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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 Celebrates Legislative Win for West Los Angeles VA Campus
/in homelessness, housing policy, veteransCentury, as a proud member of the West LA Veterans Collective, joined Senator Dianne Feinstein and Congressman Ted Lieu (both D-California) in applauding President Joe Biden for signing the West Los Angeles VA Campus Improvement Act into law Wednesday. Both the Senator and the Congressman are long-time supporters of the West LA VA Campus and […]
Century Celebrates The Beacon
/in generalCentury Housing, in partnership with the City of Long Beach and The Long Beach Community Investment Company, invited the public to celebrate the completion of The Beacon last week with a virtual event featuring a video presentation acknowledging the many partners and agencies that made the development a success. Home to more than 200 veterans […]
Century Makes 2021 Best Nonprofits to Work For List
/in awardsWe are honored that, once again, Century made the 2021 Best NonProfits to Work For list! The list is published annually by The NonProfit Times, the leading national business publication for nonprofit management. Participating nonprofits were vetted via a host of surveys, including employees, managers and outside vendors. In this national competition, Century was ranked Number 10 among its peer medium organizations and Number 21 among all nonprofit organizations. Century […]
Pandemic Puts Homeownership in African American Communities at Risk
/in community support, covid, families, housing policy, landlord/tenant, market conditionsIn the post-COVID-19 era, African American homeownership in Los Angeles County is predicted to reach an even more concerning level. During the 2007 recession, foreclosure rates among African American homeowners were three times that of non-Hispanic Whites. According to the recent UCLA Center for Neighborhood Knowledge’s Saving Black Homeownership report, the significant homeownership gap between […]
Century Housing Municipal Bond Awarded Sustainability Bond of the Year
/in awards, investing, market conditions, sustainabilityCentury Housing’s 2020 Sustainability Bond, which raised $85 million to directly support quality affordable housing throughout California, today received the Sustainability Bond of the Year Award from Environmental Finance in the US muni bond category. These Awards seek to recognize those bonds that excel, innovate in and contribute to the successful development of the market […]
Century Launches Note Program To Fund Affordable Housing
/in investing, sustainability, sustainable impacts notesInvestors are offered an investment-grade opportunity to support Century’s efforts to address social inequalities associated with housing shortages worsened by the COVID pandemic Culver City, CA (February 1, 2021) — Century Housing, a nonprofit Community Development Financial Institution (CDFI) dedicated to creating quality affordable housing throughout California, today announced the launch of an offering of […]
Looking Back on 2020
/in acquisition loan, awards, community support, construction loan, covid, event, families, groundbreaking, loan closing, seniors, sustainability, veteransAs 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 […]
Developers Respond to Prolonged Pandemic
/in covidCentury provided financing to Jamboree Housing for the acquisition of a motel in Buena Park that will be converted into permanent supportive housing using 9% LIHTC. The motel was long past its useful life, and Jamboree will complete needed upgrades to the units to help transition individuals from homelessness to housing. Upon completion, Jamboree will add […]
The Beacon Honored with SCANPH’s Award for Overall Excellence
/in awards, elements of design, event, homelessness, seniors, transit-oriented, veteransWe are proud to share that our Long Beach development, The Beacon, was awarded Multi-Family Development of the Year by SCANPH at the Annual Conference’s Homes Within Reach Awards Ceremony. The award recognizes excellence in affordable housing among projects completed in the last year. Selections are submitted by SCANPH members and chosen by an […]
The Beacon Shines With PCBC Gold Nugget Grand Award
/in awards, elements of design, seniorsCentury’s commitment to exceptionally-designed affordable housing was recognized with a PCBC Gold Nugget Grand Award for Best Affordable Senior Housing Community presented to our Long Beach development, The Beacon. The seven-story, 121-unit building, centrally located near public transit and serving as a physical gateway to Downtown Long Beach, overcame a series of funding and approval […]
Fitch Assigns ‘AA’ Rating to Century
/in generalCentury Housing announced that it has been assigned a ‘AA’ Rating with a stable outlook by Fitch Ratings, one of the major nationally recognized financial rating organization. Fitch also assigned a AA rating with stable outlook to Century’s recent municipal bond offering, the first municipal bond offered by a Community Development Financial Institution, which raised […]
Century Housing Announces Bond Offering of up to $100 million to Fund Affordable Housing Development
/in market conditions, new programsCentury Housing will issue up to $100 million in ESG municipal CUSIP bonds to advance their mission throughout the state of California, becoming the first CDFI to come to market with a municipal bond CUSIP and the first CDFI to be rated by both Fitch and S&P (AA and AA-, respectively). The third-party opinion by […]
Century Wins LABBC 2020 Innovation Award!
