loading...

Fundrise Partners With Georgia Avenue Project For First Residential Offering

  • September 30th 2013

by Shilpi Paul

✉️ Want to forward this article? Click here.

Fundrise Partners With Georgia Avenue Project For First Residential Offering: Figure 1
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.

Similar Posts:

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/fundrise_partners_with_3400_georgia_ave_developers/7625.

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. Start browsing below!