CAHEC New Markets, a certified Community Development Entity and affiliate of CAHEC, has been awarded a $75 million New Markets Tax Credits (NMTC) allocation by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund).

This is our seventh NMTC allocation award, bringing CAHEC New Markets’ cumulative allocation to $345 million. This award will enable continued investment in high-impact community facilities throughout the Southeast and Mid-Atlantic regions, advancing projects that create jobs, expand access to education and healthcare, and improve the availability of essential goods and services in high-distress, low-income communities.

To date, CAHEC New Markets’ NMTC allocations have helped, and are projected to support meaningful, measurable outcomes, including:

• More than 3,500 jobs created

• 5,400 student seats added through educational facilities

• 662 shelter and recovery center beds

• Healthcare access for over 53,800 patients annually

This allocation was awarded as part of the CDFI Fund’s historic $10 billion NMTC allocation authority, the largest in the program’s history. The NMTC Program plays a vital role in advancing economic development by attracting private investment to communities where traditional financing is often limited, helping to build resilient local economies and critical community infrastructure.

Natalie Swanson, CAHEC New Markets Manager, commented, “With this award, CAHEC New Markets will be able to meaningfully support communities experiencing severe economic distress in our footprint. We are tasked with making investments that will help them to stabilize, advance, and thrive, and we are deeply grateful for the opportunity to serve in this way.”

We are grateful to the CDFI Fund, our partners, and community stakeholders who make this work possible. We look forward to continuing to invest in projects that strengthen communities and expand opportunities across our region.

We are excited to welcome Ed Stone as our new Senior Vice President, Syndications. Ed will be responsible for furthering Syndications' vision and performance to maintain its growth and strategic competitive advantage. 

Ed joins CAHEC with over 25 years of low-income housing tax credit (LIHTC) experience. In his most recent role, Ed focused on streamlining and automating various aspects of the investment diligence/approval process and coaching staff to better leverage the capacities and needs of stakeholders, all while closing over $1.3 billion/annum in LIHTC equity.

Dana Boole, President & CEO of CAHEC, explained that Ed's "growth mindset, coaching abilities, investor intuition, and excellence around credit/portfolio performance is an outstanding addition to CAHEC's team."

We're excited to have Ed join the CAHEC team and look forward to everyone meeting him in the months to come!

As we reflect on 2025, we extend our heartfelt gratitude to our amazing partners and dedicated residents - your unwavering support has been the cornerstone of CAHEC's success. Together, we have achieved many milestones, reinforcing our commitment to creating sustainable neighborhoods that thrive. Please take a moment to watch the video below, where you can relive some of the highlights from last year.

We look forward to exciting future collaborations and initiatives that will further enrich the lives of our residents!

CAHEC has added the following property to our portfolio:

Georgia Preservation Portfolio II - Multiple cities, GA; Acquisition/Rehab of 410 units across 13 properties; Developer: CAHEC Development

Glade View Trace Apartments - Chester, VA; 50-unit new construction for Seniors 55+; Developer: Taft-Mills Group, LLC

Meadowview - Randleman, NC; 40-unit Acquisition/Rehab for families; Developer: Weaver Investment Company

Pleasant View Apartments - Strasburg, VA; 48-unit new construction for families; Developer: Surber Development & Consulting, LLC

Windhill Apartments - Greensboro, NC; 60-unit Acquisition/Rehab for families; Developer: Affordable Housing Management, Inc.