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CAHEC Connection                                   November 2018

In This Issue

Since 2004, CAHEC has offered the Open Doors Homeownership Grant to assist nonprofit organizations who develop for-sale affordable housing within our footprint. To date, CAHEC has awarded $560,000 towards this homeownership initiative to help provide housing to families earning 80 percent or less of the area median income. As our team of grant readers reviewed the applications this year, we evaluated how each organization addressed a strong community need, the positive impact their development would have on the community, and their strategy for alleviating the shortage of affordable housing. We also considered the social services provided to homeowners and the organization's proposed use of CAHEC's funding.


We are excited to announce the recipients of CAHEC's 2018 Open Doors Homeownership Grant:

$25,000: Habitat for Humanity of Philadelphia; Philadelphia, PA
$15,000: Habitat for Humanity of Craven County; New Bern, NC
$10,000: Coastal Empire Habitat for Humanity;   Savannah, GA

Each of these organizations is making important strides in providing their communities with much-needed affordable housing. To read about each organization and learn how their developments will change the lives of residents in their communities, please visit our  website.


The Village at Stone Creek, a CAHEC-sponsored property located in Asheboro, North Carolina, was presented with the 2018 Housing North Carolina Award for Rental Housing at the North Carolina Affordable Housing Conference in October. Sponsored 
by the North Carolina Housing Finance Agency, their awards ceremony acknowledges outstanding homeownership, rental, and supportive housing developments that serve as models for other communities.
Originally built in 1992, The Village at Stone Creek, a 56-unit acquisition-rehabilitation, underwent extensive interior and exterior renovations, with each unit receiving new interior walls and flooring, kitchens, and bathrooms. Site enhancements included improved accessibility to sidewalks, a newly paved parking lot, a new mailbox kiosk, and a picnic shelter. The property also received upgraded playground equipment with the help of the CAHEC Foundation's Active Lifestyle Grant.

As a result of the renovation, as well as the relationship developed between the owners, management company, and Asheboro police department, the neighborhood and community saw a reduction in crime, making the community a safer place to live, work, and play.

CAHEC was proud to be part of the rehabilitation of The Village at Stone Creek. Congratulations to East Point Homes and Halcon Development on your much-deserved award!

MIAMission in Action

  • Several CAHEC staff attended the grand opening of the Rocky Mount Event Center (RMEC) in Rocky Mount, NC, last month. This new multipurpose event venue with a sports tourism focus, paired with an urgent care and specialty health care facility, will make a tremendous economic impact on the city. We were proud to provide $10 million of New Markets Tax Credit allocation  to a facility that will provide increased access to health and wellness opportunities to the residents of Rocky Mount.
  • Are you local to the Durham, NC, area? Be sure to stop by and see the playhouse that CAHEC built and decorated last month while it's on display in the Diamond View Lawn across from the American Tobacco Campus beginning November 26. There will be a total of 14 playhouses on display and all of them are up for auction. Proceeds from the auction will go towards helping Habitat for Humanity of Durham build a home for a deserving family.
PortfolioPortfolio Highlights
Expanding our Portfolio

CAHEC has added the following properties to our portfolio:

New Construction

Glen Elk Apartments  - Clarksburg, WV; 36 units for seniors; Developer: Glen Elk Associates, LLC

Stockton Pointe - Kinston, NC; 60 units for families; Developer: Pendergraph Development, LLC



OnTheRoadOn the Road
CAHEC will be attending the following upcoming events:

Nov 12-14 2018 Affordable Housing Developers Summit - Chicago, IL
Nov 14 Mountain Housing Opportunities 30th Anniversary Celebration - Asheville, NC
Nov 14-16 Virginia Governor's Housing Conference - Richmond, VA
Dec 5-7 Opportunity: SC 2018 Conference - Myrtle Beach, SC
Dec 10-11 BB&T Leadership Institute - Greensboro, NC


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This institution is an equal opportunity provider.