Greater Fayetteville Business Journal - February 10, 2023 Issue

With tax season already here, accountants and CPA professionals are working around the clock to continue to provide top rate services to their clients.

After seeing unprecedented growth over the past few years, Fayetteville based accounting firm TRP Sumner PLLC has made the strategic decision to expand their team beyond U.S. borders by adding new employees in Manila, Philippines.

TRP Sumner Chief Executive Partner Kelly Puryear confirmed that a shortage in qualified accountants and CPAs both locally and nation-

PHOTO PROVIDED BY: TRP SUMNER

The Manila team works the same hours as the Fayetteville team, and are able to -virtually- attend office events like the 2022

party.

>> By Stephanie Meador

New name, new tenants

LOCAL DOWNTOWN LANDMARK HAS NEW NAME: DOGWOOD STATE BANK CELEBRATES GRAND OPENING OF FIRST FAYETTEVILLE LOCATION

Anew company is taking up residence in one of Downtown Fayetteville’s most recognizable buildings.

At the end of 2022, the owners of the 11-story sky rise downtown, formerly known as the Systel Building, announced that a new anchor tenant would take residence in the building. On Feb. 6, Dogwood State Bank held a ribbon cutting ceremony to celebrate the opening of their Fayetteville branch in this iconic downtown location.

Dogwood State Bank, a North Carolina state-chartered community bank, is proud to announce the opening of its newest location in Fayetteville, NC. The full-service branch, located at 225 Green Street, continues the bank’s vision of revitalizing community banking through the development of long-lasting relationships.

“As a Fayetteville native, I am proud to welcome Dogwood State Bank to my hometown,” commented CEO Steven W. Jones in a press release. “Our local team also has deep roots in this community, and we are thrilled to have their expertise as a part of the Dogwood State Bank family. We are delighted to partner with Allison Capital Partners on the naming rights of this new location and we look forward to welcoming new and familiar faces to our local branch. The entire Dogwood team is proud to bring community banking back to Fayetteville in an iconic location in this community.”

Representatives from the Fayetteville Chamber of Commerce, local officials, bank leadership and others all gathered together to celebrate the historic building’s new tenant.

“Dogwood State Bank strives to be the best community bank in the Carolinas, and it picks its markets to expand into by finding the right people and the right bankers in those markets,” shared Dogwood State Bank’s Regional President for Eastern North Carolina Greg Reames.

“...how grateful I am to work for a bank and an organization that is so, just laser focused on community and customer service. It’s a breath of fresh air to work with people that, every day, it’s… ‘How do we take care of our customer?’”

Following the ribbon cutting ceremony, guests were invited to walk across the street to view the new Dogwood State Bank sign that adorns the top of the building as the

owners proudly lit it up.

“This building is just so well known. It’s definitely a landmark in the city [and] in eastern North Carolina…what better place to have your

sign [than] on the tallest building in the town,” commented Reames. “We’re going to make sure that you’re going to be proud to call this the Dogwood State Bank building.”

CEO of the bank Steven W. Jones was also present to celebrate the expansion. Jones shared fond memories of the building during his opening remarks as well as his joy to represent and work for such an honorable company.

“My first job was here in this building in 1991. So, to kind of come back full circle and to call this the home of Dogwood is so special,” said Jones during his welcome speech. “I’ve been doing business in Fayetteville in the community for the better part of 32 years now, and to have the team that we have here…top notch, and when you think about bringing community banking back to Fayetteville… having Dogwood State here for the small business owners is, I mean, I couldn’t be more proud. I'm getting a little choked up even talking about it. I’m so excited.”

Dogwood State Bank is traded on the OTC under the symbol DSBX.

Currently, they are also raising private capital. CEO Steven Jones confirmed that this is their fourth round of raising private capital. He shared some details about the fantastic support they’ve been able to garner through these efforts.

“Our first one was $100 million. And then our second round was $28 million. And then we did $12 million last year. And we’ve had a goal of doing $10 million this year, and we’re already at $19 million. We’ll probably go to about $20 [million], but we've only been at it a week,” said Jones.

Jones is happy to report such successful numbers, and chalks these up to the company’s brand.

