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Century Housing Corporation is a nonprofit Community Development Financial Institution financing affordable housing development throughout California. Century Villages at Cabrillo, Inc. and Century Affordable Development, Inc. are independent nonprofit entities affiliated with Century Housing Corporation.
Century Affordable Development, Inc. Awarded $7.8 Million Grant
/in awards, housing policyWe are proud to announce the Community Development Financial Institutions Fund (CDFI Fund) has awarded a $7,803,750 grant to Century Affordable Development, Inc. (CADI) through its Capital Magnet Fund. CADI is one of 52 organizations receiving $321.2 million via the Capital Magnet Fund. The award will help CADI pursue its important work creating and preserving affordable […]
Executive Leadership Changes at Century Villages
/in generalToday we are writing to share important news regarding Century Villages at Cabrillo’s leadership. After 20 years of dedicated service to Century Housing, including 10 years as executive director of the Villages, Steve Colman has announced his retirement. Steve’s vision, passion, and collaborative spirit have been instrumental in shaping the Villages into the transformative community […]
CADI Celebrates Groundbreaking of Villa Vanowen
/in event, groundbreaking, homelessness, press releaseThis week, Century Affordable Development, Inc. broke ground on Villa Vanowen, a 64-unit, supportive housing development in Van Nuys that will provide affordable homes for unhoused individuals. The People Concern will provide on-site supportive services for the residents. “We are excited to bring these homes to the San Fernando Valley, an area in critical need […]
Century and Partners Break Ground on Supportive Homes for Veterans
/in event, groundbreaking, homelessness, veteransCentury Housing celebrated the groundbreaking of several new residences on the West Los Angeles VA North Campus on June 27th, alongside our partners in The Veterans Collective (Thomas Safran & Associates and U.S.VETS), The Core Companies, and the U.S. Department of Veterans Affairs Greater Los Angeles. These communities will provide 374 permanent supportive homes for […]
Century Housing Issuer Credit Rating Raised to ‘AA’ by S&P Global Ratings; Outlook Stable
/in general, investing, sustainable impacts notesS&P Global Ratings announced it has upgraded Century Housing’s issuer credit rating to ‘AA,’ from ‘AA-’. This makes Century currently the highest-rated Community Development Financial Institution (CDFI) rated by S&P Global. “We are gratified that S&P Global Ratings recognizes Century’s creditworthiness as a CDFI, which allows us to pursue innovative financial solutions to the housing […]
Community Fund Impacts
/in 2022 annual report, generalThe Century Community Fund (CCF) expands our mission to advance equitable housing and community development. Through impact-driven investments and grants, we aim to address the barriers to housing, employment, and other opportunities for stability that residents disproportionately face in low-wealth communities.
Residents Find Dignity and Hope
/in 2022 annual report, generalResidents Find Dignity and Hope: Joseph – Stability and Peace After Years of Experiencing Homelessness; Christina – A Place to Call Home for Single Mother and Children
Lending Highlights
/in 2022 annual report, generalLending Highlights: National CORE Names Century Corporate Partner of the Year; Emerging Developers Program & Commercial Paper Program; Preventing Displacement in the Bay Area with Eden Housing
In a First for a CDFI, Century Housing Launches Commercial Paper Program
/in investing, sustainability, sustainable impacts notesSustainability-labeled commercial paper program designed by U.S. Bank will help fund affordable housing developments in California MINNEAPOLIS (December 20, 2022) – Century Housing Corporation and U.S. Bank announced today that they have utilized an innovative capital markets solution to help fund Century’s affordable housing development projects. Century’s new sustainability-labeled commercial paper program provides the organization […]
Century Housing Reaches $100 Million Milestone in Distribution of Century Sustainable Impact Notes Targeting Affordable Housing Development
/in investing, sustainable impacts notesImpact Investments Promote Sustainable and Energy Efficient Building Practices Century Housing has achieved a significant impact investing milestone by issuing more than $100 million of Century Sustainable Impact Notes (“Notes”), the net proceeds of which refinance existing indebtedness and finance affordable housing developed with energy efficient features, sustainably sourced materials, and in close proximity to […]
Century Emerging Developers Program Helps Minority-Owned Businesses
/in acquisition loan, emerging developer, loan closing, new programs, preservation, seniorsCentury 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 […]
Happy 25th to Century Villages at Cabrillo!
