Recent impact in Los Angeles and San Diego

Calvert 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 car parking garage on ground level will feature upgraded amenities and private balconies throughout.

Arminta Apartments: The Sun Valley community in Los Angeles is getting 110 newly constructed affordable homes thanks to developer Meta Housing and acquisition financing from Century Housing through the New Generation Fund. The project has been selected for the managed pipeline and will be 100% affordable with strong support from the City. The property sits within one mile of the I5 Freeway and a large industrial district and within a short walk of a library and recreational center.

Mt. Alifan: Developer Wakeland Housing & Development has received acquisition financing to acquire land for the construction of 52 units of affordable housing in San Diego. Century used the Golden State Acquisition Fund to offer a 100% LTV acquisition loan. The subject property will provide deep affordability for seniors earning 50% of Area Median Income, or below. Residents will receive supportive services through Wakeland’s partner, PATH, who is featured in our annual report. The project will be located in the Clairemont community of Eastern San Diego, walking distance to public bus transit and extensive retail.

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