NEW HANOVER COUNTY — Cape Fear Habitat for Humanity will be closing its Third Street ReStore in downtown Wilmington as it looks to purchase its Monkey Junction location this year.
The announcement was made Thursday and Cape Fear Habitat for Humanity noted the store will remain operational until the sale is complete. The sale will not include job loss or pay reduction of its employees.
In addition to selling the 1208 Third St. location, the nonprofit is also selling an adjacent property at 1211 S. Second St. Property tax records indicate CF Habitat for Humanity purchased the Third Street property for $375,000 in 1999 and the Second Street property for $55,000 in 2003.
Currently, the 6138 Carolina Beach Rd. property is being leased by the nonprofit, with the goal to close on it as well. It’s owned by commercial developer Piedmont Companies Inc., which purchased the location in 2021 for $1.5 million. Sale negotiations are underway for all transactions.
“This consolidation will strengthen our ReStore operations and allow us to invest more dollars into our core mission,” according to Cape Fear Habitat President and CEO Marlowe Foster, who recently took the position mid-February.
Foster ran for city council in 2023 and previously served as senior vice president for development at the Food Bank of Central and Eastern NC. He will oversee the nonprofit, which has helped more than 500 families in Pender, Duplin and New Hanover counties.
Homeowners who finish the program through Cape Fear Habitat pay low-interest mortgage rates and help build their homes. They commit 250 to 400 hours to its homeownership program, participate in financial counseling, engage in hands-on home maintenance classes and volunteer at ReStore locations.
The ReStores sell new and gently-used household goods, furniture and remodeling supplies, with funds helping offset administrative costs for the organization. All items available for sale at Third Street will move to the ReStore’s other locations in Ogden and Monkey Junction.
“Cape Fear Habitat is grateful to its committed ReStore customers and we want them to understand this is not a retreat from downtown,” Foster said in the release. “We are already looking at ways to continue to serve customers in the downtown market with other innovative and creative retail options.”
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