“The demand has been robust. It’s just a testament to our brand and what we’ve built here in the community and communities that we operate across the state, and so we’re excited about it” shared Jones.

Dogwood State Bank’s new physical location in Fayetteville is officially open to customers new and old.

PHOTOS PROVIDED BY: GFBJ

Above: The former Systel Building now has a new logo along the front and solitary dogwood flowers on both sides of the building.

Below: The Bank hosted a limited gathering of partners and local media along with representatives from the Fayetteville Chamber to celebrate the new facility.

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MARKETING CONTENT

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ACCOUNTING

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The Greater Fayetteville Business Journal is published twice a month throughout Fayetteville and the Cumberland County region. News related to the region’s business sector is posted daily at bizfayetteville.com.

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Live and learn

OBSERVING CONSUMER RESPONSES TO CORPORATE DECISIONS REMAINS ONE OF LIFE’S SMALL PLEASURES

If there is one thing I find joy in, it’s the cycle of watching a major corporation announce a major policy change, an adjustment to a rule, or choose to implement a decision, and then immediately backpedaling when the public’s response is not what they thought it would be.

The most recent example I can think of is Netflix’s decision to limit password sharing, and the absolute public thrashing they received over it.

For anyone who may not be in the know, in October of 2022 streaming giant Netflix announced that they would be changing their policy regarding password sharing, and instead would be charging people to share a single account. In a letter to shareholders, the company said that password sharing was a practice common in over 100 million households and that it “Undermines our ability to invest and improve.”

I think that anyone who has used Netflix in the past year can confirm that sharing passwords was not the thing that was taking the company down. In fact, if we listen to consumers, I’m pretty sure the increase in streaming competition, limited content, Netflix’s decision to cancel

a number of its original programs after just two seasons regardless of popularity, and the most recent price increase following the cheaper ad supported plan (you know, adding the very thing people turned to streaming to avoid) is what was making them lose subscribers. Now, to add in the announcement that despite people already paying to be able to watch Netflix on multiple different screens at the same time, I guess you could see how there was a ramp up to the absolute outcry they received by adding yet another stipulation to be able to use their service.

The first week of February, Netflix posted the new guidelines. By tracking your IP information on digital devices, users would be required to log in to their “home Wi-Fi” once every 30 days to be able to access their account. Now I’m sure I don’t have to tell you, dear reader, why this could be a problem for college students, those who are deployed, or anyone who travels frequently.

Within days “Cancel Netflix” was trending across social media. My family began to rearrange our streaming bartering system to account for a loss of Netflix (It wasn’t hard), and people were saying good-

bye and announcing their decision to cancel on every social media post made by the company.

If there is one thing consumers like, it’s convenience, affordability and entertainment, and Netflix was providing none of those things. Less than 48 hours later the company claimed that the rules were posted by mistake, and that they would only be affecting account holders in Chile, Costa Rica, and Peru, and that they went live in other countries by mistake.

Consumers have realized how much buying power their limited expendable income truly holds. While it is unclear if these rules will ever reach the U.S. following this debacle, consumers are getting a taste of what speaking with money can do.

As AMC Theatres announce a plan to begin charging by seat location in their movie theaters, I can’t wait for next week’s episode of “You Aren’t Owed Our Money, American Customer Edition.”

JESHOOTS COM/UNSPLASH

Streaming giant Netflix is in hot water with consumers after announcing changes to their password sharing policies.

7:30

OUR ECONOMIC FUTURE

In the past nine years, Abernathy and his team have worked on 146 projects in more than 20 states and internationally. He currently serves as economic advisor to the Council of State Chambers and previously held a similar position to the Southern Governor’s Association.

The Ralph and Linda Huff Orangery Cape Fear Botanical Garden Fayetteville, NC 28305

Ted Abernathy, a nationally respected economic strategist based in North Carolina, will talk about the Fayetteville region’s competitive strengths and weaknesses as well as how the changing landscape in global trade, technology and demographics will impact our community in 2023 and beyond.

TED ABERNATHY Managing Partner Economic Leadership

Ted Abernathy is the Managing Partner of Economic Leadership, which helps communities and other clients analyze competitiveness, develop strategies and reimagine the future.

