Vimeo/FidiGlobal

You don't need a wealthy developer when you've got thousands of small investors.

The largest buildings in the world have come to exist through the pocketbooks of very rich people. But industrialists and oil sheikhs shouldn't be the only ones who can scrape the sky. A new crowd-sourced financing model out of Colombia shows that regular Joes – in sufficient quantities – can fund their own megatall building.

The BD Bacatá in downtown Bogotá is a proposed $240 million, 66-story skyscraper. Instead of relying on one developer, the project is being funded through a sale of shares in the building. More than 3,000 people have invested, raising more than $145 million. When completed in 2014, it will be the tallest building in Columbia.

The share model – known as FiDis and being pushed by a group called FiDi Global – has been used before to fund and divide ownership for other projects in Colombia, including clubs, amusement parks and hotels.

This promotional video explains:

via PSFK

Image courtesy Vimeo user

About the Author

Most Popular

  1. Equity

    What the New Urban Anchors Owe Their Cities

    Corporations like Google and Amazon reap the spoils of winner-take-all urbanism. Here’s how they can also bear greater responsibility.

  2. A Juggalo standing in front of Buffalo City Hall.
    Equity

    The Juggalo March Is Not a Joke

    Facepainted fans of the Insane Clown Posse are gathering on the National Mall this weekend. And they have something important to say.

  3. Equity

    This Startup Helps You Buy a House (If You Hand Over Your Airbnb Income)

    For buyers in hot real-estate markets, a new kind of mortgage offered by a company called Loftium might offer a way to purchase a home.

  4. Amazon's Seattle headquarters is pictured.
    Life

    The Ultimate List of Top Contenders for Amazon's HQ2

    We sorted through the longshots and likely contenders so you don’t have to.

  5. Transportation

    A Troubled Bike Share Takes a Time-Out

    After thefts and vandalism, Baltimore’s new bike share system has suspended operations for a month.