Here's the full press release for a very interesting new program that enables DC and Virginia residents to become investors in a piece of H Street's future. You can buy a share in the company (Fundrise) for just $100. Thus far they have 35 investors, and have raised $73,500 of their $325,000 goal. Fundrise owns 30% of the potential profits of Maketto, and the real estate located at 1351 H Street NE (future home of Maketto). Maketto
is an innovative new venture from Erik Bruner-Yang of Toki Underground and the guys behind local clothing line Durkl
Here's a description (from the Popularise website
) of Maketto:
The concept will be based around an inviting market place environment spearheaded by collaboration between the creators of DURKL and Toki Underground; combining both fashion and food, while at the same time giving local vendors an opportunity to market and sell their products.
We believe that H Street is ready for something new and different. A space that will operate both day and night, during the week and on weekends, providing an offering as diverse as the neighborhood itself. We think of it like a new age Eastern Market. We are excited about the potential possibilities for this project, and look forward to further developing the concept with the input and support of our future customers.
There's a great deal more information about Maketto (and the team behind it)
on the Fundrise website
Fundrise Launches Online Investment Platform To 'Build Your City'
New venture will allow individuals to invest directly in their communities
August 7, 2012 9:02 AM EDT
WASHINGTON, Aug. 7, 2012 /PRNewswire/ -- Fundrise, LLC ("Fundrise") today announced the launch of its website, Fundrise.com, providing an online platform that democratizes real estate investment, by empowering local individuals to purchase securities representing shares of ownership in local real estate and share in potential profits of new businesses.
Debuting its first investment offering in Washington, D.C.'s Atlas District, Fundrise is offering D.C. and Virginia residents the opportunity to purchase equity in Fundrise 1351 H Street, LLC, which owns The Maketto Building -- the future home of Maketto, a hybrid food and fashion market by the teams behind the restaurant Toki Underground and DURKL, a D.C. -based American streetwear company. The money raised will be used to renovate the building and install the interior infrastructure for Maketto. The fashion and food destination plans to open in early 2013. Fundrise 1351 H Street, LLC aims to continue to involve shareholders after the offering has completed, inviting them to participate and engage in the restaurant's development process.
Fundrise is an online investment platform that lets local individuals invest in, own and build local places, such as real estate, restaurants and small businesses. Fundrise selects potential investments and offers securities to the public through its online investment management site. Headquartered inWashington, D.C., Fundrise was founded by brothers Benjamin and Daniel Miller, along with team members Kenny Shin and Brandon Jenkins. Benjamin and Daniel are also Co-founders of Popularise (https://popularise.com), the online neighborhood crowdsourcing site, as well as Managing Principals at WestMill Capital Partners. To learn more about Fundrise, please visit https://www.fundrise.com
About WestMill Capital Partners
WestMill Capital Partners is a real estate investment company focused on the acquisition, financing, and development of retail-entertainment and urban, mixed-use properties in Washington, D.C. To learn more about WestMill Capital Partners, visit http://www.westmillcapital.com.