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CAHEC Connection August 2018
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 Nutrition Assistance: A Vital Need During the Summer
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Food insecurity is a problem that exists for thousands of families throughout our footprint - especially in the summer. By partnering with local organizations and food banks, the CAHEC Foundation is able to help connect youth to nutritious meals during a time when they need it most. Located in Durham, NC, the
East Durham Children's Initiative
(EDCI) is one organization we are proud to team up with to help ensure kids are healthy and ready to learn when they return to school in the fall.
Each summer at Maureen Joy Charter School - one of CAHEC's historic tax credit investments - EDCI hosts a program available to all families living in East Durham. The goal of the program is to reduce food insecurity during the summer months, when families are unable to access meal support through school-based programs. This year, the CAHEC Foundation proudly supported two weeks of their feeding initiatives, helping provide over 1,200 hot and nutritious meals to the EDCI community.
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By: Kemper Baker, CAHEC Board of Directors
In recent years, rental housing markets across the country have been robust. Although one would think that significant additions to the multifamily housing stock might bode well for affordability, we unfortunately have not seen any effects. Despite significant growth in the number of rental units in place, absorption has outstripped it. Vacancy rates fell to 30-year lows in 2016, and may have slipped further since. Why is there a growing demand for rental housing? According to various housing studies, even more renter families are cost burdened and fewer are taking on home ownership.
There has been a significant shift from owner-occupied to rental housing, cutting across age groups and income levels. Older, wealthier families are moving from owner-occupied to rental housing, especially at the higher end. What might be the downstream effects of such a process? While perhaps favorable for home ownership, those effects are unlikely to be favorable for rental affordability.
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Mark Your Calendars for the
2019 CAHEC Partners Conference
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Save the Date! Join us on
Tuesday, June 5, and Wednesday, June 6, 2019, for the 18th annual CAHEC Partners Conference at the
Grandover Resort & Conference Center in Greensboro, NC.
We will continue to update the conference section of our website as more details are finalized. In the meantime, please enjoy the pictures from this year's conference on our Facebook page.
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Mission in Action
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- Some of the CAHEC New Markets team attended the soft opening of the newly renovated Robinson Grant Performing Arts Center (RGPAC) in Clarksburg, WV, earlier this month. The RGPAC will be an economic driver for downtown Clarksburg by providing cultural and educational opportunities throughout the year. We are proud to provide a New Markets Tax Credit allocation to the city for this wonderful renovation!
- Congratulations to Tabor Landing in Tabor City, NC, and Enfield Pointe in Enfield, NC, on collectively receiving $20,000 through the CAHEC Foundation's Active Lifestyle Grant. Funding was used to install two youth playgrounds and will provide a safe place for residents to get outside and stay active.
- On July 27, CAHEC helped celebrate the grand opening of Wakefield Commons, a beautiful new community in Raleigh, NC, that 80 families now call home. The units were leased up in 45 days, proving just how great the need is for affordable housing throughout our footprint.
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Portfolio Highlights
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Expanding our Portfolio
CAHEC has added the following properties to our portfolio:
New Construction
Amber Spring - Raleigh, NC; 42 units for seniors; Developer: LIHTC Developers, LLC
James Pointe Apartments - Statesville, NC; 68 units for families; Developer: Pendergraph Development, LLC
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On the Road
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CAHEC will be attending the following upcoming events:
| Aug 17 |
Brown Proctor Apartments Groundbreaking - Winchester, KY |
| Aug 21-22 |
Kentucky Affordable Housing Conference - Lexington, KY |
| Aug 31 |
Ramblewood Apartments Ribbon Cutting - Batesburg, SC |
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Quick Links
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