CAHEC Expands Affordable Housing Portfolio, Supports Nearly 8,000 Residents in 2024

Community Affordable Housing Equity Corporation (CAHEC) reported substantial growth in affordable housing development and community investment throughout 2024, adding 59 properties across six states and creating approximately 2,896 housing units for an estimated 7,620 residents.

The organization's annual impact report highlights significant achievements in community development, including substantial financial investments in educational and wellness programs. CAHEC and its foundation allocated $438,875 to support residents, funding 102,000 meals for families and providing 250 summer camp scholarships for low-income youth.

A key strategic initiative for 2024 involved receiving $50 million in New Markets Tax Credit (NMTC) allocations. These funds will support high-impact community facilities throughout the Southeast and mid-Atlantic regions, focusing on creating jobs and improving access to essential services in distressed, low-income communities.

Since its founding, CAHEC has developed and preserved 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 empowerment initiatives targeting low-income residents.

CAHEC President and CEO Dana Boole emphasized the organization's commitment to being the premier community investment organization in the South. The company's core businesses, including syndications, property management, and preservation, are driven by values of integrity, excellence, innovation, and community engagement.

The organization's annual Partners Conference, held in Raleigh, drew more than 515 attendees from 29 states, underscoring the broad national impact of CAHEC's affordable housing and community development work.