N.C. (WECT) – A newly rehabilitated home will hit the market this week through an affordable housing initiative spearheaded by a local nonprofit
Cape Fear Collective bought and rehabilitated the two-bedroom, one-bath house, located at 203 N. 11th St. in Wilmington, in 2022. The home is one of around 100 rental homes the organization has purchased to rehabilitate in the downtown Wilmington area.
Private investment fuels new innovative approach to create more affordable housing
Multimillion dollar investment by Cape Fear Collective aims to preserve existing affordable housing units
The nonprofit replaced the roof, HVAC, electrical, plumbing, insulation, windows, kitchen, bath and flooring in the home using a loan from the City of Wilmington.
Interested buyers should contact the listing realtor. To purchase the home, buyers must adhere to the following requirements:
- The household must earn at or below 80 percent of the HUD area median income for New Hanover County
- The buyer must live in the home
The home will be open for viewing to the public at 4 p.m. on Oct. 16, following a ribbon-cutting at 2 p.m. Staff from Cape Fear Collective and Cape Fear Community Land Trust will be at the open house to answer questions and take names of interested buyers.
The ribbon-cutting and open house are open to the public, and light refreshments will be available.
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