2025 By the Numbers
Capital Under Management
Properties
Units
Construction Types
New
Adaptive Reuse
Acquisition/ Rehab
Tenancy Types
Each icon equals 10 properties
Each icon equals 10 properties
In 2025, CAHEC supported the community through its Nutrition Assistance Initiative by sponsoring three food box distributions. These events provided nearly 50,000 meals to families in need during a challenging time, as temporary pauses in SNAP benefits left many households with fewer resources to put food on the table.
In November and December, CAHEC partnered with Interfaith Food Shuttle to host two food distributions in Rocky Mount, NC. A team of volunteers worked together to prepare and distribute food boxes totaling over 21,000 pounds of food, providing nearly 18,000 meals to low-income households in the area. Families driving through in their cars received a bag containing fresh produce, meat, bread, and a box of non-perishable items.
That same support was extended to Greensboro, NC, where CAHEC funded a food box distribution in partnership with Second Harvest Food Bank of Northwest North Carolina. This single event served 294 households and provided more than 31,100 meals, along with essential items such as toiletries. Each family also received a grocery store gift card, offering flexibility to purchase additional food, medications, or other necessities.
On Sunday, August 31, 2025, a fire devastated Adair Place Apartments, one of our communities in Goldsboro, NC. The fire displaced 50 residents, many of whom lost most, if not all, of their belongings. "When we hear about a tragedy like this, our team immediately connects with partners to assess the situation and see how we can help," said Stefanie Lee, Community Relations Manager for CAHEC. "The well-being of our residents is always our priority, and we want them to know they are not facing this alone."
The Goldsboro community quickly rallied to support those affected. A local church offered to help with temporary housing, while local businesses and community members stepped in to donate food items, clothing, school supplies, and other essentials. "It's been inspiring to see so many people come together to support our residents," shared Teresa Narron, Director of Operations for Pendergraph Management. "The generosity of this community is making a real difference for families who are starting over."
Through CAHEC's Disaster Relief Initiative, we provide immediate assistance to displaced residents. With the support of Remnant Management, Centrant Community Capital, First Bank, and many individual donors, we distributed gift cards so families could purchase the items they needed most. Because of this collective effort, CAHEC nearly tripled our contribution to the property, ensuring families had greater support during this critical time.
City: Murray
State: KY
# of Units: 60
Tenancy: Elderly: 55 and Older
Construction: New
When Mardia Stephenson talks about Water Garden Park, she doesn’t just describe an apartment community - she describes home. Mardia moved to Water Garden Park in 2014, right when the senior community first opened. More than a decade later, she still remembers how it felt on move-in day: welcoming, seamless, and ready for her to begin a new chapter. “Everything was perfect,” she recalled. “It felt like it was meant to be.”
For 30 years, Mardia worked as a speech therapist, dedicating her life to helping others find their voice. After retirement, she realized that maintaining her independence meant finding housing that was both manageable and affordable. Before finding Water Garden Park, Mardia lived in a nearby rental house. While it served its purpose, it no longer fit her lifestyle. A friend referred her to the newly opening community, and the transition proved life-changing. “I wouldn’t be able to afford an apartment this nice if it were market rate,” Mardia explained. “It would easily be twice as much.” Affordable housing has allowed her to manage her expenses, care for her two beloved cats, and still enjoy the activities that bring her happiness. “Having affordable rent helps me tremendously,” she explained.
What truly sets Water Garden Park apart for Mardia isn’t just affordability - its community. “My neighbors here are just wonderful,” she said with a smile. “We are a close group of people. Everyone is friendly and we really look out for each other.” That sense of belonging has only grown stronger over the years. Mardia has formed deep friendships within the community - and even reunited with someone from her past. Her boyfriend - who happened to be her date to a Valentine’s pageant in second grade - moved into Water Garden Park three years after she did. The two reconnected through Facebook, and today, they live just a few floors apart, surrounded by friends who have also chosen to call the community home.