From TRP SUMNER PLLC, page

1

wide is what led to the decision to add on team members overseas.

“It’s really difficult for us to find enough people and so that’s why we’re using this option as well. NC State graduated a little over 100 people in December, all 100 of them went to about six firms, all national firms,” said Puryear. “We’ve gotten as many graduates of local universities as we can get, but we still need others and whatever CPA firm you call will tell you the same thing. It doesn’t matter which states you call in, they all have that problem, so this was a good solution.”

In order to ensure these new team members were up to company standards and practices, TRP Sumner partnered with a company in the Philippines that hires and confirms the qualifications of the people applying. The company provides background checks, conducts interviews with applicants and helps TRP Sumner by managing the different Human Resources needs of workers in a different country and culture.

Three employees currently make up the Manila team: Janine Gaces, Aira Villareal and Jocelyn Buid. All three have 4 year degrees in accounting, a minimum of two years of experience and speak fluent English. Their Philippines office is located on the 24th floor of the IBM building in Manila.

With security of the staff and client information being one of the highest priorities for TRP Sumner, the Firm implemented protocols that go beyond what is required by the Internal Revenue Service with companies contracted to provide both physical and cyber security for their workers.

Puryear traveled to Manila in 2022 to meet the team and see the building for himself.

“There is security at the front door [of the building] and then security at the front door of the office, so physically it’s secure. [For] cybersecurity, it’s a secure bay, there’s also this company there that provides the cybersecurity and there’s an IT per-

son on site, making sure that things are safe,” said Puryear.

According to a statement from TRP Sumner, the technical security of the computers and cloud-based software is as secure as the servers located in U.S. offices, and the system has a designated server set-up that is also closely monitored by TRP Sumner’s local IT team.

One of the main highlights of the expansion offered by Puryear, is that this process is not a form of outsourcing. Despite the 12 hour time difference and being more than 8,000 miles apart, the Manila team is still a

that we have that work in Florida or Texas,” said Puryear.

“Once they're on board, we treat them just like we do any other new staffers because they’re essentially the same thing. The only difference is that their supervisors may be a Manila [based] person and then they have perhaps someone in Fayetteville and they may have someone in the Dunn office, so they’re training several people at one time. The Manila folks are just team members at this point.”

TRP Sumner is continuing to follow guidelines set by the IRS, includ-

part of the Fayetteville TRP Sumner staff. The Manila team works the same hours as the Fayetteville office and are easy to connect with through phone and video call.

“I don’t consider it outsourcing, because it’s our office. Outsourcing to me means ‘we’re sending you the information and you, the company, picks who does it and sends it back to us.’ We have an office in Dunn, we have some people that work around the country, these folks are just a little bit further away than the people

ing complete client transparency with who is handling their information.

The IRS requires every CPA firm that employs workers outside the U.S. to disclose this to their clients before work begins. Puryear said that every client is given the necessary disclosures and given the choice to continue with the Manila team, or have their services done by a staff member in the U.S.

According to Puryear, the client response has been mixed, but a majority of their base has been reacting

with understanding and are willing to work with the new team.

“I didn’t know what to expect with the response, and familiarity is always better, my opinion changed when I went and met them. When you get to know people, people are just people,” said Puryear. “But, we gave it to our clients and we’ve had responses ranging from ‘Gee, this is brilliant,’ and we’ve had clients say ‘there's no way that I want anybody outside of Cumberland County working on my work much less somewhere like that,’ so we’ve had the full range of responses. However, the response has been overwhelmingly ‘Yes.’

After being deemed a reliable, efficient and cost-effective way to serve their expanding client needs, Puryear said there is the possibility of expanding the Manila team in the future, but there are no plans to add onto their staff with employees in other countries.

“They’re integrated into our team just like everyone else. Just like every other new person that comes in, we’re training them with those people, they just happen to sit a little bit further away than everybody else,” said Puryear.

PHOTOS PROVIDED BY: TRP SUMNER (Above from left to right) Kelly Puryear pictured with Manila team members Aira Villareal and Joy Buid in front of the IBM office building in Manila, Philippines.

(Below left to right): Manila team members Joy Buid, Janine Gaces, and Aira Villareal at their work stations in Manila.

