Century Housing Corporation

FHLBank San Francisco Awards Over $26 Million in Grants to Wide Array of California-Based Affordable Housing Groups

Retrieved on: 
Tuesday, July 11, 2023
National Low Income Housing Coalition, Citizens Business Bank, Woodlands, Total, Partnership, Housing, Century Housing Corporation, Homelessness, Disability, AHP, Rehabilitation, Veteran, Federal Home Loan Banks, Hope, City National Bank, Community development, National Community Renaissance, Substance abuse, Property management, Renewable energy

SAN FRANCISCO, July 11, 2023 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today announced it awarded over $26 million in Affordable Housing Program (AHP) grants to fund 30 projects that will create 2,420 units of affordable housing in California. FHLBank San Francisco is the largest privately-owned source of affordable housing funding within its region - comprising California, Arizona, and Nevada - and collectively with the other Federal Home Loan Banks, one of the largest privately-owned grantors in the country.

Key Points: 
  • Providing resources for affordable housing is a core element of FHLBank San Francisco’s mission, with a firm commitment to deploy at least 10% – and up to 15% – of its net profits from the prior year to fund affordable housing and related community investment programs.
  • Grants are delivered through FHLBank San Francisco member institutions partnering with nonprofits and affordable housing developers to submit applications for grants for specific projects in an annual funding competition.
  • In total for the 2023 program cycle, the Bank’s AHP awarded $32.9 million in funding for 38 affordable housing projects in California, Arizona, and Nevada.
  • Since 1990, we have contributed over $1.14 billion in AHP General Fund and Nevada Targeted Fund grants to support 141,000 units of affordable housing.

In a First for a CDFI, Century Housing Launches Commercial Paper Program

Retrieved on: 
Wednesday, January 4, 2023
Other Philanthropy, Construction & Property, Finance, Banking, Professional Services, Philanthropy, Other Construction & Property, Residential Building & Real Estate, Community development financial institution, Century Housing Corporation, Century, S&P Global, ICMA, A1, Workforce, F1, Multimedia, Community development, Housing Corporation, Fitch, CDFI, Rehabilitation, Housing, Renewable energy, Management, U.S. Bancorp

View the full release here: https://www.businesswire.com/news/home/20221220005246/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20221220005246/en/
    Century’s new sustainability-labeled commercial paper program provides the organization with affordable short-term funding, while also enabling investors to invest directly in securities that finance energy-efficient, affordable housing developments across California.
  • While commercial paper programs are a common mechanism for large businesses to fund operations, this is the first introduced by a Community Development Financial Institution (CDFI).
  • “Century is driven by its mission to meaningfully increase the supply of truly affordable housing in the communities it serves,” said Alan Hoffman, Chief Financial Officer of Century Housing.
  • USBCDC and U.S. Bank’s capital markets division – a top commercial paper dealer – worked together to design this commercial paper program and bring it to market.

CENTURY CALIFORNIA FUND TO FINANCE PCR BUSINESS FINANCE'S SMALL BUSINESS PROGRAM

Retrieved on: 
Friday, October 28, 2022
Acquisition, Community development financial institution, CDFI, Color, Florida Small Business Development Center Network, BIF, SBA, Senior, Small business, CCF, Quality of life, Community development, Century Housing Corporation, Century, Small Business Administration, LLC, PCR, Solution, Partnership, Office of the Supervising Architect for the U.S. Treasury, Bank, Management, Financial services

CULVER CITY, Calif., Oct. 27, 2022 /PRNewswire/ -- The Century California Fund (CCF), an entity controlled by Century Housing (Century) announced today an infusion of capital into a partnership with PCR Business Finance (PCR), which will support PCR's 45-year history of small business and micro lending to underserved communities. Lack of access to capital is a well-documented challenge facing minority borrowers. CCF's new small and micro lending partnership program with PCR will help fill an essential gap in the market.

