Season 242 Episode 8296
S1 E61 - Big Developer Opens Offering to Small Investors in Old Town Alexandria Project - Joel Mill
"Wall Street Capital Partners’ CEO Joel Miller Explains the Motivation for Raising Capital via Crowdfunding on Small Change Portal http://s4g.biz/07mar24 AI Episode Summary 1. Devin Thorpe, the host, introduces Joel Miller, CEO and founder of Wall Street Capital Partners, during the ""Superpowers for Good"" show. 2. Wall Street Capital Partners is a development firm in the Northern Virginia area, originally branching out from its sister company, Wall Street Capital Advisors. 3. The company has a history of providing debt and equity for various commercial projects, including office, multifamily, and retail, and is now also engaged in development. 4. They are working on a unique project called Old King Henry in Alexandria, Virginia—a historic district with limited supply and affordability issues where development is challenging due to restrictions. 5. The Old King Henry project involves redeveloping surface parking into multifamily housing over retail, located conveniently near the waterfront and metro. 6. The project provides a percentage of affordable housing units, which is unusual and challenging to achieve in Old Town Alexandria but was important to the developers. 7. A mechanical parking system is utilized in the project, which allows for efficiency by reducing the need for deep underground or large above-ground parking structures. Cars are parked and retrieved by the system, reducing space requirements. 8. Part of the project includes townhomes with private balconies, and Joel emphasizes the opportunity for minority visibility in the retail spaces. 9. Joel's partner has an extensive background, having developed over 15,000 units of multifamily housing, with the Lumen in Tysons Corner being a notable example of past successful projects. 10. The capital raise for Old King Henry through the platform Small Change is highlighted, demonstrating Joel's commitment to community involvement and allowing people to invest in the project for as little as $1,000. http://superpowers4good.com "
