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

    The Hidden Rooms Within New York's Public Housing

    A new study from New York’s Independent Budget Office reveals that nearly a third of public housing units are under-occupied, often by older residents living alone. But can the city find a humane fix?

  2. Equity

    What Did and Didn't Make the Final GOP Tax Bill

    Lots of small changes—but one big thing stays the same.

  3. U.S. Embassy in London
    Design

    America's Passive-Aggressive New Embassy Arrives in London

    Why can’t we let bunkers be bunkers?

  4. Environment

    The Story of the Great Lakes in 8 Maps

    The book Third Coast Atlas seeks to illuminate the Great Lakes—America’s “third coast”—through maps, plans, photos, and more.

  5. Equity

    Booming Boise Picks a Fight With CVS

    The small Idaho city is facing an influx of newcomers—including chain retailers—that some fear will threaten its smart-growth vision.