Home | Newsletter | Advertise
loading...

Fundrise Attracts $519,000 in One Day

  • Jan 24th 2013

by UrbanTurf Staff

Fundrise Attracts $519,000 in One Day: Figure 1
1539 7th Street NW

It appears that the waters have appropriately been “tested” for interest in crowd-funding website Fundrise’s next project.

Yesterday, we reported that the folks at Fundrise had launched an effort called “Testing the Waters” aimed at gauging interest in a property before moving ahead full steam on a crowdfunded investment initiative. The property in question was their next investment offering, a vacant two-story building at 1539 7th Street NW in Shaw.

The site hoped to reach a target of $300,000 in investment interest over the next 30 days to justify moving forward with the project. It didn’t take nearly that long. By the end of the day, they had already exceeded their goal by $200,000.

UrbanTurf checked back on the project page last night at 11pm, and discovered that 205 people had already pledged a whopping $519,000. As The Washington Post’s Jonathan O’Connell reported earlier in the evening, the site crossed the $300,000 threshold in just two hours.

While the $519,000 number only symbolizes investment interest (i.e. no one has written a check yet), it obviously bodes well for the project moving forward.

For more details about the revamped Fundrise process, click here.

See other articles related to: fundrise

This article originally published at https://dc.urbanturf.com/articles/blog/fundrise_attracts_519000_in_one_day/6560.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse