Ex-Governor David Paterson joins real estate crowdfunding site

New iFunding hire to link crowdfunding with affordable housing goals

TRD NEW YORK /
Apr.April 16, 2014 02:05 PM

Real estate crowdfunding platform iFunding has tapped former New York Governor David Paterson to talk shop with lawmakers and business leaders as Director of Community.

In the new role, Paterson is tasked with linking affordable housing initiatives with the social funding model of the website, which focuses on low minimum investment amounts, according to CrowndFundingInsider. Paterson will also host talks on the EB-5 Immigrant Investor Program with potential international investors, the article said.

“iFunding couldn’t be more happy to have someone on our team with Governor Paterson’s perspective on housing policy and real estate’s importance to community development,” William Skelley, iFunding’s chief executive, told Crowdfunding Insider.

A number of real estate investors and developers have taken to crowdfunding lately as a way to bypass traditional financing models like bank loans. Current crowdfunded projects in New York City include an apartment building at 151 Dupont Street in Greenpoint, Brooklyn, sourced by startup Fundrise, which has so far raised $225,000 of its $700,000 goal via accredited investors. Fundrise’s next project, a boutique hotel in Gowanus, aims to raise capital from unaccredited investors with shares starting as low as $100, as previously reported. [CrowndfundInsider]Angela Hunt


Related Articles

arrow_forward_ios
From left: 84 William Street, Rodrigo Niño and Larry Davis of Shorewood Property Group (Credit: Google Maps)

Crowdfunding firm to investors: Cough up $40M or lose it all

The Eddington House cafe in Shanghai

“We’re the elite”: What backlogged Chinese EB-5 investors are planning next

CrowdStreet CEO Tore Steen (Credit: iStock)

CrowdStreet hits $1B milestone, crowdfunding firm claims

Rodrigo Nino, 84 William Street in Lower Manhattan and 1400 N. Orleans Street in Chicago (Credit: Facebook, Google Maps)

Prodigy Network investors say millions in limbo as company shuts them out

Cadre founder Ryan Williams and Allen Smith

Cadre brings on former Four Seasons CEO as president

Sen. Lindsey Graham and the Hudson Yards development (Credit: Getty Images, iStock)

New EB-5 rules targeting abuse may be eased

As crowdfunding startups rethink their business model, many are becoming more like traditional real estate investment firms (Credit: iStock)

To survive, crowdfunding firms are remaking themselves

The lawsuit argues the increased amounts will deter foreign investors from the program (Credit: Getty Images, Wikipedia)

Lawsuit seeks to halt new EB-5 regulations

arrow_forward_ios
Loading...