Century Housing Breaks Ground on The Banning, 64 Supportive Apartment Homes for People Experiencing Homelessness in Wilmington

LA Mayor Eric Garcetti joined developer CADI and project team members to celebrate permanent supportive housing coming to Los Angeles and made possible through Measure HHH and No Place Like Home programs

CULVER CITY, Calif., July 26, 2022 /PRNewswire/ -- Century Housing (Century) joined LA Mayor Eric Garcetti to celebrate the groundbreaking of The Banning, an all-new permanent supportive housing (PSH) development coming to the Los Angeles Harbor region neighborhood of Wilmington to provide 64 affordable homes for small families and individuals experiencing homelessness.

Developer Century Affordable Development, Inc. (CADI) thanked financial partners including the City of Los Angeles which contributed Measure HHH funding. "Through Proposition HHH, Angelenos funded opportunities for people to start anew. The Banning will provide more than just a place to stay, it will offer hope and stability," said Mayor Eric Garcetti. "Thank you to our partners and to the voters who believed in Proposition HHH."

LA Councilman Joe Buscaino remarked, "Solving homelessness requires a comprehensive housing system that meets unhoused residents at all levels of their journey. The final step to that journey is a place they can call their own. I am happy to know that 64 people will be housed and supported through The Banning development here in Wilmington. Every time our communities say yes to housing solutions, we move one step closer to solving the homelessness crisis."

Supplementing City support, the County of Los Angeles provided No Place Like Home funds. Together, these voter-approved programs have helped accelerate the rate of permanent housing development throughout Los Angeles and will help thousands of low-income and unhoused seniors, families, and individuals find a quality home with appropriate services available on-site.

Construction financing was provided by Wells Fargo while permanent financing will be delivered from Citibank. The Federal Home Loan Bank of San Francisco also provided AHP financing through Wells Fargo. "Century is proud to partner with the City of Los Angeles and the County of Los Angeles along with Wells Fargo and Citi from the private sector to deliver these beautiful homes to individuals and families in need," said Brian D'Andrea, Senior Vice President of Century Housing.

Gilbert Gonzales, Development Manager at Century Housing and project lead on The Banning, said "This site has been vacant for decades. Community members in Wilmington have expressed that this has led to blight, illegal dumping, and other issues. The Banning will replace a large vacant lot with a modern beautiful building and extensive landscaping."

CADI recognized the contributions of the project team, which includes architect GGA+ and contractor Walton Construction Services. The team took care to design a community that prioritizes resident needs, fits the scale of the neighborhood and provides plentiful onsite parking. All residents will have access to on-site supportive services provided by Century. The Banning will build upon Century's larger permanent supportive housing footprint in SPA 8, including the City of Long Beach.

"Our goal is to develop projects that foster community and comfort and are responsive to our resident's lived experiences. The Banning will have engaging indoor and outdoor spaces designed for both structured and organic interactions between residents, in a setting that feels safe and creates a pride in home," said Oscar Alvarado, Vice President of Housing at Century.

Development will adhere to prevailing wage labor rates and local hire labor requirements. Century has enlisted the support of Los Angeles Housing Compliance and Power2Workers to maximize job creation for Harbor area residents. The Banning is expected to be completed in December 2023.

Century Housing is a mission-driven Community Development Financial Institution (CDFI) supporting quality affordable home development throughout California. Century Housing provides innovative end-to-end financing from acquisition to permanent loans and serves as a reliable partner to state and local agencies, municipalities and other CDFIs in pioneering impactful financing programs like GSAF or LACHIF. Century's in-house development affiliate, Century Affordable Development, Inc., operates a portfolio of more than 2,100 affordable homes with several thousand in the pipeline. Visit www.century.org and www.centuryaffordable.org for more information.

SOURCE Century Housing

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