Will the Future of Urban Planning Be Crowdfunded?

Bogota, Colombia is growing "like a pancake," as Rodrigo Nino, real-estate pioneer, says in the video below. Like other cities around the world, as the population quickly expands, Bogota is expanding outward. All that sprawl leads to traffic congestion (the average commute can take up to 90 minutes) and pollution. A more liveable, walkable city would require building upward, with skyscrapers, but it's hard and slow to get city or bank funding. Nino's solution? Crowdfunding.

Inspired by Kickstarter, but realizing that the projects on Kickstarter weren't necessarily relevant in Colombia, Nino created a company that's dedicated to crowdfunding real estate. 3,000 Colombian citizens came together to fund Prodigy Network's first skyscraper, which will be finished next year. Up next, Nino is crowdsourcing ideas for an entire city through a new platform called My Ideal City, and plans to fund the city through the crowd as well. How could this model be used in other cities? If sustainable urban planning isn't happening fast enough, should we turn to the crowd?


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Bogota image by max blain /