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Metronomics touts new crowdfunding opportunities in Miami

By Mike Wheatley | February 25, 2016
  • Crowdfunding in real estate is all the rage these days, so much so that there's a growing niche for so-called 'local' crowdfunding platforms specific to one location or type of development.

    GroveHaus

    That seems to be the case with Miami-based urban infill developer Metronomic Inc., which today launched its own private crowdfunding platform that's focused specifically on viable, in-demand urban landfill developments in the Miami area.

    Crowdfunding has benefits for both investors and project creators. For investors, it gives them access to opportunities that would otherwise be unavailable to them without making a serious financing commitment, as is always the case in real estate. For project creators, it gives them a much wider pool of financial resources to potentially tap into.

    Metronomic's crowdfunding efforts begin with two projects in Miami's core. First up is “GroveHaus” in Coconut Grove, a boutique rental community that's scheduled to break ground in the next couple of months. Second is “Plaza Celia”, a Little Havana residential and retail development that's also set to break ground this year.

    “There is incredible demand in Miami for market-rate rentals of all types within the urban core,” said Metronomic’s President, Ricky Trinidad. “The ability to not only build this much-needed residential product, but to utilize an investment platform that allows for community participation in the development process is a win/win for all.”

    To invest via Metronomic's crowdfunding platform, investors will need to get themselves accredited and verified first, though the company says the process is “quick and simple”. Alternatively, investors can choose to invest via a third-party company. For community members, Metronomic is offering them the chance to get onboard with as little as $2,000 per investor, and the company claims its investors can receive up to 20 percent preferred return on investment if the market conditions are right.

    “The opportunity to invest in highly in-demand urban infill projects affords individuals access to viable real estate opportunities that have traditionally been untenable to most,” Trinidad continued. “The encouragement of local politicians and senior banks such as Continental National Bank has propelled our efforts in this much-needed arena. We are hoping that the opportunity to fund part of these projects fosters a greater sense of pride in the community, particularly from local residents and business owners. Our goal is to launch similar projects on a consistent basis, ensuring momentum of the crowdfunding platform.”

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