Prodigy Network, one of the first crowdfunding for real estate platforms, has announced the launch of “Prodigy Design Lab”, the very first crowdsourcing platform dedicated to real estate, architecture, interiors, and urban planning. The first competition hosted on this new platform is for the design of the interior spaces of Prodigy Networks newest project, 17John. As the worlds first Cotel (think Condo + Hotel), a term coined by Prodigy Network, 17John will be an innovative hotel designed for the modern business traveler where guests can network, share ideas and foster like-minded connections.
This community-driven design effort will be hosted online on Prodigy Design Lab and will focus on three separate competition categories. Each category is focused on a different part of the Cotel experience, including collaborative public spaces, guest suites and digital services. The finalist for each category will be determined through online voting that will last for two weeks. Winners will be selected by the competitions jury of experts, including
- Prodigy Networks CEO and founder, Rodrigo Nino;
- Piers Fawks, editor-in-chief and founder of PSFK;
- Graham Hill, founder and CEO of LifeEdited;
- Karim Lakhani and Professor of Business Administration at Harvard Business School and Director of NASA Tournament Lab.
We have learned that crowdfunding not only democratizes investments, it also makes projects viable that otherwise would not be possible. 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, said Nino.
17John is located next to the new Fulton Center, the third-largest transportation hub in Manhattan, and one block away from the new World Trade Center. 17John is an extended stay Cotel designed to service the growth in the financial district and beyond. Individual accredited investors can purchase REPs (Real Estate Participations) of this project for $50,000 each. Once completed, 17John will stand 23 stories high, and have 191 furnished units. Architects will combine the buildings existing classic architecture with the modernism of a glass tower to showcase 17Johns extensive views of Manhattan.
Prodigy Design Lab had their kickoff today, on February 20, during the panel, Crowdsourcing and Crowdfunding: A Social Media Revolution In Real Estate at the Highline Studios in New York City.
Social Media Week guests will be invited to participate in Unplugged Playground, a one-of-a-kind collaborative installation with mural artist Rafael Esquer, featured as part of Social Media Weeks Interactive Gallery. The exhibit, meant to represent a part of the 17John Cotel, will start as a fully white room, or a blank canvas, where guests will be encouraged to share their artistic expression in the exhibit. The production of the mural will take place throughout the week and will engage the crowd to create a visual representation of the power of the collective mind. The crowd will also be able to contribute and follow the murals progress through #smwprodigy.