I don't consider it outsourcing, because it's our office.... We have an office in Dunn, we have some people that work around the country, these folks are just a little bit further away than the people that we have that work in Florida or Texas.”

— Kelly Puryear

TRP Sumner Chief Executive Partner

PHOTOS PROVIDED BY: TRP SUMNER

All members of the Manila team have 4 year degrees in accounting, a minimum of two years of experience and all speak fluent English.

ACHIEVERS

Johnson joins local credit union board

BRET JOHNSON has been named to the Board of Directors at Bragg Mutual Federal Credit Union. Johnson currently serves as Chief Financial Officer for Cape Fear Valley Health and has been with the organization since April of 2021.

“Mr. Johnson brings a wealth of knowledge and expertise to help propel Bragg Mutual forward in 2023 and beyond. His leadership – both as a Bragg Mutual member and as a board member – will prove invaluable to help create the ultimate financial experience for our communities,” said Bragg Mutual President and CEO Steve Foley in a press release.

“The board welcomes Mr. Johnson and we are excited to work with him to help write the next chapter in Bragg Mutual’s legacy of helping this community,” said Board Chairman John Szoka in a press release.

Bret Johnson has more than 32 years of healthcare experience. Prior to Cape Fear Valley Health, he spent 23 years with Roper St. Francis Healthcare in Charleston, S.C., where he served as director of finance before becoming senior vice president and CFO in 2005.

Johnson also spent eight years with a multi-national public accounting firm in Charlotte, N.C. working with clients in healthcare, banking and real estate.

Johnson holds a degree in accounting from the University of Iowa.

Bragg Mutual Federal Credit Union is a member-owned financial cooperative providing financial services to approximately 11,400 members with three offices in Fayetteville, one in Spout Springs, and one in Kenansville, North Carolina.

FCEDC welcomes Simpson as new Director of Marketing and Communications

Fayetteville Cumberland Economic Development Corporation is pleased to announce that MERICA SIMPSON has been named Director of Marketing and Communications. Simpson will serve as the direct lead for the development and deployment of FCEDC’s marketing and communications efforts.

“I’m honored to be joining a team so dedicated to our community’s progress. The continuous promotion of our ongoing advancements is key

bizfayetteville.com

What are you and your peers achieving? Have you reached a new goal? Have you acquired another business? Maybe your business has a new hire you would like to highlight.

accomplishments.

To nominate someone for GFBJ’s Achievers section, email editor@bizfayetteville.com with the subject line “Achiever.”

to enhancing overall growth,” Simpson said in a press release.

Simpson graduated from East Carolina University’s College of Business with a marketing-concentrated MBA and a Bachelor of Science degree in business administration, specializing in finance.

Simpson found her passion for marketing through positions she’s held in marketing management and research. She has also worked in wealth management and as a graduate assistant, focusing on the cultural environment of international business.

“Merica’s unique background and education are a great addition to our highly skilled team,” said FCEDC President and CEO Robert Van Geons, CEcD, in a press release. “Our staff is proud to share our 'Can Do' story and looks forward to the contributions she will make towards these efforts.”

Lumbee Guaranty Bank CEO Kyle R. Chavis appointed to Board of Directors

Lumbee Guaranty Bank CEO KYLE R. CHAVIS is expanding into a second leadership role after being appointed to serve on the Bank’s Board of Directors.

Chavis has more than 30 years of experience in banking, including 23 years at Lumbee Guaranty Bank. Prior to his appointment as CEO, he served as Executive Vice President and Chief Credit Officer of the Bank. His past experience includes a variety of roles with Wachovia (now Wells Fargo) and Triangle Bank. Mr. Chavis earned a B.A. in Business Management, with a concentration in Finance, from North Carolina State University and a

M.B.A. from UNC-Pembroke. He also completed graduate schools in banking at Louisiana State University and through the North Carolina Bankers Association.

“Kyle will have an invaluable impact on our Board,” said Sybil Bullard, the Bank's Board of Directors Chair in a press release. “As CEO, he brings a unique perspective in representing the best interests of our shareholders and our customers.”

