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. Environment

    Let's All Swim in the Once-Filthy Canals of Paris

    Unlike many cities, the French capital has made good on its promise to re-open urban waterways to bathers. How did they do it?  

  2. Transportation

    Do Driverless Cars Need Their Own Roads Around Manhattan?

    A concept for AV expressways promises to reduce travel times, but falls into an old trap of car-centric planning.

  3. The Salk Institute, near San Diego
    Design

    This Is Your Brain on Architecture

    In her new book, Sarah Williams Goldhagen presents scientific evidence for why some buildings delight us and others—too many of them—disappoint.

  4. Equity

    Trump to the Rust Belt: Move Somewhere Else

    The president told upstate New Yorkers to move to a red state with jobs, even as his planned budget cuts promise to make their lives more difficult.

  5. Equity

    Why Jimmy Carter Believes Housing Is a Basic Human Right

    Richard Florida talks to the former president about housing, Habitat for Humanity, and how government assistance enabled their current success.