Women-Owned Development Company Dedicated to Social Impact Lists Offering on Small Change Crowdfunding Platform
Renovare Seeks to Raise Capital to Support Completion Of Five Michigan-Based Projects Totaling $88 Million
DETROIT – July 13, 2022 – Renovare Development, a woman-owned development company, is raising capital in an effort to propel five Michigan-based real estate projects to the finish line via Small Change, a mission-driven crowdfunding platform for real estate development.s according to social impact.
The five projects, at a projected $88 million in total development cost, include:
- Ypsilanti Homes: Development and sale of 46 single-family units, fifty percent of which will be set aside for families earning between 40% and 120% of area median income.
- Munising Marketplace: Construction of a three-story, mixed-use building along Lake Superior that will house 38 mixed-income residential units and a collaborative workforce center serving area workers and businesses.
- Pictured Rocks Event Center: Conversion of a former fire station and brownfield site in downtown Munising into a family-style destination eatery and distillery.
- Bellaire Marketplace: Development of a mixed-use building in downtown Bellaire in Northern Michigan to support workforce housing and commercial space.
- Project T – Benton Harbor: Development of a multi-phase project, in partnership with a local Habitat for Humanity affiliate, to include affordable housing targeting youth aging out of foster care, workforce multifamily housing, and attainable single-family, for-sale homes.
Renovare earned high scores on Small Change’s proprietary Small Change Index™, which rates developers and developments according to social impact and assesses their commitment to ESG principles.
“As a female developer myself, I’m gratified when other women succeed in an industry that has long been dominated by males,” says Eve Picker, founder of Small Change.
To date, Renovare has raised $56,000, representing 74% of the minimum goal. Investment minimums start at $500 and anyone 18 or older can invest.
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.
Small Change - Rachel Antman, Saygency (212) 362-5837 [email protected]
NSSC Funding Portal, a SEC registered Funding Portal and member of FINRA, offers investments under Regulation Crowdfunding or Title III, per Section 4(a)(6) of the Securities Act. These investments are offered to everyone 18 or over.
This is not a solicitation of an offer to buy or sell any securities. The projects illustrated above may not be indicative of all projects on the platform. All investing is risky and includes the risk of loss. Securities are subject to liquidity risk and cannot be easily converted to cash. *Past returns do not guarantee future returns. If you are interested in learning more, please visit Small Change for educational material and detailed offering information. You can always say [email protected].