Chavis also serves on the Board of Directors of the N.C. Bankers Association and Community Bankers Bank, a regional correspondent bank serving customers throughout the southeast. He recently completed a three year term on the Minority Depository Institutions Subcommittee of the FDIC's Advisory Committee on Community Banking.

In the Lumberton community, Mr. Chavis has served as a Trustee of Robeson Community College since 2014 and is currently Chairman of the UNC-Pembroke Foundation Board. A past Trustee of Scotland Health Care System, he still serves on the organization's Finance Committee. He is active in his church, in Kiwanis of Robeson-Lumberton, and with various other community and civic organizations.

City of Fayetteville announces new PIS

The City of Fayetteville communications team continues to expand following the announcement of the newest Public Information Specialist DEVON SMITH

Devon is making a switch from the Office of Marketing and Communications at Elon University as the Communications Specialist for Inclusive

Excellence. Smith has more than 12 years of education and experience in communications and multimedia production, including five years with the City of Greensboro. Devon was raised in Fayetteville and graduated from Douglas Byrd High School in 2010.

Westover High School teacher Dr. Julia Little awarded Governor’s Educator Discovery Award

North Carolina Governor Roy Cooper announced in late January that Westover High School Science teacher, DR. JULIA LITTLE was one of five educators awarded this year’s Governor Educator Discovery Award.

The award is a stipend of up to $1,000 awarded to Pre-K traditional public and public charter school teachers. Little is one of five teachers across the state receiving funding to pursue a professional development experience of their choosing.

Little will be traveling to Iowa State University for the Research Experience for Teachers program in Summer 2023. The RET program is a National Science Foundation opportunity to provide teachers with research experiences and allow them to create ongoing relationships with career scientists. Through this program, teachers engage in 35 hours a week of research in a variety of STEM topics and leave the program with a thought-out lesson plan that translates the learning they did into viable activities for use in the classroom.

“I became a lateral entry teacher later in life to encourage students to go into STEM fields, and I really enjoy teaching my science subjects,” shared Little.

Teachers had to submit a proposal with details about their teaching experience, the professional development activity they wish to pursue, and how it would enhance their efforts to create work-based learning activities for their students. These applications then go through a rigorous review process and are narrowed down to select the winners.

“Our teachers work hard to nurture our students, and it’s important that

Greater Fayetteville Business Journal wants to hear from you and your business to shine a spotlight on your

Johnson

Simpson Chavis

Little

Smith

From ACHIEVERS, page 8

we support their professional development,” Governor Cooper said in a press release. “This funding will help educators learn new skills to bring back to the classroom that will help students prepare for the jobs of the future.”

This was the ninth cycle of teachers to receive the award since its inception in 2019. With a growing interest shown in the program each cycle, the program has been able to expand, bringing the total number of grants awarded to twenty-nine. The next cycle of the Governor’s Educator Discovery Award opened on Jan. 30.

UNCP professors Rivera, Robinson recognized with Distinguished Service Award

UNC Pembroke professors MABEL RIVERA and GRETCHEN ROBINSON are being recognized for their years of service beyond the classroom as advocates for individuals with disabilities across the state.

Dr. Rivera is the recipient of the

2023-2024 Distinguished Service Award from the North Carolina Council for Exceptional Children. Dr. Robinson has been awarded the Distinguished Service Award for the NCCEC Division of Teacher Education.

Rivera and Robinson will be honored Feb. 17 at the 36th Council for Exceptional Children conference.

“Drs. Rivera and Robinson are accomplished leaders who have positively impacted the lives of students throughout their careers,” said Dr. Loury Floyd, dean of the School of Education, in a press release.

The two professors have been recognized across the state as leaders in the field of exceptional children. They have worked tirelessly to develop and sustain programs that enhance and support students with special needs.

Robinson serves as president of the North Carolina Council for Excep-

tional Children Division of Teacher Education.

Rivera served as immediate past president, president-elect, vice president and conference chair with N.C. Council for Exceptional Children. In addition, she served as representative assembly spokesperson for North Carolina at the national level. She has contributed to improved membership in state and national organizations as conference chair and co-chair.

