Bank of America has named Cape Fear Habitat for Humanity as its local 2024 Neighborhood Champion for its work to help families achieve affordable homeownership. 

As a Neighborhood Champion, Cape Fear Habitat for Humanity was awarded a $50,000 grant over two years, leadership training resources for the organization’s executive director, access to technical coaching and a national network of nonprofit peers. 

“Cape Fear Habitat for Humanity remains a vital community partner in helping to ensure families across our region have safe and affordable places to call home," stated Derek Cohen, president of Bank of America Coastal North Carolina, in a news release. “Bank of America is pleased to provide flexible funding and leadership training that support Cape Fear Habitat in their work to strengthen economic stability, advance upward mobility and make a lasting impact within our communities.” 

Cape Fear Habitat for Humanity has served 500 families in New Hanover, Pender and Duplin Counties. In addition to its Homeownership Program, which provides participants with training in preparation for owning and maintaining their own homes, Cape Fear Habitat also provides "critical home repairs to help preserve the value and livability of owner-occupied homes for very low-income families," according to the release.

The affiliate also manages three ReStore locations in Wilmington that sell new and gently used household goods, furniture and remodeling supplies. The ReStores also provide a Deconstruction Program that removes used cabinets, appliances, hardware and fixtures from homes free of charge. This new grant funding will support these programs.

“In New Hanover County, 35% of families spend one third or more of their income on housing, forcing difficult trade-offs on essentials like food, medical care, and other basic needs,” said Susan Kline, interim executive director of Cape Fear Habitat. “This funding will help families achieve financial stability and build generational wealth, creating lasting benefits for both their families and our community. It will also strengthen our leadership during the strategic planning process, ensuring the long-term success of our affiliate and enhancing our ability to serve the community more effectively.”

The invitation-only Neighborhood Champions program is highly competitive, with awardees selected by a committee comprised of community leaders and past awardees, according to the release. Since 2019, Bank of America has invested over $9 million in more than 200 nonprofits within more than 40 communities through the Neighborhood Champions program.

Past Coastal North Carolina Neighborhood Champions include: Kids Making It (2019), Voyage of Wilmington (2020), StepUp Wilmington (2021), Boys & Girls Clubs of Southeastern North Carolina, formerly known as Brigade Boys & Girls Club (2022) and Good Shepherd Center (2023).