Fundrise Partners With Georgia Avenue Project For First Residential Offering
3400 Georgia Avenue NW. Courtesy of Google Maps.
Crowdfunding facilitators Fundrise have partnered with the developers behind 3400 Georgia Avenue NW (map), the 100-unit project planned by Redbrick Partners.
Through Fundrise, interested investors can buy shares in the residential development, but they will be notably more expensive than the entry-level shares for Fundrise’s other projects: at $10,000 per share, the crowdsourcing firm hopes to raise $500,000. (The remaining capital for the project is described here.)
Murry’s grocery currently occupies the Georgia Avenue site, which is located a few blocks south of the Georgia Avenue/Petworth Metro station. Redbrick has plans to initiate a planned unit development (PUD) process in 2014, and to begin construction on the project in 2015. Delivery is estimated for 2016.
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See other articles related to: 3400 georgia avenue, fundrise, georgia avenue, redbrick partners
This article originally published at https://dc.urbanturf.com/articles/blog/fundrise_partners_with_3400_georgia_ave_developers/7625.
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