Click on the link to read the * entire * Washington City Paper Housing Complex link:
So will there be Fundrise project to convert a single family dwelling rowhouse in Bloomingdale to multiple-unit condos?
When historic rowhouses get chopped up into high-priced condos, the projects often spark feelings of resentment in neighbors who preferred the single-family spaciousness that used to predominate (as well as at the Office of Planning, which proposed to restrict condo conversions). They may also arouse twinges of envy. After all, when a property owner turns, say, a$380,000 house into condos worth more than $2 million, it's hard not to wish you could get in on the wildly profitable action, much as you might dislike the final product.
And now you can. Fundrise, founded in 2010 by brothers
Ben and
Dan Miller, is best known for its crowdfunding of major real estate projects in the H Street NE area, including a recent
$650,000 financing haul for a 45-apartment building at 1326 Florida Ave. NE. But the company has begun to get into the condo conversion game, allowing investors who may not be able to afford to buy property to capitalize on the real estate boom nonetheless.
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