Historic Ashe Hospital receives Charles L. Edson Tax Credit Excellence Award

WASHINGTON, D.C. — The Affordable Housing Tax Credit Coalition announced Aug. 24 that Historic Ashe Hospital in Jefferson, N.C., is a 2020 recipient of the Charles L. Edson Tax Credit Excellence Award in the Seniors category, recognizing affordable housing developments and organizations that have demonstrated especially impactful use of the Low-Income Housing Tax Credit (Housing Credit).

Announced each year from the nation’s capital, the awards honor Housing Credit developments that are strengthening communities, improving residents’ opportunity and boosting economies in urban, suburban and rural areas across the country. The awards come at a time when the COVID-19 pandemic and its economic impact have intensified the need for affordable housing, compounding the challenge facing at-risk families and individuals already struggling to pay rent.

“I am happy to congratulate Historic Ashe Hospital on winning the Charles L. Edson Tax Credit Excellence Award in the senior housing category. This honor rightly deserves recognition, and I commend the great work you are doing in our community,” wrote U.S. Senator Thom T. Tillis (R-N.C.) in a congratulatory letter. “Your selection for this highly competitive award signifies your commitment to enhancing and improving the quality of life in our state, and I thank you for serving our citizens with excellence.”

“The Housing Credit continues to spur development of affordable homes that go above and beyond for the families they serve,” said AHTCC Executive Director Emily Cadik. “The Edson Award winners this year demonstrate how innovative and high-quality affordable housing can transform communities and help meet the need for education, child care, health care and other services vital to a community’s support system for at- risk families and individuals.”

On the National Register of Historic Places, Historic Ashe Hospital is the renovation of an abandoned hospital, originally constructed in 1941 as a Works Progress Administration project, to provide 46 affordable homes for seniors, people with disabilities, and formerly homeless individuals. Developed by Northwestern Housing Enterprises, Incorporated, the Housing Credit was used to finance this property, with syndication provided by RedStone Equity Partners, LLC. Both State and Federal Historic Tax Credits were also utilized. The historic building includes a community meeting room with kitchen, computer room, library, and memory room containing artifacts from the original hospital. Wide hallways, tall ceilings and large windows remind the visitor of great public spaces of the past. The new construction wing echoes the historic features of the repurposed and fully renovated older structure. The site offers beautiful Blue Ridge Mountain views from outdoor courtyards, open air porches, a gazebo and covered pavilion.

Since 1986, the Housing Credit has financed more than 3 million homes for low-income households, including veterans, senior citizens, individuals with disabilities, essential workers, and families with children. Through public-private partnerships, the Housing Credit offers a proven track record of financing safe, decent affordable homes in communities where they are needed most.

“The Edson awardees highlight the creative and innovative solutions that exist to combat the nation’s lack of affordable housing,” said AHTCC President and WNC, Inc. Executive Vice President Michael Gaber. “As the impact of COVID-19 continues to create hardships for a growing number of families and working people across the country, now more than ever we need effective tools like the Housing Credit to provide stable, affordable homes.”

The developer for Historic Ashe Hospital is E.G. “Ned” Fowler , president, Northwestern Housing Enterprises, Incorporated.

For more information about the 2020 Edson Awards, please visit taxcreditcoalition.org/edson-awards/.