An accomplished shag dancer since high school, Mardia’s joy for life extends well beyond her apartment walls. In 2021, she was inducted into the Atlantic Beach Shaggers Hall of Fame - an honor recognizing her lifelong passion for dance and community. Affordable housing has allowed her the freedom to continue pursuing these passions, rather than worrying about how to make ends meet.
When asked what she wanted our partners to know, Mardia didn’t hesitate. “We need more places like this,” she says. “There are so many people in our stage of life who have lost a spouse or can’t maintain a home anymore. They need an affordable place they can truly manage, somewhere they feel cared for. I know I’d be pretty lonesome if I didn’t find Water Garden Park, having this community around me makes all the difference.”
Thanks to communities like Water Garden Park, residents like Mardia aren’t just finding housing - they’re finding stability, friendship, and joy. Thank you, Mardia, for letting us share your story!
City: Chadbourn
State: NC
# of Units: 18
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Raleigh
State: NC
# of Units: 180
Tenancy: Family
Construction: New
City: Roanoke Rapids
State: NC
# of Units: 26
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Washington
State: NC
# of Units: 40
Tenancy: Family
Construction: Acquisition/Rehab
City: Maxton
State: NC
# of Units: 32
Tenancy: Family
Construction: Acquisition/Rehab
City: Hookerton
State: NC
# of Units: 16
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Calabash
State: NC
# of Units: 60
Tenancy: Elderly: 55 and Older
Construction: New
City: Mocksville
State: NC
# of Units: 28
Tenancy: Family
Construction: Acquisition/Rehab
City: Pembroke
State: NC
# of Units: 36
Tenancy: Elderly: 55 and Older
Construction: Rehab
City: Chadbourn
State: NC
# of Units: 24
Tenancy: Family
Construction: Acquisition/Rehab
City: Kannapolis
State: NC
# of Units: 60
Tenancy: Family
Construction: New
City: Pinetops
State: NC
# of Units: 25
Tenancy: Family
Construction: Rehab
City: Morehead City
State: NC
# of Units: 168
Tenancy: Family
Construction: New
City: Elizabethtown
State: NC
# of Units: 24
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Grover
State: NC
# of Units: 24
Tenancy: Family
Construction: Acquisition/Rehab
City: Mooresville
State: NC
# of Units: 59
Tenancy: Family
Construction: Acquisition/Rehab
City: Arden
State: NC
# of Units: 120
Tenancy: Family
Construction: New
City: Reidsville
State: NC
# of Units: 70
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Selma
State: NC
# of Units: 24
Tenancy: Family
Construction: Acquisition/Rehab
City: Morganton
State: NC
# of Units: 48
Tenancy: Family
Construction: Acquisition/Rehab
City: Brevard
State: NC
# of Units: 56
Tenancy: Family
Construction: Acquisition/Rehab
City: Spring Hope
State: NC
# of Units: 25
Tenancy: Family
Construction: Acquisition/Rehab
City: Sanford
State: NC
# of Units: 40
Tenancy: Family
Construction: Acquisition/Rehab
City: Mooresville
State: NC
# of Units: 24
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Shelby
State: NC
# of Units: 32
Tenancy: Family
Construction: Acquisition/Rehab
City: Newland
State: NC
# of Units: 32
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Polkton
State: NC
# of Units: 16
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Wadesboro
State: NC
# of Units: 24
Tenancy: Family
Construction: Acquisition/Rehab
City: Hamlet
State: NC
# of Units: 24
Tenancy: Family
Construction: Acquisition/Rehab
City: Belhaven
State: NC
# of Units: 38
Tenancy: Elderly: 55 and Older
Construction: Rehab
City: Sparta
State: NC
# of Units: 36
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Taylorsville
State: NC
# of Units: 33
Tenancy: Family
Construction: Acquisition/Rehab
City: Fair Bluff
State: NC
# of Units: 17
Tenancy: Family
Construction: Acquisition/Rehab
City: Sylva
State: NC
# of Units: 27
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Wendell
State: NC
# of Units: 84
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Scotland Neck
State: NC
# of Units: 20
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Valdese
State: NC
# of Units: 34
Tenancy: Family
Construction: Acquisition/Rehab
City: Chadbourn
State: NC
# of Units: 38
Tenancy: Family
Construction: Acquisition/Rehab
City: Laurinburg
