CAHEC has successfully closed on three affordable housing properties in the Southeast during the second quarter of 2025, adding a combined total of 146 units to the region's housing stock. This initiative underscores the organization's commitment to ensuring access to affordable housing for families and seniors across varying income levels. The properties, located in Staunton, Virginia; Florence, Alabama; and Elizabeth City, North Carolina, represent a mix of new construction and rehabilitation projects aimed at preserving and enhancing community character while meeting the growing demand for affordable living spaces.
Lily Gardens in Staunton will offer 50 units equipped with modern amenities, targeting families at different income levels. Gateway Double Creek in Florence involves the rehabilitation of 48 units in a market with a proven demand for affordable housing. Renaissance Commons in Elizabeth City has been upgraded to provide 48 units for seniors, a demographic facing increasing housing challenges. These developments not only address the immediate need for affordable housing but also contribute to the long-term vitality of their respective communities.
Greg Mayo, CAHEC's Vice President of Acquisitions & Risk, highlighted the organization's role in fostering collaborative partnerships to build and sustain affordable rental communities. With a strong occupancy history and waiting lists at comparable properties, these developments are poised to make a meaningful impact. CAHEC's efforts reflect a broader commitment to leveraging tax credits and other financial tools to support affordable housing and community development in the Southeast and Mid-Atlantic regions.
