Print
Nonprofit

Endowment Announces $14M In Housing Grants

By Emma Dill, posted Sep 30, 2024
The New Hanover Community Endowment announced on Monday plans to invest more than $14 million across 15 grants to support existing and future housing programs.

According to a news release, the grants are the first investments based on the endowment’s Affordable Housing Investment Strategy, which the foundation released in May.

The housing investment strategy has three key focus areas: stabilization, production and capital. The endowment faced criticism from nonprofit leaders and the public for not funding affordable housing in its $53 million December disbursement.

The largest grant supports Cape Fear Habitat for Humanity, funding new home construction and infrastructure in Haven Place, a Habitat for Humanity development in Castle Hayne. The endowment’s funding also supports the infrastructure for Legacy Landing Phase II, a 14-unit townhome development.

Other local organizations, including New H.O.P.E. CDC, the Salvation Army, Cape Fear Collective and the Good Shepherd Center, received top grant awards.

“We’re excited to make these first investments to address affordable housing,” said Bill Cameron, chairman of the NHCE board, stated in the release. “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 a third of household income on housing expenses, according to the news release. The endowment’s investment strategy aims to support existing housing and prevent displacement, facilitate the production of new, affordable housing units, and explore the creation of a capital impact program for future housing projects, according to the release.

“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.”

In addition to housing investments, the endowment 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.

The endowment was formed from the sale of the county-owned New Hanover Regional Medical Center to Novant Health in 2021, creating a more than $1 billion fund from the bulk of the sale proceeds. The endowment’s new CEO and President Dan Winslow is set to start with the foundation on Tuesday.

Find a summary of the New Hanover Community Endowment’s Affordable Housing Investments below:
  • 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
Ico insights

INSIGHTS

SPONSORS' CONTENT
Screenshot2022 01 06at338 162234623

Food is the Foundation for Prosperous Communities

Girard Newkirk - Genesis Block
Bovio ernie ceo 240207 head 712412398

Rest Easy With Novant Health; Our Team Is Ready To Care For You In Any Emergency

Ernie Bovio - New Hanover Regional Medical Center Novant Health
Untitleddesign12 11724100328

The Endowment’s Rainbow of Possibilities

Daniel B Winslow - New Hanover Community Endowment

In The Current Issue

Tourism Chief Notes Ongoing Trends

While air travel expansions flourished, some industry indicators began to lag in 2024, and tourism officials expect a "leveling off" trend t...


Recreation Plans Move Ahead

While the organizers of all the ventures hope to provide their communities with a variety of recreational opportunities, some projects are c...


ILM Biz Park On The Rise

For years, officials have eyed the land outside of the airport’s operations to attract businesses and economic development....

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2024 Power Breakfast: The Next Season