Cape Fear Collective Receives $12.1 Million in Affordable Housing Investments, Pilot Project Focuses on Non-Medical Community Needs

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Cape Fear Collective is a non-profit organization whose mission includes maintaining affordable housing in Wilmington. In 2021, CFC created Cape Fear Collective Enterprises — the program uses private investments to renovate properties or buy units when they become available.

Live Oak Bank, First National Bank and First Citizens are among the banks that contributed to the investment. CFC Acting CEO Meaghan Dennison said the new investment will allow Cape Fear Collective to continue to provide affordable housing and also open up home ownership opportunities.

“Our goal is to help some tenants become homeowners, if that’s the path they want to take, but at a minimum, improve the housing stock and preserve affordable housing,” she said. .

Cape Fear Collective also has a pilot called HOP, Healthy Opportunities Pilot Project under contract with Community Care of Lower Cape Fear. The program focuses on improving health outcomes and reducing health care costs in the areas of food, transportation, housing and interpersonal violence – and can tap into Medicaid funding for this. make.

Cara Stretch, who was recently hired as the new director of programs, says the pilot project will help Cape Fear Collective better understand the needs of the community.

“I think it’s going to end up being really valuable – how we use data to influence user policy. We just know that these social determinants of health are extremely important and actually improve the lives of people in our community,” said she declared.

Cape Fear Collective currently has over $16 million in investments, which translates to over 100 affordable housing units, the majority of which are in New Hanover County.

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