The Community Affordable Housing Equity Corporation (CAHEC) has reported substantial growth in its affordable housing portfolio for 2024, demonstrating a commitment to addressing housing accessibility and community development in the Southeast and Mid-Atlantic regions.
CAHEC expanded its syndication portfolio by adding 59 properties across six states, representing approximately 2,896 affordable housing units that will provide homes for an estimated 7,620 residents. This significant expansion underscores the organization's ongoing mission to create sustainable housing solutions for low-income communities.
Beyond housing development, CAHEC made substantial community investments in 2024. The organization and its foundation allocated $438,875 to support educational and wellness programs, including funding for 102,000 meals for families and 250 summer camp scholarships for low-income youth.
The organization also received $50 million in New Markets Tax Credit (NMTC) allocations, which will finance community facilities throughout the Southeast and mid-Atlantic regions. These investments aim to create jobs and improve access to education, healthcare, and essential services in high-distress, low-income communities.
Since its founding, CAHEC has contributed to developing and preserving 884 rental properties across 13 states, creating more than 42,000 affordable housing units. The organization has also raised and distributed over $18 million to support community initiatives empowering low-income residents.
These efforts reflect CAHEC's strategic approach to community investment, focusing on housing, economic development, and resident support programs that address systemic challenges in underserved communities.