Adams named provost, VP for academic affairs at Campbell University

DR. MICHAEL ADAMS has been named the new vice president for academic affairs and provost at Campbell University, succeeding Dr. Mark Hammond, who is joining the faculty of the Jerry M. Wallace School of Osteopathic Medicine after serving the last 10 years as provost and, before that, 12 years as dean of the College of Arts & Sciences.

Adams said he is “honored” to take on his new role and continue to serve his alma mater.

“I look forward to working with the esteemed faculty and staff colleagues at Campbell University as well as

the Deans’ Council and the cabinet to continue the pursuit of our mission of preparing graduates for purposeful lives and meaningful service,” Adams said in a press release. “I greatly appreciate Dr. Hammond’s leadership and counsel during my tenure as dean, as he provided a broad perspective of the multifaceted academic operations of the University.”

A 1996 Doctor of Pharmacy summa cum laude graduate of Campbell, Adams also earned a Ph.D. in medicinal chemistry from the University of Washington in 2003. He returned to the College of Pharmacy & Health Sciences in 2005 as an assistant professor of pharmaceutical sciences. Four years later, he became the school’s director of science education outreach and served in that position through 2012, when he was named assistant dean for graduate and interprofessional education. He succeeded the College’s founding dean, Dr. Ronald Maddox, as dean in 2015.

Rivera

Robinson

Adams

History enthusiasts and treasure hunters alike can find a not-so-hidden gem in downtown historic Carthage, the Tyson Sinclair Building. Picturesquely located on McReynolds Street by the roundabout, the Tyson Sinclair Building is currently owned by local veterans. The building serves a dual purpose as a home to multiple local businesses and a relic of history frozen in time.

Hidden in the walls of this building are endless secrets and stories from eras gone past. The building is very old, with construction speculated to have started in the 1800s. The old-fashioned architecture offers a breath of fresh air in the era of minimalism and increasingly uninspired interior design. “I’ve heard people say it’s kind of like being in our own little Biltmore,” said Georgia Chriscoe, one of the owners of the Tyson Sinclair Building since March of 2022. A perfect escape from the ever-prevalent strip malls and housing developments, the Tyson Sinclair Building adds a vital, timeless charm that isn’t so easy to find anymore.

The mansion boasts four floors of beautiful preserved antique interior, including a small lookout area where one can see all the way to Pinehurst.

Saving history

“It is in our museum in Carthage, they had a party up there where they watched that comet that made the Raleigh papers,” said Chriscoe. “There’s just story after story after story you can tell about the mansion which is why we are trying to save it.”

Aside from preserving the history of downtown Carthage, the Tyson Sinclair Building offers an invaluable resource as a brick-and-mortar location for small businesses. Between its beauty, story, and purpose, the Tyson Sinclair Building is an invaluable asset to historic downtown Carthage.

From its grand staircases, 1940s tile floor, a plethora of fireplaces, and a beautiful ballroom, the mansion is worth a visit. The mansion is constructed with numerous hand painted features and each room bears intricate detailing that can only be found in older historic homes.

“My favorite part of the building is all of the amazing arches and hidden things no one else has seen, and the history. I just can’t narrow it completely down, but when I’m there alone and there’s nobody else there in all of that massiveness, there’s nothing else quite like it,” said Chriscoe. “It’s different and unique, it’s just magical!”

With all old buildings come

their quirks, and the Tyson Sinclair Building is no exception. Due to refurbishment needs, the building is only at a fraction of the capacity it’s capable of, currently housing 12 small businesses started by community members, with three new businesses coming in 2023. The owners of the building are working extremely hard to preserve the building and simultaneously, the soul of downtown. Chriscoe said they are passionate about and committed to their community and their town.

“We’re just trying to keep historic downtown historical,” said Chriscoe. “We want to save this building to where it’s around a hundred more years and available to our community instead of sitting there stagnant.” Long-term goals include getting the building ready as an event venue after necessary refurbishment and renovations.

The story of the Tyson Sinclair Building is a long one. A more indepth overview of the exact history can be found on the building’s Facebook page “The Tyson Sinclair.” The Tyson-Jones buggy factory grew exponentially in productivity and prominence. The buggy factory’s efficiency was revolutionary for its time, boasting great success over such a

STAPLE

long span of time, and an alleged visit from Henry Ford. The Tyson family constructed a mansion in what is now downtown Carthage, and over time, the Sinclair family became in possession of the mansion house, resourcefully repurposing the mansion’s many rooms as showrooms for their family furniture company. The Tyson Sinclair Building makes for an interesting highlight of the downtown Carthage area.

