Colombia Skyscraper Crowdfunded!

By Penny Munoz

Over a decade of massive population growth in Colombia with little-to-no efficient urban planning in place has stimulated a community response that is bringing locals together in building the nation’s tallest skyscraper. As the first skyscraper to be built in 40 years, this green development in Bogota is drawing international attention because it will be the largest crowdfunding campaign to mobilize a project of this scale in the world!

The BD Bacata will be a 1.2 million square foot project with apartments, retail and office space and a 364 room hotel. Facilitated by Prodigy Network, the project will be made possible by the contributions of over 3,800 Colombian citizens who crowdfunded $200 million in cash (for which they received corresponding shares).

What is truly inspiring about this project is the sense of community that it exemplifies. As a community-responsive urban design, this project is a solution to a problem that was sorely in need of being resolved. Real estate projects in the maturing city of Bogota were hindered by lack of funds and resources. According to the entrepreneur behind Prodigy Network, Rodrigo Nino, urban sprawl in growing cities like Bogota is caused by rapid population growth that is not matched by effective planning. This is undesirable for many reasons, but most importantly the amount of increased traffic and street congestion end up having detrimental effects on the city’s carbon footprint.

The strong response from community members speaks volumes of their desire to increase the value of the city as a whole, coming from a unique angle, these financial contributors are more than just investors. The project is being built by the community, for the community. It is also an inspiration for cities suffering from similar issues of limited available funds, offering an uncommon solution. Crowdfunding has the potential to effectively support large-scale projects and offer more than just financial return. In the case of BD Bacata, this opportunity will create new, comfortable living spaces for families and employment possibilities to locals, while reducing the harmful impacts on the environment, which raises the overall value of the city.

The design for the project will implement innovative environmentally conservative technology like a water management system that will avoid wasteful runoff and use a three cycle system of greywater reuse. Maximizing the use of a cutting edge technological drainage system, the rooftop garden will collect rainwater for the building’s maintenance. The building will also use climate control technology for temperature and lighting control. Accessing studies based on Bogota’s average seasonal temperatures, the project team was able to design the building in a way that will maximize the use of natural light. This alone is expected to reduce energy consumption by 30%. These studies have also made it possible to cut air conditioning and heating associated costs in half using insulation and strategic window, wall and concrete slab placement.

Images via Inhabitat.com