CAHEC has announced the closing of Northgate Place Apartments, a 56-unit affordable family housing community in Talladega, Alabama. The acquisition and rehabilitation project, effective July 1, 2026, aims to preserve long-term affordable housing opportunities for families in Talladega County, where demand for affordable housing continues to rise.
Northgate Place consists of seven two-story residential buildings offering one-, two-, and three-bedroom apartment homes for households earning up to 60% of Area Median Household Income (AMHI). Originally built in 2003, the property will undergo substantial renovations, including new roofs, windows, doors, cabinetry, flooring, HVAC systems, and appliances. Additional enhancements will include upgrades to the community building, new playground equipment, a covered pavilion, and improved outdoor gathering spaces.
This project represents CAHEC's first development partnership with Hollyhand Development, LLC. Sarah Hale, Acquisitions Manager at CAHEC, noted, 'CAHEC is excited to announce its first development partnership with Hollyhand Development, LLC to preserve 56 affordable family housing units at Northgate Place Apartments in Talladega, AL. ... the property will undergo a substantial rehabilitation, including upgrades to apartment interiors, building systems, accessibility features, and community amenities, ensuring it remains a vital housing resource for working families in Talladega County.'
The project addresses a significant housing need in Talladega County, where comparable affordable communities maintain full occupancy and waiting lists. By investing in Northgate Place, CAHEC and its partners are strengthening housing stability and supporting the long-term vitality of the Talladega community. The rehabilitation will extend the property's life and improve resident comfort and energy efficiency.
CAHEC, a community investment organization based in Raleigh, NC, and Columbia, SC, focuses on offering housing and life-changing opportunities throughout the Southeast and Mid-Atlantic. Its product areas include investing in low-income housing tax credits, historic tax credits, new markets tax credits, and renewable energy credits. CAHEC also provides loan programs, wellness and education initiatives for residents, affordable housing development, and property management services. For more information, visit CAHEC's website.
