A new experiment in funding affordable housing is underway in Seattle.
Seattle-based Bellwether Housing has launched the "Building Opportunity Fund" described as the nation's first crowdsourced affordable housing fund, according to Natalie Bicknell.
"From now until September of 2019, Bellwether hopes to crowdfund $4.5 million dollars of investments to support the construction of 750 units of affordable housing in Seattle and Tukwila," according to Bicknell.
The article explains the genesis of the Building Opportunity Fund, details what investors should expect in terms of risk and return on investment, and also describes the projects planned for the initial crowdfunded developments. Notably, Amazon has promised to match investments by employees into the fund dollar for dollar.
If successful, Bellwether sees opportunities to expand the reach of the Building Opportunity Fund.
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