Although we lack reliable data on the current size of crowdfunding, some sources indicate that it’s a multibillion-dollar industry, with more than 1 million separate offerings each year, and that the field is growing rapidly.1 While crowdfunding may not be as well known in the community development context, there are, in fact, existing models of crowdfunding for community development that we can learn from.
I understand that several of these existing models will be discussed on a panel later this morning. One local example is Fundrise, an investment platform for commercial real estate that gives individuals the opportunity to invest directly in neighborhood businesses. Fundrise started on the H Street corridor here in D.C., and has completed 18 real estate deals totaling more than $ million.