Century Housing Announces $2.2 Million Loan to Finance Workforce Housing for 26 Families in El Monte

Based in Culver City, Calif., Century Housing is a nonprofit affordable housing lender, which has used more than $320 million in financing to help create more than 12,000 quality ownership and rental homes, affordable to low- and moderate-income working families. Century links its affordable housing with social programs supported through The More Than Shelter Fund^® that have served more than 20,000 Southern California residents. These services include: on-site after-school academic tutoring for at-risk youth; construction job training and placement for men and women; child development centers for low-income families; transitional housing for homeless veterans; and wellness programs for seniors.

For more information on Century Housing, please visit www.centuryhousing.org.

MEDIA ADVISORY FOR IMMEDIATE RELEASE March 23, 2006
Contact:	Robbie McPherson Media Relations Manager 310.642.2032 Fax: 310.258.0701 rmcpherson@centuryhousing.org
Century Housing Announces $2.2 Million Loan to Finance Workforce Housing for 26 Families in El Monte
South El Monte, CA — Century Housing, one of California's largest affordable housing lenders, announces the closing of a $2.2 million site acquisition loan to Mayans Development for Villas Del Monte Townhomes in South El Monte. The 26-unit community will provide much-needed affordable housing for working families, with 13 units set aside for households earning up to 120% of the area median income. The moderate-income units are being subsidized by the City of South El Monte. “Villas Del Monte serves a working population in need of larger living spaces,” said G. Allan Kingston, President and CEO of Century Housing, which has helped finance more than 12,000 units in the Los Angeles area. “Providing working families with more quality housing choices is vital to the health of our economy in Los Angeles. Thirteen of these three-bedroom, two-bath townhomes will be affordable to moderate-income households, allowing a homeownership opportunity for families that might otherwise not even consider it a financial possibility,” Kingston said. Construction is expected to be completed in May of 2007.
Based in Culver City, Calif., Century Housing is a nonprofit affordable housing lender, which has used more than $320 million in financing to help create more than 12,000 quality ownership and rental homes, affordable to low- and moderate-income working families. Century links its affordable housing with social programs supported through The More Than Shelter Fund^® that have served more than 20,000 Southern California residents. These services include: on-site after-school academic tutoring for at-risk youth; construction job training and placement for men and women; child development centers for low-income families; transitional housing for homeless veterans; and wellness programs for seniors. For more information on Century Housing, please visit www.centuryhousing.org.