The Century Coming Home Fund is the culmination of 20 years of experience in financing veteran housing.
Century is answering the call to end veteran homelessness with a new acquisition loan product leveraging our reliable service and development know-how which has already helped finance more than 27,000 affordable homes throughout California.
Ready to tackle a service-enriched permanent affordable housing project using the HUD-VASH voucher program, the Low Income Housing Tax Credit (LIHTC), or other gap-financing sources? Start with a Century acquisition loan through the Century Coming Home Fund and get your financing quickly and reliably, just the way you need it, and in time to give California veterans a chance of finding a quality home.
Century’s first success with veteran housing started in 1992, a time when Los Angeles County had more than 20,000 homeless veterans with just 100 beds set aside for them. The Los Angeles Veteran’s Initiative, now commonly known as U.S. VETS, was eyeing a 700 student dormitory in Inglewood with the hope of converting it to homeless veteran housing with a career development center. The financing problem was solved with a novel, at the time, concept of creating a joint venture between a for-profit developer and a non-profit service provider. Century’s investment of $5,600,000 covered the major part of the acquisition, working capital, and renovation cost, and the resulting self-contained transitional housing facility, Westside Residence Hall, has served more than 4,000 veterans since 1993.
Since that time Century has invested more than $79 million in veteran housing which added 2,200 service-enriched homes targeting veterans specifically. We are especially proud of our ongoing investment in Long Beach called Century Villages at Cabrillo (CVC), a 27-acre campus housing more than 500 veterans every night. Formerly a U.S. Naval housing site, CVC has become a nationwide public-private partnership model to benefit those in need. More than 20 on-site service providers create a continuum of care covering case management, life skills training, substance abuse treatment, affordable child care, a homeless education program, an employment center, a career center, and a food service program—there is even an on-site VA medical clinic.
We hope that we can add your next project to the long list of Century financed successes in veteran housing. Please start by giving Josh a call at 310-642-2019, or by filling out a contact form.
Century has played an important role in fighting veteran homelessness for more than 20 years, and in conjunction with the federal Mayor’s Challenge, we are stepping up our efforts to end the indignity of veteran homeless in California once and for all.
Learn more about Century Acquisition Loans.