Bellwether Housing

Bellwether Housing

Seattle nonprofit building 750 new affordable homes. $1.25M already committed.

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Security Type
Debt/Note
Categories
Other
Min Investment
$500
Offering Date
June 18, 2019
Expected Close Date
September 16, 2019
Target Raise
$200.00K-$500.00K
Deal Notes

Promissory note with 2% interest per annum, paid quarterly for 15 years. Maturity Date December 31, 2034. Option to call investment at 5 and 10 years.

Valuation
$200,000

Company Description

Seattle nonprofit building 750 new affordable homes. $1.25M already committed.

Perks

$500+ for
Invitation to the Building Opportunity Victory Party to celebrate the end of the campaign. Membership in a private Building Opportunity Crowdfunding Facebook group, where you can connect with other investors and learn more about affordable housing. Invitations to events such as exclusive tours of the neighborhoods we're building in, building groundbreakings, and grand opening events.

Key Deal Facts

You're concerned about the Puget Sound Region's affordable housing and homelessness crisis and want to invest in a proven solution.
You want to create access to opportunity for low-income families.
You want to invest in diverse, equitable neighborhoods that are accessible to people of all incomes and backgrounds.
Every $1 in investment unlocks $29 in committed funding from public and other resources.
We have a $30M annual budget, $330M in assets, and previously raised $4M from impact investors.
We own and operate over 2100 affordable apartments in Seattle and have a 39-year track record.
The average Bellwether rent is $951 less than the average rent in Seattle.

Use of Proceeds

95% towards the development and construction of 750 affordable apartments, 5% towards Wefunder intermediary fee 

Management Team / Advisory Board Bios

Susan Boyd
CEO
Susan's background includes direct service, land use law, and affordable housing development.

Gabriel Grant
Board Chair
Principal at Spectrum Development Solutions.

Deva Hasson
Board Vice Chair
Principal and Investment Director at Heartland

Deal Notes

Promissory note with 2% interest per annum, paid quarterly for 15 years. Maturity Date December 31, 2034. Option to call investment at 5 and 10 years.

Amount Raised : $300,371
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Security Description

A note is a financial security that generally has a longer term than a bill but a shorter term than a bond.

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