- HIVE 50 CATEGORY: CAPITAL
Small Change is a real estate equity crowdfunding platform that allows everyday people to invest in projects that aim to change urban communities for the better. An avid urbanist with experience in architecture, city planning, urban design, and real estate development, Eve Picker founded Small Change knowing how cities work and what changes can help urban neighborhoods really thrive. When the JOBS Act of 2012 made it possible for “a crowd” to invest in small businesses instead of just donate to them, Picker saw an opportunity to draw capital into an area where traditional financing tends to lag behind. She calls crowdfunding “the new community banking,” and launched Small Change to connect individual investors with real estate developers. Her team vets real estate projects according to the Change Index, which provides metrics on mobility, sustainability, and economic vitality. Data points are assigned for walkability, public transit, proximity to green space, job creation, affordable housing, and many more factors. To date, Small Change has crowdfunded real estate projects in New Orleans, Pittsburgh, Washington, D.C., and Los Angeles.