Fundrise fans in Shaw can pull out their checkbooks, because D.C.'s kings of crowdsourced development have come to their neighborhood. Just over a year ago, the Miller brothers set their sights on a vacant building in Shaw. They had an unprecedented phase of initially probing the surrounding community for interest and they apparently received it. As of earlier this morning, investors and neighbors from Maryland, Virginia and D.C. have already bought $13,200 worth of shares for this "boutique retail rehab" as of this posting. Basically, developer WestMill Capital Partners (WestMill Capital and the Rise businesses happen to have a common owner) plans to lease this currently drab two story brick box to a local restaurant or retailer. Thankfully for potential neighborhood investors, buy in is $100 per share and not the $1000 per share that Fundrise had posited last year.
· DC Boutique Retail Rehab [Fundrise]
· All Fundrise Coverage [CDC]