CAHEC Closes Six Properties in the Second Quarter of 2024

RALEIGH, NC, July 23, 2024 /24-7PressRelease/ — Furthering its mission of strengthening communities, CAHEC is proud to announce the closing of six affordable housing properties during the second quarter that will help ensure everyone has access to a home they can afford. The six communities throughout North and South Carolina have a combined total of 602 units of affordable housing and $53,996,848 of net equity. These developments combine new construction and acquisition/rehabilitation, where existing affordable housing communities are preserved and enhanced. The communities closed in the second quarter of 2024 include:

• Azalea Park – Summerville, SC – 64 units for families
• Birch and Branch Apartments – Raleigh, NC – 180 units for families
• Elijah’s Landing – Morehead City, NC – 168 units for families
• Meadowgreen Apartments – Reidsville, NC – 70 units for families
• Mountain Glen Apartments – Brevard, NC – 56 units for families
• Stateside Landing at Roanoke – Roanoke Rapids, NC – 64 units for families

“The communities completed in the last quarter hold significant importance, serving as exemplars of our commitment to forging new pathways in affordable housing and preserving and revitalizing existing communities. As the demand for affordable housing continues to rise, CAHEC takes immense pride in our role within collaborative partnerships that create or preserve these communities across the Southeastern region,” stated Greg Mayo, Vice President of Acquisition and Risk Management.

CAHEC is a community investment organization based in Raleigh, NC, and Columbia, SC, that offers housing and life-changing opportunities to residents throughout its Southeast and Mid-Atlantic footprint. CAHEC’s product areas include investing in low-income housing tax credits, historic tax credits, new markets tax credits, and renewable energy credits. CAHEC also provides 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 CAHEC’s website.

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