/in awards, elements of designWe are proud to announce that Los Angeles Better Building Challenge has honored Century Housing with the 2020 Innovation Award: Affordable Multifamily Performance Project of the Year for the efficiency standards reached at two Century-developed affordable communities: Florence Avenue Villas and Morehouse. Century’s rehabilitation work resulted in a 54% energy reduction at Florence, and 40% […]
Our Mission Continues
/in generalDear Clients, Partners, and Colleagues, I hope you are staying safe and sound while we work collectively to minimize the impact of COVID-19. Here at Century, we remain focused on our mission as we follow CDC guidelines by avoiding in-person meetings and unnecessary travel. We have been successful in setting up our remote office network […]
2019 Was Our Best Year Ever!
/in generalWe don’t want to sound like a broken record, but the record has been broken yet again! Century financed 4,274 affordable and workforce homes in 2019, a near 200 home increase from the previous year, which was also a record high. On average, these homes will be available to individuals and families earning 46.22% of […]
Century Leads AHP Sponsorship in California
/in generalCentury sponsored eight successful applications for Affordable Housing Program (AHP) grants in FHLBank San Francisco’s 2019 funding competition. The eight sponsored projects were awarded a total of $6,730,000 in subsidies this year, making Century the second highest-ranking member participating in the competition, and the most active AHP application sponsor in California. The AHP grants will […]
Century Treats Clients To Evening at Hotel Figueroa
/in eventLast Thursday, Century held its annual Client Appreciation event at the newly-renovated Hotel Figueroa in Downtown Los Angeles. The iconic hotel’s new 14-story floral mural served as the backdrop to some of California’s most prolific affordable housing developers comparing notes and building out their social network. Josh Hamilton, Century’s Senior Vice President of Lending, thanked […]
Oakland homes for families and Veterans
/in acquisition loan, construction loan500 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% […]
Recent impact in Los Angeles and San Diego
/in generalCalvert Apartments (pictured): The San Fernando neighborhood of Van Nuys will gain 19 workforce homes thanks in part to a Century construction loan. The property is located in a low-income census tract within walking distance of several office parks, retail options and the 2000-acre Sepulveda Basin Recreation Area. The three story building with a 35 […]
Preservation Critical to Maintaining Affordable Housing Stock
/in general, preservationPreserving existing affordable housing is as important as creating new affordable housing. Each year, even as demand increase, the United States loses more than half a million affordable homes due to expiring affordability restrictions, conversion to more expensive housing, or building deterioration.1 Without intervention, we are in danger of permanently losing the current supply of […]
Century Impacts Throughout California
/in generalRamona Senior Apartments (pictured above): Chelsea Investment Corporation received acquisition and predevelopment financing to develop 62 new homes for low-income seniors, 20 of which will target seniors transitioning from homelessness. The development was awarded with 9% LIHTC financing as well as AHP and HOME funds and will feature a mix of 50 one-bedroom and 11 […]
California Developers’ Conference
/in event, housing policy, market conditionsThe 2018 Annual California Developer’s Conference, co-hosted by Century, brought together affordable housing developers, lenders, and investors to share insights, connections, and hors d’oeuvres at the Beverly Hills Hotel. Panels covered federal, state, and local issues and developer concerns in a post-tax reform world. Chris Thornberg returned as keynote speaker to paint a positive picture […]
Century Celebrates Opening of Anchor Place
/in event, grand opening, homelessnessYesterday, Century, the City of Long Beach, and dozens of partners and supporting agencies celebrated the grand opening of Anchor Place, a 120-unit affordable housing development for families and veterans experiencing homelessness. Located within the Century Villlages at Cabrillo campus owned and operated by Century, the five-story development includes 75 units reserved for veterans experiencing homelessness and 45 […]
Century Impacts in September
/in acquisition loan, construction loan, loan closing, transit-orientedMariposa 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 […]