’s experience in leading loan originations under the valuable program. To date, Century has closed […]
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, […]
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 […]
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 […]
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 […]
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 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 […]
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 […]
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 […]
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. […]
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 […]
