Small Change Crowdfunding Platform Heads Into Fourth Quarter 2021 With Five Diverse Real Estate Offerings Across the U.S. Totaling Over $8 Million of Which Over $1.8 Million Has Been Raised from 192 investors to Date.
October 13, 2021, Pittsburgh, PA – Small Change, a leading mission-driven real estate crowdfunding platform, announces over $1.8 Million successfully raised funds for five projects across the U.S. totaling $54 million in value.
Since inception, Small Change has helped 26 real estate developers raise over $7.5 million for 30 projects in 16 cities, big and small, across the United States. Small Change evaluates each project listed on its platform using its proprietary Small Change IndexTM which employs a broad array of factors to determine social impact. 50% of the deals funded via the Small Change platform have either a minority and/or female sponsor and all of them meet the social impact goals of the Small Change Index.
To date, Small Change has closed transactions in cities from coast to coast including Baltimore, MD, Chicago, IL, Egremont, MA, Los Angeles, CA, New Orleans, LA, Philadelphia, PA, Pittsburgh, PA, Phoenix, AZ, Rhinebeck, NY and Washington, D.C. The current offerings will add San Francisco, CA and Lenox, MA to this list.
Not so long ago only deep-pocketed investors had access to real estate opportunities like these. But that changed with the 2012 JOBS Act and the introduction of Regulation Crowdfunding in 2016. Now everyone can invest.
“This is a powerful community tool,” says Eve Picker, founder of Small Change. “We let people invest in the places they love and build wealth where they live. This is investing democratized.”
Small Change is currently listing offerings with a goal of over $8 million in debt/equity capital for the following five transactions totaling over $54 million in total end value. Investment minimums start at $250 and anyone 18 or older can invest.
- Kemble Berkshires – Lenox, MA. Leveraging the interest in localized travel in the wake of COVID-19 and the new “sharing economy,” Daniel Dus and his team are planning to redevelop the next Great Estate in their portfolio, this one located in the culturally rich town and wellness hub of Lenox, MA, at 2 Kemble Street. They plan to redevelop The Kemble Berkshires into a sustainable luxury property accessible at a price point well below that of a basic hotel accommodation while making it sustainable and carbon neutral. This is their second offering on the Small Change platform, having raised $890,000 in equity for their last project, The Freeman Berkshires, from 141 investors. To date, the project has raised over $1 million from 51 investors. Investments in The Kemble Berkshires start at $1,000.
- Aruka Midway – Baltimore, MD. As the first phase of this urban revival project, managed by O’Hara Developments’ Joanna Bartholomew (a woman of color developer), Aruka East Baltimore Midway, is leveraging a federally certified Opportunity Zone to rejuvenate 23 vacant row houses into 32 multifamily units and 15 single family homes on the 500 and 700 blocks on East 22nd Street in Baltimore City. To date, the project has raised almost $200,000, exceeding the minimum offering goal, from 54 investors. Investments in Aruka Midway start at $500.
- Alchemy Springs – San Francisco, CA. Anne Nickel Cannady, CEO of Alchemy Springs, is reimagining the former famous Sutro Baths of San Francisco, as a communal hydrothermal spa and bathhouse to be located at 939 Post Street in the burgeoning Tender Nob neighborhood of San Francisco. The existing 15,000 square foot warehouse will be leased for 10 years with two additional 10-year extensions and an option to purchase. To date, the project has raised over $200,000 from 40 investors and is closing in on the minimum offering goal. Investments in Alchemy Springs start at $250.
- BIPOC Homeownership – San Francisco, CA. Complex in structure but important in impact for affordable housing in San Francisco, Saki Bailey of the San Francisco Community Land Trust, will work to redevelop this seven-story, 28,000 square foot property, currently configured as a 40-unit multifamily property with two commercial units, into a permanently affordable cooperative. Located at 285 Turk Street in the Tenderloin neighborhood of San Francisco, the property will be gently renovated and then transferred via a Limited Equity Housing Cooperative vehicle to provide affordable housing in perpetuity for its tenants. To date, the project has raised over $30,000 from 13 investors. Investments in BIPOC for Homeownerhip start at $1,000.
- Venture on Country Club – Phoenix, AZ. The experienced Neighborhood Ventures team, led by Jamison Manwaring, plans to transform this well-located 120-unit hotel property into a state-of-the-art multifamily property with units ranging from studios to two-bedrooms/two-bathrooms. To date, the project has raised $350,000, exceeding the minimum offering goal, from 34 investors. Investments in Venture on Country Club start at $1,000.
About Small Change
Small Change is a crowdfunding platform that enables developers to raise capital for real estate projects with social impact. Since its inception in 2016, Small Change has helped 36 developers raise over $10 million for projects in 20 cities, big and small, across the United States.
Small Change evaluates each project listed on its platform using its proprietary Small Change Index™, which employs a broad array of factors to determine social impact. Nearly 60% of the deals funded via the Small Change platform have either a minority and/or female sponsor, and all of them score above 60% on the Small Change Index. To date, 68% of the projects on the platform have included affordable housing and 74% have been located in underserved communities.
In 2020 U.S. News & World Report named Small Change one of the top seven real estate crowdfunding platforms.
Melanie Kuta, Small Change, [email protected], (412) 212-6310
Rachel Antman, Saygency, [email protected], (212) 362-5837
NSSC Crowd offers investments under Rule 506(c) of the Securities and Exchange Commission (SEC) to accredited investors only. NSSC Funding Portal, a SEC registered Funding Portal and member of FINRA, offers investments under Regulation Crowdfunding to anyone 18 and over.
This is not an offer to sell securities. All investing involves the risk of loss. If you are interested in learning more, please visit Small Change for educational material and detailed offering information. You can always say [email protected].