CFHP Provides Affordable Housing and Employment

A Manager with SP Investment Fund, LLC in Los Angeles, Gil Seton works primarily with investing in real estate ventures involving apartment complexes that provide affordable housing and receive some form of government subsidy. Gil Seton has worked with numerous local, state and federal housing subsidy programs, including the Century Freeway Housing Program (CFHP) which was funded with federal funds and originally administered by the State of California Housing and Community Development Department. Later, the CFHP became administered by a private non-profit named Century Housing Corporation.

CFHP grew out of a need to address affordable housing in areas extending from Norwalk to LAX (airport) that was destroyed so that the Century Freeway f (I-105) could be built. In a landmark decision, Judge Harry Pregerson of the United State Court of Appeals of the Ninth Circuit presided over a Consent Decree wherein Caltrans and the Department of Transportation were required to provide funds to subsidize the replacement of the affordable housing stock that would be demolished to make way for the Century Freeway. The funds went to the newly created Century Freeway Housing Program.

Billed as the largest construction project at the time, the city would have its freeway, but the residents would also be provided 4,000 affordable housing units, in addition to employment opportunities for both women and minorities.