The Community Affordable Housing Equity Corporation (CAHEC) has significantly expanded its affordable housing portfolio in 2024, adding 59 properties across six states and creating approximately 2,896 housing units for an estimated 7,620 residents.
According to the organization’s annual impact report, CAHEC continued its mission of strengthening communities through strategic investments and comprehensive support programs. The organization’s president and CEO, Dana Boole, emphasized the company’s commitment to being the premier community investment organization in the Southern United States.
Key highlights from CAHEC’s 2024 activities include substantial community investments totaling $438,875, which supported educational and wellness opportunities for residents. These investments funded 102,000 meals for families and provided 250 summer camp scholarships for low-income youth.
In a significant financial development, CAHEC New Markets was awarded $50 million in New Markets Tax Credit (NMTC) allocations for the 2023 allocation round. These credits will finance community facilities throughout the Southeast and mid-Atlantic regions, focusing on creating jobs and improving access to essential services in high-distress, low-income communities.
The organization’s annual Partners Conference drew more than 515 attendees from 29 states, demonstrating its broad network and collaborative approach to community development.
Since its founding, CAHEC has made substantial contributions to affordable housing, developing and preserving 884 rental properties across 13 states. The organization has created more than 42,000 affordable housing units and distributed over $18 million to support community initiatives empowering low-income residents.
CAHEC’s comprehensive approach includes investing in low-income housing tax credits, historic tax credits, new markets tax credits, and renewable energy credits. The organization also provides loan programs, wellness and education initiatives, affordable housing development, and property management services.
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