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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.
Los Angeles County’s new and improved Housing Innovation Fund
/in acquisition loan, new programsWe 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 […]
Remember to VOTE YES on 41
/in generalThe June 3rd primary election is almost here, and there’s a great reason to make it out to the polls: Proposition 41, The Veterans Housing & Homeless Prevention Act. More than 200,000 California veterans live in poverty, but the existing bond program previously approved by voters to help house our veterans is no longer effective […]
Year-End Numbers Show Growth and Impact of GSAF Program
/in generalCentury loan origination totals from 2013 show a considerable increase from the previous year, totaling over $99M. Demand for bridge loans rose to more than $53M, followed by construction and acquisition loans. Upon completion, Century developments financed in 2013 will contribute 1,948 new homes to California’s affordable housing stock. Much of our growth can be […]
Happy Holidays and All the Best from Century!
/in generalThank you for making 2013 a great year for Century and for hundreds of low-income families and individuals who will have a place to call home as a result of our work. Century financing in 2013 has laid the foundation for nearly 2,000 affordable homes, and will create more than 1,500 FTE construction jobs. And […]
Southern California’s Biggest Show Is Almost Here
/in event, general, housing policySouthern California’s “can’t miss” affordable housing event is just around the corner. SCANPH will host its 25th Annual Conference on Friday, November 1st at the JW Marriott Hotel in Downtown LA, and it’s not too late to register and take part in the most dynamic affordable housing events around. This year Century is sponsoring, exhibiting, […]
Lending Matters in October
/in acquisition loan, construction loan, loan closing, predevelopment loanCentury 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 […]
Aaron Wooler Can’t Stop Talking About The GSAF
/in acquisition loan, new programsYou 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 […]
Lending Matters in August
/in acquisition loan, loan closingLast 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
/in acquisition loan, construction loan, families, general, grand openingResidents 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
/in generalExactly 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
/in generalWe 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
/in generalLending 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
/in generalLast 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
/in generalLook 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
/in acquisition loanMeta 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
/in acquisition loan, construction loan, general, grand opening, loan closingOn 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
/in market conditions, new programsOur 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
/in acquisition loan, grand opening, seniorsLos 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
/in acquisition loan, construction loan, families, loan closingCentury 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
/in housing policy, new programsCentury 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 […]
ALA’s Janet L. Witkins Center Breaks Ground
/in acquisition loan, elements of design, groundbreaking, predevelopment loan, seniorsLos 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 […]
Menlo Family Apartments Opens in Central LA
/in acquisition loan, families, grand opening, predevelopment loanLittle 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 […]
LA County Supervisors Approve $15 Million for Affordable Housing
/in community support, housing policy, redevelopmentThe preservation and creation of affordable housing has been a longstanding goal of both Los Angeles County and many of its 88 cities, but the demise of redevelopment agencies delivered a blow to low-income residents struggling in one of the nation’s most difficult housing markets. On March 5, 2013, acting on a joint motion by […]
More Housing Options Coming to Panorama City
/in construction loan, families, loan closingLast 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 […]