CROWDFUNDING WORKS FOR ALL SIZE PROJECTS
One thing that has become obvious over the past year is that using crowdfunding to finance real estate projects is an ideal way to foster community involvement in local development.
In Kansas local residents used an intrastate community funding law to help finance the Stafford Mercantile—a variety store with an old-fashioned ice cream parlor. The Mercantile is open and filling a need identified by the community after the local department store closed.
In Bogotá, community members are helping to finance construction of the tallest building in Colombia. So far over 3000 Colombian citizens have invested $145 million of the estimated $240 million needed to complete the 66-story building. The project is expected to be completed in 2014.
Listen to the Summit’s Real Estate Track to hear more about how crowdfunding is helping to democratize real estate financing by allowing neighbors to invest in local development.
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