Black Developers and Artists Use Small Change Crowdfunding Platform To Raise Capital for Creative Hub in Downtown Portland
‘Creative Homies Enterprise Building’ Intended to Serve Local BIPOC Community
PORTLAND, Ore. – July 27, 2022 – Black developers and artists Cyrus Coleman and Adewale Agboola are raising capital through Small Change, a mission-driven crowdfunding platform for real estate development, to transform a 20,000-square-foot historic building in Portland’s Old Town into a creative hub for the BIPOC (Black Indigenous People Of Color) community. They call themselves and their company Creative Homies.
Constructed in 1905, the property at 433 NW 4th Avenue contains three floors and a full basement. Coleman and Agboola, who purchased the property, intend to fill it with a series of curated spaces, including a subterranean music bar and lounge, a museum-style gallery, a café/wine bar, a boutique store, a full production studio, and rental lodging for studio guests.
In their business plan, Coleman and Agboola describe the “Creative Homies Enterprise Building” as a “space to feel empowered to share the BIPOC community’s vision, perspective, and point of view in a meaningful and authentic way.” They add that they believe: “These spaces are sorely needed, and we plan to lead and inspire a greater community of creative culture in Portland by empowering and providing a platform for marginalized voices.”
The project ticked nearly every box on the Small Change Index™, which rates developers and developments according to social impact and assesses their commitment to environmental, social and governance (ESG) principles.
“Cyrus and Adewale are fueling an effort to ensure that BIPOC contributions to Portland’s appeal will gain recognition and momentum and add to the city’s reputation for music, art, food, and culture,” says Eve Picker, founder of Small Change.
Investment minimums start at $500 and anyone 18 or older can invest. To learn more about this offering, please view the listing details.
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 37 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.
(For Small Change)
Rachel Antman, Saygency
(For Creative Homies)
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].