A Denia housing development will go ahead thanks to €4.6 million raised from over a thousand commercial investors via the Urbanitae crowdfunding platform.
63 apartments will be constructed- five minutes walk from Les Rotes beach.
The development will include a garage, storage rooms, a garden, swimming pool and social club.
1,072 investors backed the project from Inmobiliaria Espacio with a starting price of just €500.
They each become a partner of the promoter which allows them to get rent or even a lump sum when the homes area sold.
The capital will be used to pay the start-up costs of the project named as l’Alqueria, until Inmobiliaria Espacio obtains a bank loan to finish things off.
The urbanisation will have ‘all the necessary services for day to day’ according to the promoter with ‘affordable prices and common areas’.
MORE COSTA BLANCA NEWS:
- Work to reopen Costa Blanca railway line in Spain closed in 1975 could cost up to €250 million
- Child thieves lead wave of racing pigeon robberies in Costa Blanca area of Spain
- British woman arrested after ATM customer is sprayed in bungled robbery on Spain’s Costa Blanca