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"You won't be able to build your way out of this," Terri Burhans tells the Star-News of Wilmington, NC, where 35% of households are cost-burdenedmeaning they spend more than 30% of their income on housing.
Burhans is the network officer for community development at the New Hanover Community Endowment, which has allocated $19.1 million to address the county's affordable housing crisis.
The money will go toward helping to rehabilitate existing properties and build new ones, as well as creating a fund to provide low-cost capital for development projects that include affordable housing.
The investment is part of a $1.3 billion endowment created by the New Hanover County Board of Commissioners after the sale of the New Hanover Regional Medical Center to Novant Health in 2020.
"Our residents deserve a path to safe, stable, and affordable housing, and we're eager to be part of the solution," Chris Boney, chair of the NHCE's Grants committee, says in a press release.
The affordable housing crisis is being driven by land prices and the coastal region's "desirability," which Burhans says has led to higher housing costs.
By 2032, studies show the county will need more than 12,000 new rental units and nearly new 17,000
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
Haril Kazindra and wife Andrea are the co-founders of Musana, a community development NGO that runs 19 social enterprises across Uganda.Musana has offices in Denver and London and employs 700 staff,...more
Foundation: Lilly Endowment
All In Kosciusko exists to promote and accelerate the economic and community development already happening across the county.Concerns about economic diversification, talent retention and quality of...more
The Bill Gatton Foundation supports K-12 and higher education, health, and community development in Kentucky, Upper East Tennessee, and Southwest Virginia.Large education grants include $13.5 million...more
Local organizations win $9 million for new affordable housing, social services.Connecticut's Community Investment Fund grants come amid a deluge of cuts to federal funding.The fund was established in...more
Foundation: Parasol Tahoe Community Foundation
Parasol Tahoe Community Foundation has proudly supported Bread & Broth for the past 10 years.In 2024, the Community Foundation was able to introduce the mission of Bread and Broth to a donor who is...more
Foundation: Latino Community Foundation
Latino Community Foundation Awards $3.88M in Grants Across California and Nevada.NewsBreak: Latino Community Foundation awards $3,000,000 in grants across California andNevada.Newsbreak: $1.5 million...more
Alejandro Betancourt Lopez rejects traditional corporate social responsibility models that separate business operations from community impact.Rather than limiting community engagement to corporate...more
Thoughtful giving isn't just about making a donation, it's about creating meaningful impact.Community foundations exist to connect generosity with need, ensuring that charitable giving is both...more
Kareem Thomas most recently served as Chief Credit and Lending Administration Officer at Reinvestment Fund.Bhavani Daryanani has more than 20 years of experience in the sector, bringing deep...more
SECU Foundation has been named a recipient of the 2024 Carolinas Credit Union Foundation Hero Award for Partner in Philanthropy.The SECU Foundation promotes local community development in North...more
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