Following renovation, Driftwood apartment complex to reopen to support the homeless

WILMINGTON, NC (WWAY) –Three years after purchasing Driftwood apartments, Cape Fear Collective has announced the complex will reopen on July 25.

Driftwood is a 15-unit apartment complex dedicated to offering supportive housing for individuals with disabilities who have experienced chronic homelessness.

According to a news release, the $1.9 million acquisition and renovation of Driftwood marks a significant milestone for Cape Fear Collective, having acquired the property in 2021 and securing the necessary funds for extensive renovations to maintain its status as affordable supportive housing.

The property was originally built in 2003. The property faced the prospect of being converted into market-rate rentals before Cape Fear Collective intervened. With a $700,000 forgivable loan from the City of Wilmington’s affordable housing program, Cape Fear Collective rehabilitated the property.

“Driftwood’s reopening demonstrates the importance of Cape Fear Collective in connecting private and public funding to address one of the most complex problems communities face,”
said Cara Stretch, Chief Executive Officer of Cape Fear Collective.

Good Shepherd Center will provide on-site case management to support residents with daily living and facilitate access to community resources. The partnership ensures
Driftwood will continue to meet the critical needs of persons with special needs transitioning out of homelessness.

“We are pleased to collaborate with Cape Fear Collective and Norco to provide housing for our most vulnerable neighbors, who often struggle to secure and hold onto the housing and supports essential to leaving homelessness behind for the long term—and to enjoying the quality of life we would wish for all of our Cape Fear Neighbors,” said Katrina Knight, Executive Director of Good Shepherd Center.

Norco Management will oversee property management services.