In 1954 Hurricane Hazel hit the East Coast and destroyed much of the development from Myrtle Beach up to Topsail Beach, with more than 15,000 homes and structures completely destroyed and another 39,000 homes damaged. Beach properties were no longer in as high demand, and many landowners wanted to sell their properties. During this time the Mayor of Wilmington, Dan Cameron, and his brother Bruce Cameron began the process of acquiring the island from George Hutaff and the Foy family. The Camerons paid the Foys $50,000 for their portion of the land, and then purchased two areas of adjoining marshland for $25,000 apiece in 1955. For the next 10 years the property lay dormant. The Cameron brothers joined their cousin, Raeford Trask, and investor Richard Wetherill, forming the Island Development Company, to develop the real estate on the island. They named the island Figure Eight to indicate Rich's Inlet Creek's crooked paths in the marsh. At this time, the only way to access the island was by boat, so the Island Development Company approached Champion Davis, owner of the marshland off Porters Neck, on acquiring more land to build a bridge to the island from the mainland. Davis turned down an offer to partner with the company. The Island Development Company eventually purchased two small tracts and a small parcel of land from the members of Edgewater Club to build a roadway bridge that now leads to Figure Eight Island's bridge. The first bridge was built on top of a government surplus landing ship tank.