Raise closed, search for fresh raises on Seedstage

Jacksonville, NC

Raising funds to develop affordable housing units across southeastern North Carolina.

• Mission-driven leadership: Founded by Marine Corps veteran with extensive real estate experience.
• Strategic partnerships: Collaborating with Strong Rock and JMK Developers for high-quality execution.
• Phased approach: Development divided into shovel-ready, build-ready, and move-in-ready stages.
• Critical market need: Addressing the severe shortage of affordable housing in North Carolina.
• Flexible exit strategies: Mitigating risks with multiple funding-dependent project phases.

MCG is raising funds to address the critical shortage of affordable housing in southeastern North Carolina by developing over 500 housing units across three strategic sites. Founded by Marine Corps veteran Avery Washington, MCG leverages a vertically integrated approach to streamline construction and deliver quality single-family and multi-family homes at competitive prices. The funding will support phased development, including site preparation, construction, and delivery of shovel-ready lots and move-in-ready homes. This initiative aims to meet the high demand for affordable housing while ensuring cost efficiency through strategic partnerships and eliminating unnecessary mark-ups at each stage.

With extensive experience in real estate and asset management, MCG has a mission-driven approach to creating sustainable housing solutions. The project phases are designed to maximize flexibility and value, offering multiple exit strategies to mitigate risks for investors. By partnering with established firms like Strong Rock and JMK Developers, MCG ensures high-quality execution throughout the development process. The funds raised will empower MCG to execute its vision of providing much-needed housing solutions in a region where only 21% of new construction is affordable for middle-income buyers.

Company Info

MCG is a real estate developer addressing the affordable housing shortage in North Carolina with a vertically integrated approach and strategic partnerships.

MCG is a real estate development company focused on addressing the affordable housing shortage in Onslow County, North Carolina. Founded by Marine Corps veteran Avery Washington, MCG aims to produce affordable single-family homes and multi-family units across three sites in the region. With over 12 years of experience in the Marine Corps and nine years in real estate, Avery brings a mission-driven approach to the company, overseeing assets valued at over $6.5 million. MCG is employing a vertically integrated development strategy that minimizes costs by eliminating mark-ups at each stage of the construction process, ensuring high-quality homes at competitive prices.

The company plans to build over 500 housing units across the three sites, with development occurring in phases: shovel-ready, build-ready, and move-in-ready. MCG is partnering with civil engineering and surveying firm Strong Rock and JMK Developers for site preparation. Each project phase is designed with flexible exit strategies, allowing MCG to navigate challenges like rising construction costs and high interest rates. By targeting the severe housing shortage in North Carolina, MCG aims to provide affordable homes for middle-income buyers and capitalize on strong demand.