Key Points: 
  • CULVER CITY, Calif., Oct. 27, 2022 /PRNewswire/ -- The Century California Fund (CCF), an entity controlled by Century Housing (Century) announced today an infusion of capital into a partnership with PCR Business Finance (PCR), which will support PCR's 45-year history of small business and micro lendingto underserved communities.
  • Century California Fund, LLC is an entity 100% controlled by Century Housing created to engage in support and development activities in the communities in which Century Housing operates.
  • Further, PCR provides small business educational services through its designation by U.S. Small Business Administration (SBA), as a Small Business Development Center (SBDC).
  • Finally, and in addition to its small business lending and educational services, PCR administers the pilot Metro Business Interruption Fund (BIF), which provides grants of up to $50,000 per impact year to eligible small businesses.

Century Housing Expands The Century Villages at Cabrillo with The Cove, 90 New Supportive Apartment Homes for Veterans and Families in Long Beach

Retrieved on: 
Wednesday, August 17, 2022
Woman, Social conditions in Honduras, CVC, Community development financial institution, Housing Authority of the City of Milwaukee, Senior, Century Housing Corporation, No Place Like Home, Community development, LACDA, County, Veteran, Century, Case management, PSH, Housing, Century Village, Florida, Acquisition, CDFI, Partnership, Wells Fargo, Heart, Cabrillo, Village, Real estate, Ohio Seventh District Court of Appeals, Cove, Long Beach Veteran, City

CULVER CITY, Calif., Aug. 17, 2022 /PRNewswire/ -- Century Housing (Century) celebrated the groundbreaking of The Cove, an all-new permanent supportive housing (PSH) development and newest addition to The Century Villages at Cabrillo (CVC), a 27-acre affordable and service-enriched community in Long Beach. The expansion will provide 60 affordable homes for Veterans experiencing homeless and 29 affordable homes for low income Veterans for a total of 90 homes, together with supportive services available to all Veteran residents.

Key Points: 
  • Long Beach Mayor Robert Garcia and Councilmember Roberto Uranga joined developer Century Affordable Development, Inc. (CADI) to celebrate the positive impact The Cove will have for Long Beach Veterans.
  • "This development reflects the City's commitment to building quality, affordable housing in Long Beach," said Mayor Robert Garcia.
  • "We are incredibly grateful to Century Housing and all of our partners for their investment in safe, secure housing and critical services for our Veterans."
  • Century is incredibly proud to bring these beautiful homes to Veterans in need," said Brian D'Andrea, Senior Vice President of Century Housing.

Century Housing Supports Minority and Women Owned Affordable Housing Developers with New Special Purpose Credit Program

Retrieved on: 
Wednesday, August 3, 2022
Community development, Organization, AA, CFO, Construction, SPCP, Community development bank, Woman, Century Housing Corporation, Education, Small business, Chase, Social support, Housing, Binary relation, Program, Venice, CDFI, Venice Community Housing Corporation, S&P, K Line (Los Angeles Metro), CCF, Community development financial institution, Income, Metro, Fitch, Century, New Markets Tax Credit Program, Partnership, Acquisition, Black and Brown!, Renewable energy, Real estate, Bank

CULVER CITY, Calif., Aug. 3, 2022 /PRNewswire/ -- Century Housing is proud to announce the launch of the Century Emerging Developers Program, a Special Purpose Credit Program (SPCP) specifically targeting minority and women owned developers and preservers of affordable housing. This program will initially be funded by a dedicated credit facility provided by Chase in the amount of $15 million. Through this program, Century Housing will provide financing to minority and women owned developers who, because of organizational size, lack of capitalization or limited track records, have not had access to financing or to financing on the same terms as larger, more established developers.

