Reports Capital Raise of Nearly $6 MM for Real Estate Projects. With Social Impact, and Launch of 13 Offerings in 2024
PITTSBURGH – January 15, 2025 – Small Change, an investment crowdfunding platform for real estate development with social impact, reports that 2024 was the platform’s best year yet, with over $6 million raised for more than a dozen real estate projects across the U.S. 13 new offerings were launched last year, joining others launched in 2023. Some have closed successfully; others continue to raise money into 2025 and will soon be joined by a slate of newcomers.
In 2024, a $3.75 million raise for 22 Drydock, a $400MM life-sciences building in Boston’s Seaport District, represented the largest to date on the platform. Boston Real Estate Inclusion Fund (BREIF) introduced the offering to give minority and women investors an opportunity to invest in the 344,000-square-foot, LEED-Platinum property, developed by Related Beal. They welcomed the opportunity: Notably, 73% of the investors in the BREIF offering are minorities – mostly Black. Over 50% are women, and 90% are minorities and/or women.
The other investment offerings that closed in 2024 include:
- Creative Homies, a hub in Portland, Oregon for BIPOC creatives. Black developers and artists Cyrus Coleman and Adewale Agboola raised $94,400 from 41 investors.
- El Centro, the conversion of a former warehouse in Philadelphia into a school. Developer SHIFT Capital, LLC raised $1,003,963 from 41 investors.
- The King Henry, an infill housing project in Alexandria, Virginia. Minority-owned Wall Street Capital Development Partners raised $558,000 from 40 investors.
- The Pajama Factory, a conversion of eight historic buildings in Williamsport, PA, into an arts-centric mixed-use complex. Developer Mark Winkelman raised $158,000 from 23 investors.
- Roseland Center, a medical and retail center in Chicago. Minority-owned developer Chicago TREND, which focuses on inclusive shopping-center ownership and community revitalization, raised $134,500 from 52 investors.
“The closed offerings differ significantly in terms of objectives, scope, geography, and building types, but they all share one thing in common: social impact,” says Eve Picker, founder and CEO of Small Change. “Each fulfilled the criteria outlined in our Small Change Index™, making a difference through superior DEI goals, environmental conservation, community benefits and more.”
Picker notes that 2025 is already shaping up to be a bumper year, given the many offerings that recently launched or were onboarded and the many enquiries the firm has been fielding. She says that Small Change is well prepared for the increased activity, following last year’s addition of five partners with extensive experience in regulation crowdfunding,real estate and tax credits.
“When I launched Small Change in 2016, my goals were to open up real estate investing to everyone – not just the select few – and improve access to funding for minority and female developers,” Picker states. “The success of the closed offerings and the momentum we enjoyed in 2024 demonstrates to me that we are slowly but surely achieving these goals.”
About Small Change
Small Change, an investment crowdfunding platform for real estate development with social impact, has helped 44 developers raise close $20 million for 56 projects in 31 cities, big and small, across the United States. Small Change uses its proprietary Small Change Index™ to measure a broad array of factors to determine the project’s social impact with the goal of creating more affordable, more equitable and more innovative communities. To date, over 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. Additionally, 68% of the mixed-use or residential projects listed on the platform have included affordable housing, and 86% have been located in underserved communities.
For more information on SmallChange.co, please visit www.smallchange.co or email [email protected].
Media Contact:
Rachel Antman, Saygency
[email protected] or (212) 362-5837
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].
