The Patch of Land Blog

Learn about all the latest happenings.

Durst Heiress's Cultural Capital Inspires Real Estate Crowdfunding

A Famous family, an heiress and an idea connects real estate revitalization and the world of art with the possibility of abundant real estate crowdfunding. Anita Durst, one of three heirs to the Durst real estate empire has created a cultural empowering engine. Chashama, a non-profit organization, formed to provide artists with space to create, while revitalizing communities came to life in 1995. Ms. Durst’s brainchild continues to transform underutilized properties into work, presentation and living spaces. Chashama has since revitalized over 80 underused properties, while providing creative space for more than 12,000 artists. What does this have to do with real estate crowdfunding, you may ask? The innovation and successful fruition serves as example of a concept limited only by the funds and human fortitude available. The draw of art, community revitalization, seniors and youth specific supporters creates the basis for an optimal real estate crowdfunding environment.

Real Estate Crowdfunding, Of Course

"Culture is the sum of the values, beliefs and assumptions of human groups.” ~Max McKeown, The Innovation Book

We can all achieve that of heirs. While Anita Durst’s talent is well known and very highly respected, so is her family’s bank account. A few hundred thousand dollars is not at all of our fingertips, but a collective team to create such is. Real estate crowdfunding campaigns have proven to serve many vacant properties, with the same amount of money, funded by a collective team. There is power in numbers.

Housing and Exposure in Exchange for Giving Back

On June 8, Chashama held their annual Gala to raise funds to help launch the Bronx Artists’ Housing Initiative. Chashama’s goal to raise $350,000 was surpassed, and the night sky revealed more than one big-dipper, as $375,000 in donations totaled. real estate crowdfundingTeaming with the Mid-Bronx Senior City Council (MBSCC), the funds will provide subsidized housing and a small stipend to participating artists, in exchange for their commitment to donate at least 20 hours a month to community service with seniors and youth groups. 10 Apartments will be available in the 2015/2016 year, and an additional 10 are planned in 2017. Along the 20 artists who will receive a one bedroom apartment for only $700-$900 per month rent, many more Artists receive free exposure to the most discriminating buyers in New York’s famous art world. Such exposure and fascinating venues would otherwise be almost impossible for a singular artist, without Ms. Durst’s connections, to gain on their own.

Related: Right A House for Writers

Vacant Properties Welcome Chashama

real estate crowdfundingProperty owners and Chashama form a simpatico partnership, stimulating vacant properties by not only utilizing unused spaces, but also by bringing in new faces. Over 130 free public events garner exposure and new personal connection to local businesses in areas that may otherwise be under-marketed. The Morrisania and Concourse neighborhoods of the Bronx are beneficiary to Cashama's real estate revitalization with, both, cultural and financial capital raised. As for real estate crowdfunding? Well, several of the artists served have started their own crowdfunding campaigns. Like Elephant in The Room's successful crowdfunding campaign of 2012, many successful crowdfunding campaigns have ended, circling back to supporting real estate.

Not only are such campaigns helping to raise money for these Chashama events and art-lover followings, but the same campaigns are also providing financial and marketing support for revitalizing otherwise lost properties. I find it amazing how many general crowdfunding campaigns, while not started with a specific real estate crowdfunding focus, end with the greatest application being placed toward real estate. So, remember the Patch of Land real estate crowdfunding campaigns that cut to the chase, and begin completely focused on real estate. Revenue, from there, can be applied anywhere.

Related: Zombie Attack~Real Estate is The Cure

What Can Seed From Ashes?

Even more than revitalized communities.

  • Alfred Alonso, Spanish broadcasting & radio executive.
  • The Wrens, rhythm and blues band of 1950’s.
  • Lovebug Starski, hip-hop artist of the 1970’s.

All three grew up in the Morrisania/Concourse area of the Bronx: An area that most outsiders might judge as a home exclusive to crime, arson and desperation. Why would we invest and bring arts to a neighborhood so widely considered a mecca for crime?

  1. It isn't new. Chashama is just bringing art back, yet at an entirely new level.
  2. Property values make real estate in these neighborhoods generally more attainable.
  3. Revitalization touches more than just the community undergoing revitalization.
  4. All human condition inspires progress to a degree that is unparalleled by the vision of watching communities sprout from the ashes.
  5. We are all humans, capable of talent and success commensurate with what we see as possible.

Morrisania’s low-income community was ravaged by fire in the 1970’s, and most of the residential structures were later leveled. Good does grow out of the ashes. Now, Chashama is adding an artistic influence to the community. Community revitalization to a degree that all can realize through real estate crowdfunding.

Click here to View The 18 Currently "Active" Spaces

What Would You Do?

Anytime I read of a well-monied person or company using their vast resources to accomplish good, my mind turns to the “What-if’s” of real estate crowdfunding. What if my collective team could form the knowledge of a real estate genius, like Anita Durst’s Grandfather? What if my collective team could form the financial power of an heiress, like Anita Durst? So I ask you - What would you build for your community if you had access to unlimited capital?  Leave your thoughts in a comment below!


If you want to learn more about crowdfunding, take a look at some of the most commonly asked questions we receive about real estate crowdfunding on a daily basis and find out why so many people are crowdfunding real estate projects across the country with Patch of Land.
New Call-to-action
If you still want to know how Patch of Land works for professional real estate developers and accredited investors, please visit Patch of Land’s FAQ section and learn more today.



If you want to learn more, take a look at some of the most commonly asked questions we receive about real estate crowdfunding on a daily basis and find out why so many people are crowdfunding real estate projects across the country with Patch of Land.
New Call-to-action
If you still want to know how Patch of Land works for professional real estate developers and accredited investors, please visit Patch of Land’s FAQ section and learn more today.

Comments (Please allow 24hours for approval)