Key Points: 
  • CULVER CITY, Calif., Aug. 3, 2022 /PRNewswire/ -- Century Housing is proud to announce the launch of the Century Emerging Developers Program, a Special Purpose Credit Program (SPCP) specifically targeting minority and women owned developers and preservers of affordable housing.
  • Century Housing provided early stage financing for what will eventually become a 61-unit affordable housing property across the street from a new metro station along the Crenshaw Line.
  • Net proceeds generated by the SPCP will be contributed by Century Housing to the Century California Fund (CCF).
  • For information on how to invest in Century Housing and its mission please visit the Invest page on our website: century.org/invest/
    For further information on Century Housing's Special Purpose Credit Program for minority and women owned affordable housing developers, please contact:

Century Housing Breaks Ground on The Banning, 64 Supportive Apartment Homes for People Experiencing Homelessness in Wilmington

Retrieved on: 
Tuesday, July 26, 2022
Acquisition, HHH, Banning House, LA, Home, Community, Community development, Housing, Private sector, Federal Home Loan Banks, Banning, Solution, Century Housing Corporation, City, PSH, County, Harbor, Compliance, CDFI, Senior, Blight, Century, Homelessness, Hope, AHP, Community development financial institution, Wells Fargo, SPA, Bradgate House (19th century), Citigroup, Development management in the United Kingdom, Hotel, Citibank

CULVER CITY, Calif., July 26, 2022 /PRNewswire/ -- Century Housing (Century) joined LA Mayor Eric Garcetti to celebrate the groundbreaking of The Banning, an all-new permanent supportive housing (PSH) development coming to the Los Angeles Harbor region neighborhood of Wilmington to provide 64 affordable homes for small families and individuals experiencing homelessness.

Key Points: 
  • Developer Century Affordable Development, Inc. (CADI) thanked financial partners including the City of Los Angeles which contributed Measure HHH funding.
  • LA Councilman Joe Buscaino remarked, "Solving homelessness requires a comprehensive housing system that meets unhoused residents at all levels of their journey.
  • I am happy to know that 64 people will be housed and supported through The Banning development here in Wilmington.
  • Every time our communities say yes to housing solutions, we move one step closer to solving the homelessness crisis."

The Veterans Collective Announces $188 Million ‘Veterans Promise Campaign’ and Historic Gift for Veteran Housing on the West Los Angeles VA North Campus

Retrieved on: 
Thursday, May 26, 2022
CEO, Hudson Pacific Properties, Federal, Town Center, FDNY, Housing, Ohio Department of Veterans Services, Century Housing Corporation, Wadsworth Chapel, Foundation, Investment, Wellness, Wadsworth, State, Transport, History, Rea and Lillian Steele North Campus, City, NBCUniversal, Partnership, Time, Federation, City National Bank of Florida, TVC, SVP, Town Center, Columbia, Maryland, United Talent Agency, Mercury, GLOBE, USMC, Financial endowment, Real estate, Management, Veteran, Tunnel

To raise the funds necessary to restore the land and our promise to Americas Veterans, The Veterans Collective is proud to launch the Veterans Promise Campaign, with a significant leadership gift from nonprofit Tunnel to Towers Foundation to U.S.VETS for the development of housing on the West LA VA Campus.

Key Points: 
  • To raise the funds necessary to restore the land and our promise to Americas Veterans, The Veterans Collective is proud to launch the Veterans Promise Campaign, with a significant leadership gift from nonprofit Tunnel to Towers Foundation to U.S.VETS for the development of housing on the West LA VA Campus.
  • The meaningful donation from the Tunnel to Towers Foundation will close the Veteran Housing Fund and ensure the successful development of more than 500 housing units.
  • We are very pleased that our groundwork fundraising has enabled The Veterans Collective to complete the important pre-development for housing and service buildings.
  • Veterans Promise Campaign funding opportunities still available include:
    Wadsworth Chapel & Historical Fund: supports the preservation, restoration and adaptive re-use of historic buildings and art installations on campus.

