BD Bacatá: The World’s First Crowdfunded Skyscraper

Kickstarter, a site based on the seductive idea of “crowdfunding” – in which consumers collectively invest in a product in order for it to become reality – has taken on a life of its own. From straightforward consumer products (like a cool watch) to creative projects (Roman Mars’ radio show) and even to large-scale Urbanism projects (including an entire riverwater pool), Kickstarter has evolved to finance ever more complex, ambitious, and risky endeavors.

But are there limits? Can you harness the purchasing power of the public to “crowdfund” anything? To, say, design/build a city?

Well, if ’s BD Bacatá building, the first ever crowdfunded skyscraper, is anything to go by – the answer would seem to be yes.

More images of the first ever crowdfunded skyscraper, BD Bacatá, after the break…

Rendering of BD Bacata, Image via Wikimedia CC User Sbgaga28

At 66 stories tall, the mixed-use residential/commercial building, BD Bacatá will be the tallest skyscraper in Colombia, with a colossal price tag to match. However, instead of relying on one developer to finance the $240 million project, a group known as Fidi Global has pushed a different model for the skyscraper: to have Colombians fund the building themselves. After an extensive advertising campaign on billboards, radio, and TV, more than 3,000 people (see the video above) have invested in a share in the building and raised over $145 million so far.

Fidi Global has used this approach to fund clubs, hotels, malls- and now skyscrapers. If BD Bacatá proves a success,  then the logical next step could be to “crowdfund” and develop not just more buildings, but our cities themselves.

Do you think we could realistically “crowdfund” our built environments? Let us know what you think in the comments below…

Story via the Atlantic Cities

BD Bacata, the Crowdfunded Skyscraper
BD Bacata
BD Bacata Shopping Mall. Image via Fidi Global.

Cite: Quirk, Vanessa. "BD Bacatá: The World’s First Crowdfunded Skyscraper" 26 Sep 2012. ArchDaily. Accessed 21 Nov 2014. <http://www.archdaily.com/?p=276433>
  • Eduadro

    I from Colombia, and I have never seen a project with such a great amount of advertising in prime-time spots in the national television and radio network… they have been expending millions (hundred thousands of dollars) in marketing campaigns for nearly two years now. I wonder how that can be financially possible. The project is years from completion and they have already incurred in substantially negative cash flows (much more than usual). I guess this advertising cost will go in detriment of the so call “investors” profit. Any how I just hope these model works and these peoples’ money won’t be dilapidated.

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  • kris

    Bardzo interesujące.Chętnie dowiem się więcej o tej ideii finansowania.