Real Estate Investment in the Hands of the 99%

A new skyscraper is set to grace skies over Bogota, Colombia. Instead of one wealthy developer, the tower is being funded by thousands of people, each with their own stake in the property.

Colombia's tallest building when completed, the structure will rise to 853 feet at 66 stories. Called BD Bacatá Downtown, it will be "the first skyscraper built by famous common people" say its developers. "Bogota's tallest building is rising with $145 million supplied by 3,000 investors," writes Fast Company's Michael J. Coren.

"BD Bacata's backers say they will expand this model 'to the 99%' by developing amusement parks, clubs, malls, and resorts with capital from small investors (although most of those '99%' do not have $20,000 in investment capital, twice the annual income of the average Colombian)."

A similar approach to financing urban development is being pioneered in the U.S. by Fundrise, a Washington D.C.-based startup that is currently attracting investors for a building in the city's H Street Corridor.

Full Story: A Crowdfunded Skyscraper Rises In Colombia


building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.

Prepare for the AICP* Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245

Stay thirsty, urbanists

These sturdy water bottles are eco-friendly and perfect for urbanists on the go.

City Coasters

Hand-drawn engraved maps of your favorite neighborhoods are divided up across 4 coasters making each one unique.