Dear Friend,

It’s an exciting time of year for the Century lending team! Last week, we celebrated the grand re-opening of Sunny Garden Apartments with our longtime financing partner, Alliance Property Group. APG renovated the complex to ensure rents would remain affordable for seniors who earn 30-60% of the area median income. The project was particularly challenging due to the pandemic. Tracey Burns, Century Vice President of Construction Lending, spoke at the event and shared our team’s excitement. We are very proud to have helped preserve 95 affordable homes for low-income seniors in La Puente. Kudos to APG!

Want to discuss your latest project? Please email us to start the conversation. We look forward to hearing from you!

With gratitude,

The Century Lending Team

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Civic Center Drive in Santa Clara

Through Housing Trust Silicon Valley, Century gave Charities Housing an acquisition loan for an affordable housing development in Santa Clara. Charities Housing plans to build 108 apartments that will be 100% affordable. The Santa Clara City Council recently approved construction of the property on the current site of a vacant office building.

Romaine Gardens in Hollywood

Century recently provided Neo Investment Group with construction financing for a new 15-unit multi-family development. This infill project will provide apartments affordable to households in the “missing middle.”

We are excited to welcome Karen Davis to the lending team as Vice President, Loan Officer. She works with developers primarily on Southern California-based projects. Mrs. Davis comes to Century with 20 years of experience in affordable housing, having previously worked at Bank of America, First Citizens Bank, and Abode Communities. She also serves as a mentor to the Merritt Scholars program and a board member at Heritage Housing in Pasadena, an affordable housing developer of for-sale homes. Email Ms. Davis about your next project.

We are excited to announce that the U.S. Department of the Treasury's CDFI Fund awarded Century with a $4.9 million grant through its CDFI Equitable Recovery Program. The funds will ensure Century can address the impacts of increased housing instability and decreased housing availability for low-income individuals and families—especially in neighborhoods most impacted by the pandemic. Learn more.

Elk Grove Lawsuit

The California Attorney General’s Office is suing the City of Elk Grove over its rejection of the Oak Rose affordable housing project. Century stands with our client Excelerate Housing Group, the developer of Oak Rose.

Get the latest on the lawsuit.