FAQ on CAHEC's Affordable Housing Developments in the Southeast
Summary
What properties did CAHEC close in the second quarter of 2025?
CAHEC closed three properties: Lily Gardens in Staunton, VA, Gateway Double Creek in Florence, AL, and Renaissance Commons in Elizabeth City, NC.
How many affordable housing units were added by these developments?
A combined total of 146 affordable housing units were added across the three properties.
Who benefits from these affordable housing developments?
Families and seniors earning up to 30%, 50%, 60%, and 80% of the Area Median Income (AMI) in the respective areas benefit from these developments.
What features are included in the Lily Gardens Apartments?
Lily Gardens Apartments feature vinyl flooring, P-Lam countertops and backsplashes, appliances including a refrigerator and dishwasher, and bathroom features like tempered glass shower enclosures and medicine cabinets, along with a leasing office and fitness center.
Why is the Gateway Double Creek development significant?
The Gateway Double Creek development is significant because it updates 48 units of much-needed housing in a market with strong occupancy history and existing waiting lists, addressing the demand for affordable housing in Lauderdale County, AL.
What makes Renaissance Commons unique?
Renaissance Commons is unique as it provides essential housing for seniors in Pasquotank County, NC, with upgrades to an existing development, in a market showing continued demand and high occupancy rates for similar properties.
How does CAHEC contribute to affordable housing beyond these developments?
Beyond these developments, CAHEC invests in various tax credits, offers loan programs, wellness and education initiatives, affordable housing development, and property management services to support affordable housing and community strengthening.
Where can I find more information about CAHEC’s work?
More information about CAHEC’s contributions to affordable housing and surrounding communities can be found on their website at https://www.cahec.com/.
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