‘300K Crowdfunding First’
New Zealand’s first crowdfunded commercial property development has just raised more than 300 thousand dollars for a community owned building in Lyttelton.
The Collett’s Corner project is based on a collective ownership model that encourages communities to come together to own a shared asset designed to deliver social, economic and financial returns.
Project Steward, Camia Young, says reaching the 300k mark is significant because it means the Lyttelton project can now proceed to the next stage of development.
“Collett's Corner provides a way to distribute wealth more fairly and begin to close the inequality gap that divides our society.” We call this 'Compassionate Capitalism' she says, enabling many people to make a little, instead of a few people making a lot.
The PledgeMe Campaign still has 19 days left to run and is hoping to raise a final target of two million dollars.
Ms. Young says the “Collett’s Corner project offers a new way to engage with communities so they can be involved in designing and owning the buildings they really want and need.”