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November 2017
 

In This Issue
Portfolio Highlights
Expanding our Portfolio
CAHEC has added the following properties to our portfolio in the last 30 days:

Cypress Cove - Wilmington, NC
Developer: East Carolina Community Development, Inc.
New Construction - 200 units for families

Magnolia Gardens - Charlotte, NC
Developer: Mosaic Development Group, Inc.
New Construction - 82 units for seniors

Robinson Grand Performing Arts Center - Clarksburg, WV
Developer: City of Clarksburg, Clarksburg Development Authority
NMTC - performing arts center, ballroom, and classroom space

Fully Qualified
Congratulations to the following properties who achieved 100% occupancy in the last 30 days:

Sutton School - Sutton, WV
Roanoke - Williamston, NC
Inside CAHEC
We're Hiring   
Click here for a current listing of employment opportunities. 
 
Three Nonprofits Receive CAHEC's
Open Doors Homeownership Grant

Since  2004, CAHEC has offered the Open Doors Homeownership Grant to assist nonprofit organizations who develop for-sale affordable housing within our footprint. To date, CAHEC has awarded $510,000 towards this homeownership initiative to help provide housing to families earning 80 percent or less of the area median income. As our team of grant readers reviewed the applications this year, we evaluated how each orga nization addressed a strong community need, the positive impact their development would have on the community, and the creative and focused strategy for alleviating the shortage of affordable housing. We also considered the social services provided to homeowners and the organization's proposed use of CAHEC's funding.


We are excited to announce the recipients of CAHEC's 2017 Open Doors Homeownership Grant:


 

$25,000:  Habitat for Humanity of Durham;  Durham, NC
$15,000:  Macon Area Habitat for Humanity;  Macon, GA
$10,000:  Habitat for Humanity of Forsyth County
W inston-Salem, NC

 

Each of these organizations is making important strides in providing their communities with much-needed affordable housing. To read about the recipients' missions and how their developments will change the lives of residents in their communities, please visit our website.

 

Parkside Commons Receives Award at Housing Conference

Parkside Commons, a CAHEC-sponsored property located in Greenville, NC, was presented with the 2017 Housing North Carolina Award for Rental Development at the North Carolina Affordable Housing Conference in October. Sponsored by the North Carolina Housing Finance Agency, the awards acknowledge outstanding homeownership, rental, and supportive housing developments that serve as models for other communities.

Parkside Commons, a development devoted to seniors, is ideally located in Greenville's medical district within walking distance of a grocery store, banks, restaurants, and Vidant Medical Center. The development offers one-and two-bedroom garden apartments, including ten apartments fully equipped for residents with disabilities.  Residents also have access to many on-site amenities, including a Rex Williams Wellness Center sponsored by the CAHEC Foundation, a walking trail, outdoor exercise equipment, and raised garden beds. 

CAHEC was proud to be part of the development of Parkside Commons. Congratulations to Taft Development Group and the City of Greenville on your much-deserved award!
 

Our Mission in Action  
  • The CAHEC Foundation was proud to award a Rex Williams Wellness Grant to Indigo Apartments in Franklin, NC; Heritage at Sliding Rock in Greenville, SC; and Cedar Terrace in Hendersonville, NC, earlier this month. Each property received items like treadmills, ellipticals, free weights, and fitness posters, to help design the perfect wellness room for their residents. 
     
  • Congrats to Sumner Ridge in Greensboro, NC, and Highland Hill Apartments in Somerset, PA, on collectively receiving $30,000 through the CAHEC Foundation's Active Lifestyle Grant! Funding was used to help install these wonderful youth playgrounds, designed to help residents stay active.
  • The CAHEC Foundation is now a registered charity with AmazonSmile! When you visit the AmazonSmile website, search for the CAHEC Foundation and select it as your charity of choice. After you buy an item, AmazonSmile will donate 0.5% of the purchase price to the CAHEC Foundation. Please help us spread the word if you, or your organization, make purchases through AmazonSmile. All proceeds will help fund the grants and initiatives the CAHEC Foundation offers to low-income residents throughout our footprint.
For more information on CAHEC's Community Investments grants, visit our website or  contact Stefanie Lee at slee@cahec.com
 


CAHEC on the Road
 
CAHEC will be attending the following upcoming events:
  • 2017 Virginia Governor's Housing Conference - November 15-17 - Norfolk, VA
  • New Markets Tax Credit 101 Workshop - November 17 - Fairmont, WV
  • 2017 Homes Within Reach Conference - December 4-5 - Harrisburg, PA
  • Recovery Point of Charleston Apartments Grand Opening - December 7 - Charleston, WV