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September 2017
 

In This Issue
Portfolio Highlights
Fully Qualified:
Congratulations to the following properties who have achieved 100% occupancy in the last 30 days:

The Hedges - Benson, NC
The Meadows - Selma, NC
Inside CAHEC
We're Hiring   
Click here for a current listing of employment opportunities. 
 
Quick Links
Site Manager Spotlight

In 2013, Jenkins High School in Kentucky was renovated into 26 apartments for low-income senior residents. Now known as Jenkins School Apartments, this property encompasses everything a person could want in a historic apartment home: the landscaping is perfectly manicured, the building is clean, the apartments are beautiful, and the property has an overall welcoming feel.  "I try to keep everything looking nice for the residents," explains Misty Collins, site manager for Jenkins School Apartments. "I want them to feel proud to call this home and to love living here. That's important to me." 


Misty has been the site manager at Jenkins School Apartments for nearly four years. After two years on the job, she also became the on-site maintenance person. "I was only working part-time at first. When the maintenance position became available, I volunteered to do the work." Misty had prior maintenance experience from when she owned her own carpet cleaning business. "I used to work on equipment all the time and I loved it. I knew I could complete some of the maintenance requests at the property, and I was willing to learn the other tasks that I wasn't familiar with."

 

Jill Odom Retiring in December

After dedicating over 17 years to our organization, Jill Odom, VP, Asset Management, has announced her retirement. As shared by Dana Boole, our President & CEO, "Jill's passion for this organization has been significant. Her knowledge and dedication to compliance standards, along with her loyalty to our residents and partners, will be remembered forever." Although Jill's leadership and expertise will be missed, her long-standing contributions and commitment to our mission will never be forgotten.
 
Please join us in thanking Jill for her many contributions to CAHEC and the affordable housing industry. We wish her well in her future endeavors, which we are sure will include lots of travel, reading, and animal rescue.   
 

Our Mission in Action  
  • Sparkleberry Apartments in Columbia, SC, is one of 16 properties in CAHEC's South Carolina Preservation Fund currently under renovation. Leslie Wheat, Sparkleberry's site manager, said that "being able to watch the contractors transform 8-10 apartments in one day is incredible. To see my residents' faces when they come home to new cabinets, bathtubs, and lighting, is priceless." CAHEC is proud to be part of this revitalization project!

  • CAHEC was honored to be part of the grand opening for Devenwood Apartments in Ridgeland, SC. This newly remodeled community is comprised of 24 one-bedroom apartments and offers residents various amenities including an on-site laundry facility and fitness room. 
For more information on CAHEC's Community Investments grants, visit our website or  contact Stefanie Lee at slee@cahec.com
 

Assembly Apartments Marked as First
Completed Community for CAHEC Capital

 

Last month, several CAHEC staff travelled to Greenville, SC, to attend the ribbon cutting for Assembly Apartments, CAHEC Capital's first completed community. CAHEC Capital, an entity of CAHEC, offers a range of loan programs for developers and nonprofits, helping ensure their low-income housing developments are financially viable. Assembly Apartments received over $2 million in loan financing from CAHEC Capital to purchase the underlying land, fund predevelopment soft costs, and provide bridge financing as the development approached construction completion.

CAHEC provided an additional $11 million in equity for the new 240-unit community, one of CAHEC's largest developments. The complex provides one-, two-, and three-bedroom options for families earning between 50 and 60 percent of the Area Median Income. The tenants will enjoy a variety of amenities, including a playground and fitness area.


 


CAHEC on the Road
 
CAHEC will be attending the following upcoming events:
  • NASLEF Annual Conference - September 13-15 - Indianapolis, IN
  • Virginia Housing Alliance Conference - September 26-27 - Richmond, VA
  • Opportunity Finance Network Conference - September 26-28 - Washington, D.C.
  • Dixon Hughes Goodman - Triad Executive Briefing - October 3 - Greensboro, NC