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Our Best Year Yet.

January 15, 2025 by Small Change

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].

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IMPORTANT MESSAGE: IN MAKING AN INVESTMENT DECISION, INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE ISSUER AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED. INVESTMENTS ON SMALL CHANGE ARE SPECULATIVE, ILLIQUID, AND INVOLVE A HIGH DEGREE OF RISK, INCLUDING THE POSSIBLE LOSS OF YOUR ENTIRE INVESTMENT.

This website, smallchange.co, which we refer to as the “Site,” is used by two different companies:  NSSC Crowd, LLC, which we refer to as “NSSC Crowd,” and NSSC Funding Portal, LLC, which we refer to as “NSSC Funding Portal.” NSSC Crowd offers investments in real estate projects under Rule 506(c) of the Securities and Exchange Commission (SEC). These investments are offered to accredited investors only. NSSC Funding Portal, which is a licensed Funding Portal, offers investments in real estate projects under Regulation Crowdfunding, which is also known as Title III Crowdfunding. These investments are offered to everyone.

By using this Site, you are subject to our Terms of Use and our Privacy Policy. Please read these carefully before using the Site.

A crowdfunding investment involves risk. You should not invest any funds in the offerings listed on this Site unless you can afford to lose your entire investment.

Although our Site offers investors the opportunity to invest in real estate projects and companies, we do not make recommendations regarding the appropriateness of a particular opportunity for any particular investor. We are not investment advisers. Investors must make their own investment decisions, either alone or with their personal advisors. Real estate can be risky and unpredictable. For example, many experienced, informed people lost money when the real estate market declined in 2007-8. Time has shown that the real estate market goes down without warning, sometimes resulting in significant losses. Some of the risks of investing in real estate include changing laws, including environmental laws; floods, fires, and other Acts of God, some of which can be uninsurable; changes in national or local economic conditions; changes in government policies, including changes in interest rates established by the Federal Reserve; and international crises. You should invest in real estate in general, and in the opportunities listed at the Site in particular, only if you can afford to lose your investment and are willing to live with the ups and downs of the real estate industry.

We provide financial projections for some of the investment opportunities listed on the Site. All such financial projections are only estimates based on current conditions and current assumptions. The actual result of any investment is likely to be different than the original projection, often by a large amount.

Neither we nor anyone else guarantees the results reflected in financial projections. Neither the Securities and Exchange Commission nor any state agency has reviewed the investment opportunities listed on the Site.

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