Despite lack of recognition from the public eye, the Tyson Sinclair Building remains as a monument of local history and economic progression, and a goldmine of untapped potential. An unsung hero of a Sunday drive and a charming hallmark of North Carolina’s former days, the Tyson Sinclair Building is a destination not to be missed. Swing on by and browse the local businesses and take some time to breathe in the eras of old and admire the character and charisma the Tyson Sinclair Building offers. Chriscoe said, “We don’t want our names, we want the Tyson Sinclair, and we want the community to know we’re doing this for them, we’re a group of owners who want to make this building wonderful and make it available to our community.”

THE TYSON SINCLAIR BUILDING, LOCATED IN DOWNTOWN CARTHAGE, IS UNDER NEW OWNERSHIP WHO ARE WORKING TO PRESERVE THE HISTORIC

PHOTO PROVIDED BY: GEORGIA CHRISCOE

The Tyson Sinclair Building is now an economic anchor in the downtown area, serving as the home of 11 small businesses.

Helping

Fayetteville Businesses Weather the Storm

As Fayetteville’s utility provider, PWC provides special support for our business and industrial customers:

• During storms, extended outages or other emergencies, we keep in contact with you to address your specific needs. Be sure to provide, or update, your contact information (before a storm hits) through the Storm Central/Business Continuity link at faypwc.com.

• You can also sign up for Electric Outage Notifications through PWC’s Online Account Manager to receive notifications 24/7my.faypwc.com. We’ll let you know when there’s an outage that affects your business location (especially helpful when it occurs after hours).

Customer Focused. Community Strong.

Harnett County residential development

PROGRESS CONTINUES ON PLANS FOR A NEW SINGLE FAMILY RESIDENTIAL COMMUNITY COMING TO HARNETT COUNTY NEAR LILLINGTON

Aproject that began with the purchase of more than 300 acres of land in Harnett County is continuing to make progress near the Town of Lillington.

In November of 2021, it was announced that Dallas-based Reeder Land Development Company (“Reeder”), a division of Reeder Capital Partners, had purchased 348 acres of land in Fuquay-Varina, Harnett County, North Carolina. According to a press release from Reeder, the land was purchased for the development of a new single family residential planned community within the Town of Lillington ETJ.

Reeder purchased and is developing the land under its wholly- owned subsidiary, Matthews Landing Development LLC. Original plans included up to 940 single-family homes and townhomes located just north of Harnett Central Road and just east of the US 401 N and State Road 2215 Highway interchange. Reeder is under exclusive contract with the Terramor Homes division of D.R. Horton, Inc., the nation’s largest homebuilder.

Developers said that the location in close proximity to the Triangle area is what brought the project to Harnett County.

“The central region of North Carolina, and just about anywhere within an hour of the Raleigh-Durham Research Triangle, has shown consistent and dynamic growth, even during the pandemic,” said Bryan T. Reeder, Co-Founder of Reeder in a press release. “With Apple’s announcement this past April of a new $1 billion-plus corporate campus, plus Google’s announced new engineering hub - along with the thousands of high-paying jobs these corporate giants are expected to create - new business opportunities and home values in this region continue to outpace many areas of the country.”

The new community, named Matthews Landing, is expected to be built in three phases.

In January of 2023, it was announced that Reeder had completed

the sale of the first Phase 1 finished Lots at Matthews Landing to D.R Horton Inc., however the terms of the sales transaction were not disclosed.

According to a recent press release, Bahama, an NC based Global Construction Group who serves as Reeder’s General Contractors nationwide, is also handling the complete construction and project management of Matthews Landing.

The latest plan for the development includes 970 lots with various product lines, including single-family homes and townhomes.

“Despite the general slowdown in new home sales, this region of North Carolina continues to show steady growth,” said Chris Reeder, Co-Founder of Reeder Land De-

velopment in a press release. “The relocation and opening of new large manufacturing, science, tech, and related businesses are generating

constant demand for new housing.”