Former Alabama Securities Commission Chair Files Suit Against Samford University on Behalf of House Corporation Over Alleged Fraternity House Takeover

Retrieved on: 
Tuesday, April 5, 2022
GLOBE, House, Century Housing Corporation, Cumberland School of Law, Samford University, Cumberland School, Online gambling

"Our position is that the property never belonged to the university and still doesn't," said Hart, who filed the 24-page complaint on behalf of the "House Corporation" -- a non-profit organization founded in 1964 by seven alumni, including Frank Donaldson, Professor of Law at Samford's Cumberland School of Law, to build and manage the fraternity house. "We're suing to recover our property or its fair value."

Key Points: 
  • BIRMINGHAM, Ala., April 05, 2022 (GLOBE NEWSWIRE) -- Two-term Alabama Securities Commission Chair James L. Hart, a decorated Samford alumnus, recently filed suit against Samford University over what Hart alleges was the takeover of a landmark fraternity house located on a desirable track of landbordered by Saulter Road with no notice some years ago.
  • "From the day the house opened in 1971, it was always independently owned and operated by the House Corporation,"alleges Hart, who served on its governing board.
  • According to Hart, the House Corporation went to considerable expense to ensure that the Williamsburg-style fraternity house was architecturally in keeping with Samford's original master plan.
  • For complete information, media inquiries and interviews, contact James L. Hart at [email protected] or call 1-205-910-0451.

Aeris Announces 33 New CDFI Ratings and 5 New Subscribers

Retrieved on: 
Monday, March 14, 2022
Government, CDFI, COVID, Capital One, Common Good, Chicago Community Loan Fund, Housing, Database, Investment, Century Housing Corporation, MD, Sustainability, Exploration, Federal Home Loan Banks, Education, NE, Health, Supportive housing, Solution, Weather, Genesis, COVID-19, Housing Corporation, Bank, Financial services, Mining, Inclusivism, Aeris

In addition, four rated CDFIsSelf-Help Ventures Fund, Partner Community Capital, Inclusiv, and Genesis LAeach received a new, standalone Aeris Impact Management Rating Report, which assesses and reports how a CDFI measures and manages impact.

Key Points: 
  • In addition, four rated CDFIsSelf-Help Ventures Fund, Partner Community Capital, Inclusiv, and Genesis LAeach received a new, standalone Aeris Impact Management Rating Report, which assesses and reports how a CDFI measures and manages impact.
  • Also today, Aeris announced five new subscribers to its information products.
  • In addition to the in-depth analyses found in Aeris Rating Reports, Aeris subscribers utilize Aeris Performance Maps and Aeris Explorer, which track quarterly financial performance of rated and reporting CDFIs.
  • Since 2004, Aeris Ratings, analyses, and data have grown to cover more than 150 CDFIs managing more than $19 billion in loan capital.

Affordable housing for at risk Seniors in the County of Los Angeles breaks ground

Retrieved on: 
Monday, January 24, 2022
People, Income, County, Century Housing Corporation, National People's Concern Party, Adult, Summer, Housing, Creativity, Veteran, Health, LACDA, Marketing, Education, Capital One, Architecture, Los Angeles County, California, Engineering, Senior, Organization, Homelessness, Furniture

LOS ANGELES, Jan. 24, 2022 /PRNewswire-PRWeb/ --Affirmed Housing, a leading provider of affordable housing throughout California, announces the groundbreaking of The Remi; a six-story development offering 92 studio and one bedroom apartment homes for low income and formerly homeless seniors in Los Angeles County.

Key Points: 
  • LOS ANGELES, Jan. 24, 2022 /PRNewswire-PRWeb/ --Affirmed Housing, a leading provider of affordable housing throughout California, announces the groundbreaking of The Remi; a six-story development offering 92 studio and one bedroom apartment homes for low income and formerly homeless seniors in Los Angeles County.
  • "The Remi marks Affirmed's 10th affordable housing development in the County of Los Angeles.
  • Currently a vacant, underutilized property, the Remi is located in a central location and will offer much needed affordable housing for Seniors living in the county of Los Angeles.
  • Affirmed Housing is a leader in affordable, multifamily housing development, delivering safe, sustainable, high-quality communities for families, veterans, seniors and people experiencing homelessness.