Supporting Homeownership Throughout the Southeast: Three Nonprofits Receive CAHEC Open Doors Homeownership Grant

    RALEIGH, NC, October 31, 2023 /24-7PressRelease/ -- Since 2004, CAHEC has offered an Open Doors Homeownership Grant to assist nonprofit organizations that develop for-sale affordable housing within our footprint. To date, CAHEC has awarded $810,000 towards this homeownership initiative to help provide housing to families earning 80 percent or less of the area median income. This year, the area of focus for our funding was to assist nonprofit developers in making universal design adaptations for elderly and/or special needs households. As our team of grant readers reviewed the applications, we evaluated how each organization addressed resident needs, the positive impact the work would have on the community, and the long-term results of their efforts. We are excited to announce the recipients of CAHEC's 2023 Open Doors Homeownership Grant:

Asheville Area Habitat for Humanity - $25,000
Founded in 1983, Asheville Area Habitat for Humanity (AAHH) was the first habitat affiliate in North Carolina. Since then, AAHH has built more than 375 new, energy-efficient homes and repaired more than 550 existing homes, helping over 2,200 adults and children improve their housing. In 2019, they launched an Aging in Place (AIP) initiative to address Asheville and Buncombe County's need for affordable housing options accessible to people of all ages, and housing that enables all people to age in place in their communities. AAHH will be using its funding to make improvements to four AIP townhomes, which includes extending the back roof over the porch slab to improve water drainage; installing a pocket door for each bathroom to alleviate rescue concerns, knob operation, access, and storage; replacing the over-the-refrigerator microwave with an exhaust hood; replacing the attic hatch access to pull-down stairs; HVAC upgrades; and shower design accommodations to reduce slipping and safer access.

Hanover and King William Habitat for Humanity - $15,000
For the last 30 years, Hanover and King William Habitat for Humanity has been building homes alongside families, encouraging them to achieve the strength, stability, and independence they need to build a better life in Virginia. In 2017, they implemented a Critical Repairs Program, which helped homeowners with roof and rotten floors replacement, and upgrades to windows, doors, water heaters, and more. With the rising cost of housing, they're seeing more seniors aging in place who live on a fixed income and have no financial means to pay a contractor themselves, and showering safely has been one of their biggest concerns. With our funding, they will be completing modifications and repairs to two homes, which includes the installation of walk-in showers, grab bars, easy-to-use faucets, handheld shower heads, and shower chairs.

But God Ministries - $10,000
But God Ministries was originally created in 2011 to respond to the earthquake in Haiti that left millions without homes. After having much success with construction there, they decided to bring that back to their home state of Mississippi to provide housing in its most impoverished areas. In 2015, they broke ground on a 6,000-square-foot building that is now known as the Hope Center, which houses their administrative offices and lodging for 40 people. The lodging is used for short-term mission teams to have a home while serving alongside the community. Through their various service initiatives, they often learn about wheelchair-bound residents who are in desperate need of a ramp for their home. However, this is often something they do not have the budget for. With CAHEC's funding, they'll have the resources to build three wheelchair ramp/deck combinations for residents living in Jonestown, MS.

CAHEC ranks as one of the largest nonprofit equity syndicators in the U.S. They aim to provide sustainable communities by offering housing and life-changing opportunities to their residents by investing in qualified tax credit products throughout the Southeast and mid-Atlantic states. Their products and services include low-income housing tax credits, historic tax credits, new markets tax credits, renewable energy credits, loan programs, community investments, affordable housing development and preservation, and property management. To learn more about their contributions to affordable housing and surrounding communities, visit CAHEC's website.

# # #