Investments creating layers of tangible social and environmental impact
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.
Century investors are participating in this success with the help of a recent expansion of impact investment offerings. Our AA stable and AA- stable ratings by Fitch and by S&P Global, respectfully, led to new opportunities for institutions and individual investors to join our mission without incurring excess risk. Century has already delivered $2 billion in affordable housing loans and now we can do more faster.
The average home created or preserved with Century’s financing is affordable to individuals and families earning approximately 50% of the area median income (AMI), with a large portion affordable to residents earning close to 30% of AMI. Low-income and unhoused workers, seniors, Veterans and families with a disabled member are given a chance at healing and economic recovery.
In addition to this social benefit, Century-financed developments are environmentally beneficial by virtue of density and responsible building practices. Approximately 14% include energy retrofits, 33% are classified as Transit-Oriented Developments reducing traffic congestion and pollution, and 66% qualifying for low-income housing tax credits which are awarded based largely on the inclusion of energy and water efficient designs. Many are also LEED certified.
For some final insights into our mission, the leading 2nd party ESG opinion provider to the affordable housing industry, Sustainalytics, has determined that Century Housing’s operations support 4 of the 17 United Nations Sustainable Development Goals. Sustainalytics also assessed the quality of Century’s management practices, highlighting multiple distinctions as one of the best nonprofits to work by The NonProfit Times. Century’s commitment to social change begins within.
Get to know more about the real climate and housing stability outcomes achieved by affordable housing and the novel ways Century is balancing its investment offerings at: century.org/invest