Crowdfunding platform set up to design world’s first ‘cotel’
(Relaxnews) – The Prodigy Design Lab, being billed as the first crowdsourcing platform dedicated to architecture, interiors, and urban planning, launched in New York this week with a competition to design the world’s first ‘cotel’.
Coined by The Prodigy Network, the term refers to a ‘collaborative hotel’, where the modern business traveler can network and share ideas. The group’s first project is 17 John, located one block away from the new World Trade Center in Manhattan.
The competition will see entrants design the interior spaces of the hotel, for the categories of public spaces, guest suites and digital services. The finalist for each category will be determined through online voting that will last for two weeks and the eventual winners selected by a jury of experts.
“We have learned that crowdfunding not only democratizes investments, it also makes projects viable that otherwise would not be possible,” said Prodigy Network’s CEO and founder Rodrigo Nino.
“The next step is to create a way in which the crowd can design our crowdfunded projects and this platform is the international stage to showcase the creativity and ingenuity of the community.”
17 John is an extended stay ‘cotel’ which, once completed, will stand 23 stories high and have 191 furnished units. Architects will combine the building’s existing classic architecture with the modernism of a glass tower to showcase its extensive views of Manhattan.
Founded in 2003, Prodigy Network is the leader of the world’s largest crowdfunded skyscraper, BD Bacata, and has led six international and US-based crowdfunded projects.
Individual investors can purchase real estate participations of 17 John for $50,000 each. To visit the Prodigy Design Lab and for more information on how to participate see prodigydesignlab.com