Florence Mills Theater Lofts to Provide Workforce Housing for 20 Families in Central Avenue Corridor

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. Century also recently opened the Century Community Charter School in Inglewood, California.

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

PRESS RELEASE FOR IMMEDIATE RELEASE July 18, 2006
Contact:	Robbie McPherson Media Relations Manager 310.642.2032 Cell: 310.433.7443 rmcpherson@centuryhousing.org
Florence Mills Theater Lofts to Provide Workforce Housing for 20 Families in Central Avenue Corridor
Los Angeles , CA — Century Housing announces the funding of a $430,000 acquisition loan to Dunbar EDC for the acquisition of the Florence Mills Theater in the historic Central Avenue Corridor. The building will be rehabilitated and renovated into 20 loft-style condominiums, providing much-needed workforce housing in South Los Angeles. The historic theater opened in 1927 as a silent movie house, and was later named after Florence Mills, the famous Broadway singer-dancer and comedienne. Current redevelopment plans include rehabilitating the 700-seat theater into a community meeting and performance space, and building a new top floor for new condominiums. “As the revitalization of central Los Angeles continues to move southward from Downtown, Century is pleased to work on the leading edge to create vital workforce housing for 20 families on Central Avenue,” said Stephen Peelor, Senior Vice President of Lending for Century Housing. Dunbar has also secured a $1.9 million grant from the California Department of Parks and Recreation. The $5.4 million development is expected to open in early 2008.
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. Century also recently opened the Century Community Charter School in Inglewood, California. For more information on Century Housing, please visit www.centuryhousing.org.