I had come across this project before in reading Local Dollars Local Sense, but it seems it has gained much more momentum and could be close to being a catalyst in changing the real estate development game.
Check out this article from the Atlantic Cities to see first, what is wrong with how we invest, and second, how to improve the system which is currently broke.
Think of it as Kickstarter for real estate if that makes it any easier to understand. Technology is changing the game of how people are connecting to the places right around them. There is a HUGE amount of potential with this idea and I believe it could be one that leads us out of the chain brain-drain we are currently stuck in.