Affordable Housing: One Important Step Towards Creating Safe, Just, and Equitable Communities
Written By: Andrew H. Foster, CAHEC Board of Directors

There is no doubt that 2020 will be a year to remember. One of the most important events of the year was the brutal killing of George Floyd by members of the Minneapolis police department and the broad and sustained movement for racial justice that it sparked. Certainly, many Americans have been working for decades to achieve greater racial equality, but the last several months have just been different. Among other things, large majorities of white Americans now say that they believe Blacks and other minorities face racism and structural discrimination, both in the criminal justice system and in the broader society. 

While we may be relatively united in our understanding of the problem, there is less consensus about the solution. One controversial aspect of this movement has been the call by some to “defund the police”. A reasonable understanding of this is that it is a challenge to us all to honestly assess how to best invest public resources to enhance public safety. This reframing is leading to some important developments. For example, there now appears to be a general agreement that law enforcement is asked to do too much, and that more resources need to be invested in mental health services so that police are not asked to deliver social services in addition to enforcing the law.  
CAHEC Acquires Boyd Management, Inc.
On September 30, 2020, CAHEC acquired Boyd Management, Inc., and its property development arm WWJ, LLC. This acquisition strengthens and diversifies both companies and we are excited to welcome the Boyd family to our team. Boyd Management will operate as CAHEC Management, Inc., and together, we will be an organization of nearly 475 employees.

For those of you unfamiliar with Boyd Management, Inc., the 35-year-old company serves the Southeast as the largest privately held rural development property management firm of USDA properties, managing more than 325 multifamily assets. Boyd Management and CAHEC have enjoyed a 15-year partnership and this acquisition is a natural next step in our ongoing, long-term relationship. 

The full press release can be found here.
2020 Community Outreach Survey
CAHEC New Markets is seeking insight into the needs of low-income communities and persons throughout our southeast and mid-Atlantic service area. We value our affordable housing and community development partners’ knowledge of their communities and ask that you take a few minutes to complete the 2020 Community Outreach Survey.
The survey results will help us better understand the needs of the communities and residents we serve to better guide future New Markets Tax Credit investments. Respondents also have the choice to enter a drawing at the end of the survey for a chance to win an Amazon Echo Dot voice-activated smart speaker and a CAHEC New Markets Yeti Rambler Water Bottle. The survey will close on Friday October 23, 2020.
Mission in Action
The CAHEC Foundation has been a proud supporter of food banks throughout our footprint over the last few years, and we're especially proud of our partnership with the Food Bank of Central and Eastern North Carolina (CENC).
Each year, in addition to providing funding to support Nutrition Assistance for those in need, we volunteer nearly 400 hours in their facility sorting donations and packing boxes. The impact of providing 275,000 meals is tremendous, and the fact that we've done that in partnership with one of our favorite organizations makes it that more meaningful. Thank you to the staff of the Food Bank of CENC for your hard work and dedication in ensuring our community is nourished and taken care of.
Portfolio Highlights
Expanding our Portfolio

CAHEC has added the following properties to our portfolio:

Acquisition / Rehab

McCormick Crossing - Sistersville, WV; 48 units for families; Developer: Woda Cooper Companies, Inc.

New Construction

Bentley Apartments - Charleston, WV; 24 units for families; Developer: Chris Sadd/Steve Sadd/Mark Sadd

Macons Ridge - Nashville, NC; 84 units for seniors; Developer: Ilex Properties, LLC/Holly Smith

Walnut Trace - Raleigh, NC; 180 units for families; Developer: Taft-Mills Group

Adaptive Reuse

Port City II - Richmond, VA; 147 units for families; Developer: 2018 Wilkinson Family Irrevocable Trust/Christian Shield via Caduceus Development, LLC/Walter Parks/Jack Berry/Vie Lowden/Project: Homes

Fully Qualified

Congratulations to the following properties who have achieved 100% occupancy:

Cascade Gardens - Mooresville, NC

Pleasantburg Senior Apartments - Greenville, SC

Copyright 2020 CAHEC
This institution is an equal opportunity provider.