Figure Eight Island Real Estate

    Figure Eight Island

    Tucked away between the Wilmington mainland and Wrightsville Beach is a small barrier island known as Figure Eight. It is now a privately owned island and is home to some of the most exclusive and affluent residents and visitors to Wilmington.

    Though the island can now be reached by car, for most of its known existence, the only way to reach it was via watercraft. Now, the island is accessible by private guarded road that traverses a swing bridge to enter it.

    King George III of England granted the tract that is now Figure Eight Island to James Moore. Cornelius Harnett acquired the land in 1775 and named it The Banks. Twenty years later, the property was auctioned off and bought by James Foy to add to his well-known Poplar Grove Plantation. In his own honor, he christened the island Foy Island. For the next century and a half, the island remained part of Poplar Grove.

    The United States Coast Guard utilized the island during World War II and actually patrolled it on horseback. The island was also used as a target for aircraft gunnery practice.

    In 1955, then mayor of Wilmington, Dan Cameron and his brother Bruce bought the land from the Foy family for a paltry $50,000. For another $25,000 the brothers Cameron added an additional adjoining marshland to their property.

    The property just sat unused and undeveloped for the next ten years and then the brothers formed the Island Development Company with their cousin Raeford Trask. It was their intent to develop the island for residential use. It was then that the island was christened with its current name in honor of Rich’s Inlet Creek and its paths in the marsh around the island.

    The island is now made up of 1,300 acres of pristine land surrounded by marsh and beach. It does, in fact, boast five miles of sandy white beaches. Of course, the marshland side of the island provides a unique beauty all its own.

    Tennis courts, a boat ramp, Yacht club and marina now exist on the island for the residents. Though there is not a golf course on the island, several residents of the island did create the Eagle Point Golf Club on the mainland.

    Most of the residents use their island homes as summer and vacation homes but many do live there year round. Some of the homes can be rented for vacation but only approximately 100 are on the market as rentals.

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    For those looking for seclusion and quiet that this posh and chic neighborhood offer, the average cost of a home runs about $2 million. But with that price does ensure the quiet and solitude afforded by no commercial developments and the traffic that brings.

    Intrigued by the potential of living on a private, secluded island? Here’s your change! To find out more, contact us today.