Real Estate Investment in the Hands of the 99%
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.
Topics
- Recycling Is Cancelled
- Seattle Gives Final Approval to 27 Upzones
- The Case for Fourplexes in Portland
- Pop Quiz: Can You Identify Cities By Density Alone?
- Chinese Cities Build Big Despite Shedding Residents
- Santa Monica Pedestrian Mall Wants People to Hang Out
- Scrutiny for HUD Secretary Ben Carson's Schedule
- Where a Freeway Plan Failed, a Development Opportunity Rises
- Reducing Motor Vehicle Traffic in Cities
- Jeep Plant Isn't Getting a Warm Reception From Detroit Residents
- When Traffic Solutions Cause Travel Delays
- The Many Ongoing Public Transportation Projects of the Bay Area
- On-Demand Shuttle Pilot Operating in Los Angeles
- Obama Presidential Center Still Facing Controversies
- Congress Intends to Ban Chinese Rail Cars
- Study: Housing Crisis Stems from Inequality (Not Zoning)
- Phoenix City Council Shifts Voter-Approved Light Rail Project Funding to Roads
- New Additions Coming to the Detroit Skyline
- Asking for Forgiveness
- The Fascinating Transformation of Suburban Architecture
