RALEIGH, NC, September 12, 2023 /24-7PressRelease/ -- Annually, CAHEC reviews the preceding 12 months in collaboration with our partners to see how we positively impact the communities we serve. From July 1, 2022, to June 30, 2023, CAHEC expanded its syndication portfolio by incorporating 24 properties spread across eight states. This growth encompasses around 1,366 affordable housing units serving an estimated 3,764 residents.
President and CEO of CAHEC, Dana Boole, expressed that "While CAHEC has faced adversity these last few years - Covid, supply chain, and interest rate disruptions - our talented staff and market acumen, along with the work of creative partners, has allowed us to continue making a material and positive impact. We pushed ourselves in furtherance of our vision - thriving communities with affordable housing and equitable opportunities for all – and it worked!"
Other significant highlights from the Year in Review report include:
• CAHEC and the CAHEC Foundation dispersed $414,000 in community investments to offer residents educational and wellness opportunities. Portions of the money went to providing 100,500 meals to families and 235 summer camp scholarships for low-income youth.
• CAHEC New Markets, an affiliated entity of CAHEC, dispersed $29.5 million of New Markets Tax Credit allocation toward financing three impactful community development projects that strengthen the economy while providing necessary supportive services.
• CAHEC welcomed more than 500 attendees from across 24 states back to our hometown in Raleigh to celebrate the 20th annual Partners Conference in June.
View the full report here: CAHEC Annual Impact Report
CAHEC has helped develop or preserve 813 rental properties across 13 states, equating to over 38,000 affordable housing units serving an estimated 102,703 residents. Beyond housing, we have raised and distributed more than $17 million in community investment initiatives to aid low-income residents.
About CAHEC
CAHEC is a community development organization that strengthens communities by providing affordable housing and supportive service initiatives to residents in the Southeast and Mid-Atlantic regions. CAHEC engages in diverse product areas, including low-income housing tax credits, historic tax credits, new markets tax credits, and renewable energy credits. Additionally, CAHEC offers loan programs, wellness and education initiatives for residents, affordable housing development, and property management services. To learn more about their contributions to affordable housing and surrounding communities, visit the CAHEC website.
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