Crowdfunding

Curbed: There’s a New Real Estate Crowdfunding Site Focused on Fueling Community Development

Small Change is designed to allow people to invest in the real estate development projects happening in their local communities.

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As the real estate industry continues to recover from the recession, banks have been wary when it comes to funding certain real estate projects. That’s why more developers are turning to crowdfunding websites for help.

According to Curbed, there’s a new crowdfunding site that’s dedicated to housing. Small Change, a real estate fundraising platform founded by architect and designer Eve Picker, is on a mission to help communities to play a role in their own redevelopment. The site proves that even small donations to real estate projects can make a difference in neighborhoods across the country—so far, the platform has raised more than half a million dollars. And developers like Paul Lin and Danny Cerezo are catching on. The pair recently used Small Change to build a series of single-family homes in Los Angeles.

In an interview with Curbed, Lin said, “We’ve found that this platform attracts investors, and allows them to come to us. Traditionally, we have to network and reach out to friends, families and associates. It just takes more effort on our part to reach the right audience. Small Change helps us reach out without having to do as much work.”

Small Change is far from the only real estate crowdfunding site out there. Platforms like FundRise and Realty Mogul are also focused on property development. However, Small Change is carving its own space in the industry. Instead of being limited to investors who are accredited and have at least $1 million in capital, the platform enables everyday people to get involved in the real estate development projects taking place around them.

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