Culver City Observer -

Culver Housing Company Named Top 25 Affordable Lenders

 

March 23, 2017



Century Housing Corporation of Culver City was named among the nation's Top 25 affordable housing lenders in 2016, by Affordable Housing Finance magazine for the third consecutive year. "It is a major accomplishment to be included among lending giants such as Citi Community Capital, Wells Fargo, Bank of America Merrill Lynch, and JP Morgan Chase. As the only CDFI lender on the list, our developments are targeted in both Northern and Southern California, where affordable housing demand is high and inventory is low, coupled with tremendous affordability issues", said, Ronald Griffith, President & CEO of Century Housing. According to Affordable Housing Finance's latest report, housing lenders financed a total of $27 billion in loans supporting affordable housing properties in 2016. That is an increase from the $22.9 billion in 2015 and the $18.7 billion in 2014. "Century Housing is an important partner of Skid Row Housing Trust, helping us build high quality affordable housing that ends homelessness. For many years, Century has served as our main acquisition and predevelopment lender. Some of our most successful projects may not have gotten off the ground without the early support we received from Century", said Dana Trujilo, Skid Row's Chief Investment & Finance Officer. Century is a leading Community Development Financial Institution (CDFI), delivering innovative financial products quickly and reliably to support the development of critical housing projects throughout California. Our lending activity, combined with expert service and support for our developer clients, has resulted in the development and preservation of more than 26,000 affordable homes and apartments in underserved communities throughout the state and more than $1 billion in financing for new affordable homes and apartments. http://www.centuryhousing.org

 

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