State: NC
# of Units: 38
Tenancy: Family
Construction: Acquisition/Rehab
City: Winterville
State: NC
# of Units: 32
Tenancy: Family
Construction: Acquisition/Rehab
City: Fairmont
State: NC
# of Units: 32
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Albemarle
State: NC
# of Units: 40
Tenancy: Family
Construction: Acquisition/Rehab
City: Raleigh
State: NC
# of Units: 44
Tenancy: Family
Construction: Acquisition/Rehab
City: Cary
State: NC
# of Units: 50
Tenancy: Family
Construction: Acquisition/Rehab
City: Raleigh
State: NC
# of Units: 32
Tenancy: Family
Construction: Acquisition/Rehab
City: Raleigh
State: NC
# of Units: 120
Tenancy: Family
Construction: Acquisition/Rehab
City: Raleigh
State: NC
# of Units: 48
Tenancy: Family
Construction: Acquisition/Rehab
City: Cary
State: NC
# of Units: 32
Tenancy: Family
Construction: Acquisition/Rehab
City: Raleigh
State: NC
# of Units: 48
Tenancy: Family
Construction: Acquisition/Rehab
City: Richmond
State: VA
# of Units: 83
Tenancy: Elderly: 55 and Older
Construction: New
City: Stuarts Draft
State: VA
# of Units: 50
Tenancy: Family
Construction: New
City: Ripley
State: TN
# of Units: 48
Tenancy: Family
Construction: Acquisition/Rehab
City: Summerville
State: SC
# of Units: 64
Tenancy: Family
Construction: Acquisition/Rehab
City: Blackville
State: SC
# of Units: 24
Tenancy: Family
Construction: Acquisition/Rehab
City: Denmark
State: SC
# of Units: 20
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Lexington
State: SC
# of Units: 78
Tenancy: Family
Construction: New
City: Bruce
State: MS
# of Units: 24
Tenancy: Elderly: 55 and Older
Construction: Acquisition/Rehab
City: Belzoni
State: MS
# of Units: 16
Tenancy: Family
Construction: Acquisition/Rehab
Situated in Salisbury, North Carolina, Britton Village represents a step forward in creating quality, affordable housing for families. This thoughtfully designed development by Scantland, Inc. provides 80 Low Income Housing Tax Credit (LIHTC) units tailored to meet the needs of family households earning up to 60% of the Area Median Household Income (AMHI). With a mix of one-, two-, and three-bedroom units, Britton Village aims to foster stability, opportunity, and a sense of community for its residents while addressing Salisbury's growing need for affordable housing. Families moving into Britton Village gain more than shelter; they secure a sense of stability that allows them to improve their overall well-being. On-site amenities foster a sense of community and promote wellness. The development includes a community building, fitness room, playground, and covered picnic area to encourage active lifestyles and social connections. Additional features like a computer room, central laundry facilities, and an on-site management office enhance daily convenience, making Britton Village a self-sufficient and resident-focused community. As a model for sustainable and inclusive growth, Britton Village represents a brighter future for Salisbury and the broader community.
Jevue Club Apartments, a 40-unit community originally constructed in 1977, underwent a transformative rehabilitation that significantly enhanced the quality of life for families while preserving critically needed affordable housing in Wetzel County, West Virginia. All units remained rent-restricted to families earning 60% of the Area Median Income (AMI) or less, with 10 units designated for households earning below 40% AMI. Enhancements made to Jevue Club included updated appliances, central air conditioning, washer/dryer hookups, and all-new flooring, cabinetry, windows, roofing, and siding—creating homes that are both functional and comfortable for today's families. Beyond the units themselves, the redevelopment project brought sweeping site improvements. A newly constructed 1,168-square-foot community building is now a vibrant hub with a computer lab, laundry facilities, and on-site management offices. Outdoor spaces were also revitalized, including new playground equipment, a resurfaced basketball court with new hoops, and refreshed landscaping that enhances the overall appeal and livability of the property. The project not only restored an aging asset but reaffirmed a steadfast commitment to providing safe, high-quality, and affordable housing for current and future generations in Wetzel County.
