Century Housing Announces $22.3 Million Loan to Finance Workforce Housing in Rancho Cucamonga

Based in Culver City, California, 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 May 18, 2006
Contact:	Robbie McPherson Media Relations Manager 310.642.2032 Cell: 310.433.7443 rmcpherson@centuryhousing.org
Century Housing Announces $22.3 Million Loan to Finance Workforce Housing in Rancho Cucamonga
Culver City, CA — Century Housing announces the closing of a $22.3 million bridge loan to LINC Housing for the acquisition and rehabilitation of Pepperwood Apartments in Rancho Cucamonga. The 230-unit multifamily apartment community will provide much-needed affordable housing for working families, with 46 units set aside for households earning below 50% of the area median income. Eventually, all 230 of the units will be affordable to low-income families. “As a previous collaborator with LINC Housing, Century Housing is pleased to participate in this major advance in the creation of workforce housing,” said G. Allan Kingston, President and CEO of Century Housing, one of California’s largest affordable housing lenders, which has helped finance more than 12,000 homes in the Los Angeles area. “Rancho Cucamonga is a community in need of quality affordable housing, and by providing this financing we are taking a step forward in establishing a neighborhood that is both appealing and affordable to low-income working families,” Kingston said. The seven-building development will undergo energy-efficiency upgrades and other moderate rehabilitation.
Based in Culver City, California, 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.