Real Estate and Public Participation

Want further evidence that technology and the internet are going to dramatically transform many “non-tech” industries such as real estate? Take a look at 1351 H Street NE in Washington D.C (pictured above). It houses a hybrid retail store and restaurant and is probably the first truly crowdfunded real estate project . The project was completed using a platform called Fundrise , which I’ve written about before here on Architect This City. Their vision is to completely democratize real estate investment by removing middlepeople and outdated regulations that restrict who and how people can invest in real estate. To accomplish this, the founders of Fundrise went out in 2011 and bought the building located at 1351 H Street NE for $825,000. The goal was for it to act as their proof of concept. They then spent a significant amount of time and money figuring out how to make it leg...

Full article: http://sustainablecitiescollective.com/node/1067791

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