A foundation set up in 1988 to help Realtors in need has taken "Realtors" out of its name.
The Wilmington Realtors Foundation is now called the Housing Foundation of Southeastern North Carolina, which remains a 501(c)3 nonprofit organization. The organization continues to work on Pierson Pointe, a 48-townhome workforce housing project started by WRF, according to a news release.
"This change reflects the (foundation's) broader regional focus and deepened commitment to creating sustainable opportunities for homeownership across the southeastern region of the state," according to the release. "Since the foundation is not under the Realtor umbrella, it also made sense to eliminate the word 'Realtor' from the name."
In 2023, a foundation official described WRF's origins as "a small charitable organization founded to support fellow Realtors in times of need." The foundation previously had ties with Cape Fear Realtors, a regional Realtors' association based in Wilmington. In a 2021 news release about CFR's hiring of the association's chief operations officer, Stephania Bloodworth, CFR officials said she would be overseeing the Wilmington Realtors Foundation as one of her duties.
In a statement emailed to the Business Journal on Tuesday afternoon, CFR officials said, "Cape Fear Realtors has graciously provided in-kind administrative support to the Wilmington Realtors Foundation since it was founded. As the foundation's mission has evolved over the years, and with it their administrative needs, CFR’s support has also evolved. Cape Fear Realtors will continue to support the foundation’s endeavors and is optimistic about its success."
CFR officials also said the Realtors Helping Realtors program, a long-time focus of the foundation, "is currently being reviewed by the Cape Fear Realtors Board of Directors, with the hope of continuing to provide support for Realtor members in need."
John Smist, executive director of the Housing Foundation of Southeastern North Carolina, stated in the release, “Our new name better represents who we are and where we’re going. While our roots are in Wilmington, our mission now extends across multiple counties as we work to address the pressing housing needs of the broader community.”
Foundation project Pierson Pointe is set to be built on 6 acres in the 6200 block of Carolina Beach Road, and the foundation's release described it as "a transformative development that will provide homeownership opportunities for our workforce earning 80 to 120% of area median income." The development is in the process of getting local and state permits.
Last year, the foundation was awarded $1.2 million through New Hanover County's Workforce Housing Services Program and $650,000 from the New Hanover Community Endowment.
Jody Wainio, president of the foundation, stated in the release, “The Pierson Pointe project is moving full-speed ahead. We’re excited about the impact this development will have and the message it sends – that safe housing that doesn’t break the bank is a right, not a privilege.”
Wainio said once permits are obtained, she hopes Pierson Pointe's construction begins as soon as possible.
According to the foundation's website, Pierson Pointe is named in honor of John Ward Pierson, the founder of the organization, who came to Wilmington in 1967 and "was well-known and respected in the real estate field for over 51 years."
The foundation will continue partnering with local organizations, municipalities and residents "to deliver housing solutions that make a lasting difference," the release stated.
