WILMINGTON, NC (WWAY) — The New Hanover Community Endowment’s (NHCE) Affordable Housing Investment Strategy will invest more than $14 million in 15 grants to support existing and future housing programs.
These grants mark the first investments based on the Endowment’s housing strategy unveiled earlier this year. The Endowment has invested almost $37 million in 2024.
“We’re excited to make these first investments to address affordable housing,” said Bill Cameron, chairman of the NHCE board. “This strategy is a collaboration between the Endowment and our housing partners. Our goal is to find lasting, transformational solutions.”
Recent studies indicate that 35% of households in New Hanover County are cost-burdened, spending more than 30% of household income on housing expenses. The Affordable Housing Investment Strategy aims to mitigate this crisis by supporting existing housing and preventing displacement, facilitating the production of new, affordable housing units, and exploring the creation of a capital impact program for future housing projects.
“I’m proud of this first step,” said Network Officer Terri Burhans, who oversees the community development pillar for NHCE. “And we have to recognize that housing is just one part of an eco-system. To solve this complicated issue, we’ll need to address everything from food insecurity to income disparities.”
The largest grant supports the Cape Fear Habitat for Humanity with new home construction and infrastructure in Haven Place, a Habitat development in Castle Hayne. Funding also supports infrastructure for Legacy Landing Phase II, a 14-unit townhome development.
“We’re committed to working on the affordable housing crisis,” Cameron said. “While these grants are a first step, we’ll continue to work with the community to explore solutions that enhance the quality of life in the New Hanover community.”
In addition to the investments in the housing strategy, NHCE made three grants as part of its rolling grants process to Better Is Possible, Coastal Horizons Center, and LINC. Better Is Possible’s funding expands a year-round mentorship and skills training program for healthcare career pathways. The Coastal Horizons grant provides matching funds to its permanent supportive housing program and funding for LINC supports its LITE program, which improves the educational environment for New Hanover County’s most vulnerable young learners.
Below is a summary of the New Hanover Community Endowment’s Affordable Housing Investment:
- New H.O.P.E. CDC: $ 3,060,000
- Cape Fear Collective (Block by Block Production): $ 837,000
- Salvation Army: $ 1,000,000
- Cape Fear Habitat for Humanity: $ 3,500,000
- Wilmington REALTORS Foundation: $ 650,000
- Cape Fear Community Land Trust: $ 200,000
- Eden Village: $ 300,000
- Financial Protection Law Center: $ 300,000
- Domestic Violence Shelter and Services: $ 594,619
- Coastal Horizons Center (Open House Youth Services): $ 600,000
- WARM NC: $ 600,000
- Cape Fear Collective: $ 900,000
- Good Shepherd Center: $ 1,655,000
- One Christian Network: $ 225,000
- Better Is Possible: $ 150,000
- Coastal Horizons Center: $ 200,000
- LINC: $ 200,000
For more information about the New Hanover Community Endowment, please visit nhcendowment.org