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CAHEC Connection
October 2019
In This Issue

Last month at the IREM Global Summit in San Fransisco, CA, CAHEC was announced as the 2019 REME Award recipient for Corporate and Social Responsibility. In this category, organizations were recognized for exemplary corporate and social responsibility and contributions to the community that enhance the reputation of the real estate management industry. We are honored to receive this award!

Please take a minute to watch the video that was submitted as part of our nomination process. We were humbled to be in a category with so many wonderful organizations who believe in giving back to their communities.

Thank you to the Institute of Real Estate Management for this opportunity to showcase our mission. 


By: Andrew Foster, CAHEC Board of Directors & Duke Law Professor

There is an overwhelming consensus in the scientific community that urgent action is needed in order to reduce, and ultimately eliminate, the production of greenhouse gases. Without such action, humanity will almost certainly face catastrophic impacts resulting from changes in the climate due to increases in global temperatures. These impacts will likely include an increase in the severity and frequency of severe weather events, the loss of land mass as sea levels rise, water and food shortages, and the large scale displacement of people around the world leading to forced migration.

If the worst-case scenarios come to pass, it is inevitable that the effects of climate change will touch everyone. Low-income and other vulnerable populations, however, are likely to be impacted most severely. This is because these populations tend to live more frequently in the kinds of places that are most likely to be impacted by climate change; for example, in low lying areas that are particularly susceptible to flooding. Moreover, low-income and other vulnerable populations are less likely than others to be able to quickly recover from disasters.

In the face of this gloomy reality, several recent reports, including ones by the United Nations Intergovernmental Panel on Climate Change ("IPCC") and the Center for American Progress, offer the hope that tackling our country's affordable housing crisis - if done right - can also help to address the climate crisis. To make the most of this opportunity, however, it is critical that developers, owners, investors, and governments at all levels understand this will require new approaches because business as usual will likely make things worse.


MIAMission in Action
  • Congratulations to Mosaic Development on receiving a 2019 Housing NC Award for Cypress Court, a development in Ahoskie, NC, that provides 48 homes for working families earning 60% or less of the area median income. We were proud to be a part of this development and look forward to seeing how it continues making a difference in the Hertford county community. 
  • Last week, CAHEC staff attended a celebration to mark the completion of a  statewide LIHTC portfolio transaction consisting of 10 property rehabs. Congratulations to WWJ and Boyd Management on their hard work in revitalizing 440 units of affordable housing throughout nine counties in North Carolina!
PORTHIGHPortfolio Highlights
Expanding our Portfolio

CAHEC has added the following properties to our portfolio:

New Construction

Montgomery Commons Apartments  - Clarksville, TN; 96 units for families; Developer: Greenway Residential Development

Acquisition / Rehab

Blue Ridge Landing  - Benton, TN; 48 units for families; Developer: Woda Cooper Companies

Stevenson Square - Decatur, TN; 24 units for families; Developer: Woda Cooper Companies



Fully Qualified

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

Magnolia Gardens - Charlotte, NC

Westridge Apartments  - Greenville, SC


CAHEC will be attending the following upcoming events:

Oct 20-23
Opportunity Finance Network Conference - Washington, D.C.
Oct 20-23
NCSHA Annual Conference - Boston, MA
Oct 23-25
AHIC Meeting - Nashville, TN
Oct 27-29
NAHMA Fall Meeting - Washington, D.C.
Nov 11-12
NH&RA TN Developers Council Symposium - Nashville, TN
Nov 14-15
Tax Credit Property Dispositions Conference - Washington, D.C.

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Copyright 2019 Community Affordable Housing Equity Corporation 

This institution is an equal opportunity provider.