Jamison Manwaring

Neighborhood Ventures is growing its crowdfunding business for non-accredited investors as the result of strong demand. The crowdfunding firm is the first of its kind in the growing Phoenix market to cater to non-accredited investors, and has now opened a second offering in the market. Venture on Marlette is a 12-unit, two-story apartment complex with a mix of two- and three-bedroom apartment units and potential upside with a value-add business strategy. This is the second offering from the firm, which says that there is significant interest for crowdfunding investment opportunities in the Arizona.

“We have seen significant interest from Arizonans who want to invest in local commercial real estate projects through crowdfunding,” Jamison Manwaring, CEO and co-founder of Neighborhood Ventures, tells GlobeSt.com. “Our first project in Tempe attracted over 100 investors and raised $500,000. We had to close the fundraising a week ahead of schedule because we sold out early. In the first 10 days of fundraising for Venture on Marlette, over 60 investors have participated raising nearly $250,000.”

Manwaring says that its latest offering is ideal for its investor pool. “Venture on Marlette is located in an up-and-coming neighborhood along 7th Street in Midtown Phoenix,” he says. “This area includes a host of new restaurants and entertainment including the Yard and Culinary Dropout, Pita Jungle, Old School, Spinato's Pizza and AJ's shopping center. Built in 1962 of block construction decorative brick patterns throughout exterior, with a private entrance from the rear with covered parking.”