RALEIGH, N.C. – The Community Affordable Housing Equity Corporation (CAHEC) presented five awards at its annual Partners Conference on June 9, honoring individuals and organizations for their dedication to affordable housing and community development. The awards were given during the conference's Awards Luncheon in downtown Raleigh, recognizing achievements across development, resident leadership, community impact, investment, and lifetime service.
Valley River Apartments in Murphy, North Carolina, received the Development of the Year award. Completed in 2025, the 56-unit affordable housing community for families was developed by Western North Carolina Housing Partnership (WNCHP) and FGM Development, LLC. This project marked a milestone for Cherokee County, as it was the county's first Low-Income Housing Tax Credit (LIHTC) award in a decade and the first new-construction LIHTC development in 26 years. CAHEC's investment in Valley River represents its seventh partnership with WNCHP and tenth with FGM Development.
Piok Chier, a high school freshman living at Partridge Pointe Apartments in Louisville, Kentucky, received the Resident Spotlight Award. Piok has been instrumental in resident programming through CAHEC's partnership with the local YMCA, helping coordinate weekly youth activities such as soccer camps and educational events. He also volunteers with the Chestnut Street Family YMCA Summer Camp, participates in the Men of Quality program, serves on the Black Achievers Teen Senate, and volunteers with Kentucky Refugee Ministries.
The North Florida School of Special Education (NFSSE) in Jacksonville, Florida, was honored with the Outstanding Community Impact award. In 2019, CAHEC New Markets allocated $10.25 million in New Markets Tax Credits (NMTC) to expand NFSSE's campus. Serving about 248 students and more than 100 post-graduates with intellectual and developmental differences, NFSSE has achieved a 56.2% job placement rate through its vocational training programs. The school also operates a therapeutic equestrian center and social enterprises like Berry Good Farms, and uses a reverse inclusion model to integrate students with and without disabilities.
First Bank, headquartered in Southern Pines, North Carolina, was named Investor of the Year. Over 15 years, the bank has invested more than $34 million across nine CAHEC-sponsored funds and has served as a construction lender on several CAHEC-syndicated developments. First Bank has grown from about $1 billion in assets to more than $12 billion and operates over 100 branches in the Carolinas.
Steve Rosenblatt received the Lifetime Achievement Award for his decades of work in affordable housing. Starting in the mid-1970s, he managed a Rural Development housing portfolio and later became a leading trainer, founding Spectrum Seminars in 1986 and establishing the Rural Development STAR designation. He developed the C3P Section 42 training program and founded Spectrum Compliance in 1991, which now employs nearly 40 professionals and is nationally recognized for tenant file reviews and compliance auditing. Rosenblatt has trained tens of thousands of housing professionals and contributed to numerous events by the North Carolina Housing Finance Agency and CAHEC.
These awards underscore the importance of collaboration and innovation in addressing affordable housing needs. For leaders in business and technology, the recognition of projects like Valley River Apartments highlights the role of tax credits and public-private partnerships in developing critical infrastructure. The emphasis on resident programming and community impact, as seen with Piok Chier and NFSSE, demonstrates how housing investments can extend beyond shelter to foster education, vocational training, and social inclusion. First Bank's growth alongside its affordable housing investments illustrates the potential for financial institutions to align profitability with social impact. Steve Rosenblatt's career-long dedication to education and compliance sets a standard for professional development in the industry.
CAHEC is a community investment organization based in Raleigh, NC, and Columbia, SC, investing in low-income housing tax credits, historic tax credits, new markets tax credits, and renewable energy credits. It also provides loan programs, wellness and education initiatives, and property management services. More information is available on CAHEC's website.
