Avery Washington’s Transition from Traditional Brokerage to Development: A Veteran’s Vision for Affordable Housing
Avery Washington, a 12-year Marine Corps veteran and seasoned real estate investor, is making waves in the property development sector in Eastern North Carolina. With over a decade of experience in real estate and a proven track record as President of Continental-Ground, Washington’s journey from traditional brokerage to property development is a testament to his commitment to addressing the housing needs of underserved communities. His focus on creating affordable housing solutions in a challenging economic landscape sets him apart as an innovative and impactful developer.
A Strategic Shift in Focus
Avery Washington’s career in real estate began in traditional brokerage in 2019, following 12 years of service in the Marine Corps. Stationed in Jacksonville, North Carolina since 2011, he decided to stay in the area and leverage his deep local knowledge and military discipline in the real estate market. Initially working as a real estate agent dealing primarily with rental properties, Washington observed a critical issue: renters were often paying more in monthly rent than they would for a mortgage. This realization sparked his interest in property development, especially during the COVID-19 pandemic when he had the opportunity to educate himself extensively in this field.
The pandemic period, characterized by historically low interest rates, highlighted a significant gap in the housing market. Many individuals who could afford their rent were still unable to secure mortgages due to being labeled as high-risk borrowers. Washington recognized that the traditional housing market was not catering to these potential homeowners. As interest rates began to rise again, the affordability crisis worsened, further marginalizing this demographic. Motivated by a desire to create more accessible housing solutions, Washington decided to pivot from traditional brokerage to property development.
Addressing the Affordability Crisis
Washington’s transition to development was driven by a deep concern for the affordability crisis exacerbated by inflation and rising material costs. He identified a persistent challenge: despite low interest rates, many renters remained locked out of homeownership due to economic barriers. By shifting his focus to development, Washington believed he could directly address these issues and create tangible solutions for those underserved by the traditional housing market.
Under his leadership, Continental-Ground has managed the acquisition of over 40 fix-to-rent properties and tracts of land for development, utilizing both creative and conventional financing methods. The company currently boasts over $6.5 million in assets under management and is involved in the development of more than 300 housing units across central and eastern North Carolina. Washington’s strategic approach involves not just building properties, but creating value for the communities by ensuring affordability and accessibility.
Standing Out in the Industry
What sets Avery Washington apart in the property development industry is his unwavering focus on value creation and his commitment to addressing the housing needs of high-risk borrowers. Unlike many developers who prioritize profit, Washington’s primary goal is to provide shelter and meet the essential needs of underserved populations. His approach is grounded in sincerity, transparency, and a genuine desire to make a positive impact.
Washington’s development philosophy is centered around creating practical and useful housing solutions at the best possible prices. This focus ensures that his projects are not only financially viable but also socially beneficial. He treats every project with the seriousness and responsibility that comes with the possibility of personal consequences, a trait likely honed during his military service. This level of dedication and accountability is rare in the industry, making Washington a standout figure.
Continental-Ground’s current projects reflect Washington’s commitment to these principles. By focusing on developing affordable housing units, he aims to provide high-risk borrowers with opportunities to achieve homeownership, a critical step towards financial stability and community development. His direct and honest communication style, combined with a hands-on approach, ensures that all stakeholders are aligned with his vision and objectives.
A Veteran’s Vision for the Future
Avery Washington’s journey from a traditional real estate broker to an emerging property developer is marked by a clear vision and a steadfast commitment to social responsibility. His military background has instilled in him a strong sense of discipline, integrity, and service, which he has seamlessly integrated into his real estate endeavors. By focusing on the needs of high-risk borrowers and creating affordable housing solutions, Washington is not only transforming the property development landscape in North Carolina but also setting a new standard for what it means to be a socially conscious developer.
As Continental-Ground continues to grow and expand its portfolio, Washington’s leadership will undoubtedly drive further innovation and positive change in the housing market. His efforts to bridge the gap between rental affordability and homeownership provide a beacon of hope for many underserved individuals and families. Through his work, Avery Washington exemplifies the impact that dedicated, value-driven development can have on communities, making him a rising star in the industry and a catalyst for lasting change.