Located in Lexington, Kentucky, Davis Park Station consists of 73 one-, two-, and three-bedroom units ranging in size from 738 to 1,134 square feet. The units are spread between 3 buildings, with one accessible unit attached to the community building. Site amenities include a management building with office space, laundry facilities, and a community room. One of the things that sets Davis Park Station apart is the public-private partnership, which includes the City of Lexington's Workforce Training Center on-site. This center will provide career and employment services for residents and community members. "Davis Park Station epitomizes community collaboration. Each resident household has access to both affordable housing and employment services training, which allows them to pursue both housing stability and economic growth simultaneously," said President of AU Associates, Johan Graham.
Amberly Trace Apartments is a newly constructed affordable housing community located in Burlington, NC. The property comprises 80 one-, two-, and three-bedroom units, ranging in size, and was designed to serve households earning up to 60% of the Area Median Household Income. Amberly Trace contains four three-story walk-up buildings and one standalone community center. Within the community building, residents have access to a variety of supportive amenities, including a spacious community room for gatherings and events, on-site laundry facilities, a fitness center to promote health and wellness, and a computer room to enhance digital access and educational opportunities. Each unit at Amberly Trace is outfitted with a wide range of modern, energy-efficient features that enhance daily living. Amberly Trace is more than just a place to live — it's a community intentionally built to support families in reaching their goals, improving their quality of life, and fostering long-term stability.
“It’s supposed to be hard. If it wasn’t hard, everyone would do it. The hard is what makes it great.” Tom Hanks; A League of Their Own
Each year, our industry works smarter through relationship building, due diligence, and execution, often producing similarly high-quality results. While some may question efficiency and focus, the reality is that stakeholder needs, both internal and external, continue to rise and it’s our responsibility to meet – and preferably exceed – those expectations.
Our industry is in its 40th year – CAHEC’s 34th – and with that comes an unprecedented level of institutional knowledge, performance data, and intuition that’s applied to our everyday efforts. Our organizations have become more robust, evolving from general practitioners into a wide range of subject matter experts. We now offer expanded ancillary products and services, and are more effectively furthering our mission and values. We strive for the right balance of new ideas and technologies while recognizing that basic “blocking and tackling” is a foundational element of success.
A clear example is the evolution of artificial intelligence (AI) and its role in an organization of CAHEC’s size, industry presence, and service objectives. Across all divisional lines - syndications (equity and debt), property management, general partnerships, and preservation – data management related to due diligence, asset management, and stakeholder reporting is paramount to our work. It drives analysis of prospective investments and developments, portfolio trending, and compliance management, all of which are ongoing activities. Looking ahead, this same work will be done expeditiously, leaving more time to strategically evaluate opportunities, solve problems, and be forward thinking.
That said, AI, at least in our affordable housing niche, cannot replace basic human interaction. An AI Assistant will not substitute instinct when evaluating a piece of land for development, easing stakeholder frustration when a process is not “going their way,” or negotiating fine points of a transaction. While AI can expedite the dissemination and trending of information, it is still people who possess the emotional intelligence to best further an organization’s values and vision. As eloquently shared by legendary track star Usain Bolt, “I trained four years to run nine seconds…and people give up when they don’t see results in two months.”
A sincere thanks to all stakeholders who have been an integral cog in our journey. Your unwavering partnership has allowed CAHEC and affiliates the opportunity to make a material impact on those we serve. To that end, this report summarizes CAHEC’s accomplishments in 2025. I hope you find it informative and impactful.
Sincerely,
Dana Boole
President & CEO
