Community investment organization CAHEC has significantly expanded its affordable housing portfolio in 2024, adding 59 properties across six states and creating housing opportunities for an estimated 7,620 residents. The organization's annual impact report highlights substantial investments in community development, demonstrating a comprehensive approach to addressing housing and socioeconomic challenges.
The organization's growth represents more than just housing units. In 2024, CAHEC and its foundation invested $438,875 in community programs, funding 102,000 meals for families and providing 250 summer camp scholarships for low-income youth. These targeted initiatives aim to support residents beyond basic housing needs, addressing educational and wellness opportunities.
A significant milestone for CAHEC in 2024 was receiving $50 million in New Markets Tax Credit allocations. These funds will finance community facilities throughout the Southeast and mid-Atlantic regions, with a focus on creating jobs and improving access to education, healthcare, and essential services in high-distress, 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 raised and distributed over $18 million to support community initiatives that empower low-income residents.
President and CEO Dana Boole emphasized the organization's commitment to being the South's premier community investment organization. The company's core businesses, including syndications, property management, and partnership development, are guided by values of integrity, excellence, innovation, and collaboration.
The organization's annual Partners Conference, which drew more than 515 attendees from 29 states, further underscores its collaborative approach to community development. By bringing together stakeholders and partners, CAHEC continues to expand its impact and develop innovative solutions to housing and community challenges.