/in awards, community support, eventEarlier this month, we celebrated the 25th Anniversary of Century’s stewardship of the Villages at Cabrillo at the Aquarium of the Pacific in Long Beach. More than 200 guests joined us representing our myriad stakeholders that have contributed to the creation of this special community over the years. A community premised on housing and serving […]
Mayor Eric Garcetti joins CADI for The Banning Groundbreaking
/in generalThe Banning, our first HHH development in the City of Los Angeles and a proud moment for Century, broke ground yesterday. For those that weren’t able to join us, it was a spectacular event that featured our Mayor, Eric Garcetti, State Senator Steven Bradford, Assemblymember Mike Gipson, our Board Chair Yvonne Burke and others. It […]
First State of California CDFI Fund Approved
/in general, housing policyRecently, Governor Newsom signed the 2022-23 CA state budget, which includes authorization of $50M to establish the California Investment and Innovation Fund, a state-level Community Development Financial Institution (CDFI) fund. This is a great moment for CDFIs and the communities they serve. This investment will strengthen and further support the work of CDFIs that are actively engaged in […]
Hiding In Plain Site
/in affordable 2022, generalFrom the Lending Group: In early 2021, a client new to Century, HIP Housing, approached us about helping preserve 14 apartments with reasonable rents in the Bay Area city of Menlo Park. The project on Coleman Place looked like an unsuspecting site for affordable housing innovation, but within the compact 1950s buildings lay an economic conundrum being confronted around the state. With new affordable housing ever more expensive to produce, what can be done to preserve existing affordable housing stock at lower total cost?
Constructing Gina
/in affordable 2022, generalFrom the Lending Group: According to the Bureau of Labor Statistics, 91% of the construction industry is composed of men. Following trends in the financial and tech industries, women, and especially minority women, are entering this space at an accelerated rate and bringing a new energy to a field that will need more creativity and more entrepreneurial spirit to keep up with demand.
Rampart’s First Gleaming
/in affordable 2022, generalFrom the Lending Group: Century Housing provided patient early stage financing for Enlightenment Plaza, an affordable housing project planned for Rampart Village. This Los Angeles neighborhood with a reputation for unchecked blight and drug activity, will be reimagined by Flexible Housing Solutions and The Pacific Companies into a 454 unit campus composed entirely of permanent supportive housing for individuals transitioning from homelessness.
VA Development Update
/in affordable 2022, generalFrom the Housing Group: Veteran homelessness is a stain on the American Flag and Los Angeles is its epicenter. In the latest survey, there were nearly 4,000 Veterans and many more family members homeless on the streets of Los Angeles on any given night. Since 2018, Century Housing and its partners at The Veterans Collective have been planning and developing a large-scale solution on the historic grounds of the West Los Angeles VA Campus on approximately 70 acres north of Wilshire Boulevard.
Stacked Good
/in affordable 2022, generalFrom the Finance Group: With your support, Century Housing has grown into one of the largest originators of acquisition loans serving affordable housing in California. This early-stage financing clears a big predevelopment hurdle and, in conjunction with other Century loan products, allows more than 4,500 safe and affordable apartment homes to proceed with development every year.
The Veterans Collective Is Seeking Vital Funding for the West LA VA Campus
/in community support, homelessness, veteransCentury Housing is a proud partner of The Veterans Collective. Alongside Thomas Safran & Associates and U.S.VETS, we are working hard to transform the West Los Angeles VA North Campus into the largest supportive housing community in the United States for homeless and at-risk Veterans and their families. The Veterans Collective last week launched a […]
New York Life Commits $50 Million in Long-Term Capital to Century
/in community support, general, investingNew York Life, America’s largest and most admired mutual life insurer, announced a commitment of $50 million in long-term capital to Century Housing. Century serves as a vital capital provider in low-income communities across California and is dedicated to delivering responsible and affordable lending to mission-aligned customers. Century has invested more than $2.3 billion in […]
Century Acquires CityView project, Preserves 296 Affordable Homes for Seniors
/in preservation, seniorsCentury is pleased to announce the $66.5 million acquisition of CityView apartments, a 296-unit multifamily senior housing community located on a 2.58-acre site in the Wrigley area of Long Beach, California. Homes at the community serve senior households earning at or below 60% of Area Median Income (AMI). Renovated in 2015, City View includes upgrades […]
Century Housing Announces The Century California Fund Investment Initiative
/in community support, general, investing, new programsCentury Housing announces the Century California Fund (CCF) investment initiative to help close the gap in economic and social disparities in California. Since its founding, Century has been focused on enhancing opportunities in the communities it serves. Consistent with its mission, Century is making a further investment in underserved communities, specifically communities of Black, Indigenous […]
Thank you, Wells Fargo, for $125k award!
/in awards, generalCentury headed into the summer with the renewed support of one of our longest and strongest financial partners: Wells Fargo! A $125,000 award will support ongoing efforts to preserve and build affordable housing at three Century developments: the Villages at Cabrillo (CVC, Long Beach), One San Pedro (OSP, San Pedro), and the West LA VA […]