CAHEC Advances Affordable Housing in the Southeast with Three Key Developments
TL;DR
CAHEC's closing of three affordable housing properties offers investors and communities a strategic advantage by addressing the high demand for affordable living spaces in the Southeast.
CAHEC's approach combines new construction with acquisition and rehabilitation, ensuring 146 affordable units are available through detailed planning and community-specific income targeting.
By providing 146 affordable housing units, CAHEC significantly improves living conditions for families and seniors, fostering stronger, more inclusive communities across the Southeast.
Discover how CAHEC's latest projects, including Lily Gardens and Renaissance Commons, are transforming lives with modern amenities and sustainable housing solutions in underprivileged areas.
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CAHEC has made significant progress in addressing the Southeast's affordable housing crisis by closing three properties in the second quarter of 2025. These developments, totaling 146 units, are aimed at families and seniors earning up to 80% of the Area Median Income (AMI), broadening access to affordable living options.
In Staunton, Virginia, the Lily Gardens Apartments will add 50 affordable units, complete with modern amenities like a fitness center and leasing office. The Gateway Double Creek in Florence, Alabama, is seeing the rehabilitation of 48 units to meet the high demand, as indicated by existing waiting lists. Similarly, Renaissance Commons in Elizabeth City, North Carolina, has been upgraded to offer 48 essential housing units for seniors, a move supported by the 100% occupancy rate of similar properties in the market.
Greg Mayo, CAHEC's Vice President of Acquisitions & Risk, highlighted the organization's dedication to not only creating new affordable housing opportunities but also preserving existing communities. These efforts underscore CAHEC's pivotal role in building partnerships to tackle the increasing need for affordable rental housing across the Southeast.
Curated from 24-7 Press Release