D.R. Horton's Raleigh South Division Vice President of City Operations, Courtney Smith-Gonzalez also confirmed the projected need for housing in a press release stating,

“New home demand in this region remains strong. We’re grateful to the Reeder team for delivering the lots on time, allowing us to begin construction next month [February]. We are confident that our product lineup will offer an affordable option for families looking to move to this up-and-coming area.”

The project is currently valued at $15 million. Construction began in late 2022 with scheduled completion expected in late 2024/early 2025.

PHOTO PROVIDED BY: REEDER CAPITAL PARTNERS

The current plans for Matthews Landing include three phases of development, the first of which was confirmed to have been completed in January.

PHOTO PROVIDED BY: REEDER CAPITAL PARTNERS Construction began in late 2022 with scheduled completion expected in late 2024/early 2025

Reopen for business

THE MAGNOLIA INN REOPENS FOLLOWING A FULL RENOVATION THAT BEGAN IN 2021

For more than 125 years, The Magnolia Inn has stood sentinel overlooking the Village of Pinehurst. After a year-long renovation that completely remodeled its guest rooms and interior, The Magnolia began greeting guests on Feb. 7.

The Magnolia is the second-oldest hotel in the Village, first opening its doors in 1896. Pinehurst Resort agreed to acquire one of the area’s most iconic hotels — which also houses Villaggio Ristorante & Bar — in 2021, and shortly after, began to update the hotel’s guest rooms.

“The Magnolia Inn will provide a unique and charming experience to the Resort and the Village of Pinehurst, and it is an experience unlike any other accommodation on property,” said Pinehurst Resort’s Director Of Hotel Operations Matt

>> By Stephanie Meador

Chriscoe in a press release. “We can’t wait for guests to begin creating their own stories and memories at this special landmark.”

The Inn, which previously hosted 10 rooms, now houses eight refreshed spaces, blending modern elegance with The Magnolia’s signature historic charm. Each room is comfortably sized and architecturally unique, with spacious sitting areas and bathrooms.

Guests staying at The Magnolia are able to enjoy all the Resort’s amenities, and because of its central location in the Village, they can enjoy a truly local stay experience.

For more information about how to book a stay at The Magnolia, visit www.Pinehurst.com.

bizfayetteville.com

Hidden Lake North

WELLONS COMPANIES OF SPRING LAKE, NC ANNOUNCES NEAR COMPLETION OF NEW RESIDENTIAL HOUSING DEVELOPMENT

Anew residential housing development will soon be complete in Spring Lake.

Located North of the original Hidden Lake Community, Hidden Lake North, (Phase 2), will offer fourteen newly constructed homes. Hidden Lake Phase 3 will follow offering 24 newly constructed homes.

Eight of the 14 houses have already been completed and the foundations for the remaining five have been poured.

Since its founding, Wellons Companies has developed dozens of new residential communities, resulting in over 1,000 single and multi-family homes and over 300,000 square feet of commercial space.

“Following the completion of the Hidden Lake Phase 1 development, there were additional home buyers desiring new homes in the thriving Anderson Creek area,” said William S. Wellons, Managing Partner, in a press release.

The homes are being marketed and sold by Kristin Seeland and Natalie Martin through Coldwell Banker Advantage, and some of the homes have already sold.

Wellons Companies is a family owned and operated business. “I think the dynamic of the company is really great because, you know, William S. Wellons Jr.'s father started the company. And of course, it's grown tremendously under William S. Wellons Jr. and now Jason Wellons is the third generation… he's the builder, he's the contractor on the Hidden Lake Project,” shared Vice President of Sales and Marketing Paula Maczak.

“Our Company is engaged in all aspects of the residential land development process,” said Wellons in a press release. “From the well-located land parcels and the craftsmanship, we take great pride in our work,” Wellons concluded in a press release.

PHOTO PROVIDED BY: PINEHURST RESORT

The Inn, which previously hosted 10 rooms, now houses eight refreshed spaces for guests to enjoy.

PHOTO COURTESY OF WELLONS COMPANIES

Some homes of the nearly completed development have already been sold through Coldwell Banker Advantage.