Crowdfunding + Urban Planning and Design

The following post is a writeup created for “Magyar Urbanisztikai Tudásközpont Nonprofit Kft./Hungarian Urban Knowledge Centre (www.mut.hu)” providing case-study research surrounding the topic of sustainable city developments. 

Site Source: The City Fix

Article Title: Friday Fun: You too can build a sustainable city through crowdfunding

Author: Ryan Schleeter

Crowdfunding is increasingly being utilized within the urban planning and design realm as a means to sponsor urban renewal projects.  Crowdfunding encourages citizen oriented design projects to raise money towards urban improvement projects such as; parks, gardens, and public spaces. To encourage sustainable results from crowdfunding local governments can sign up on citizinvestor.com, which is a platform that raises money for civic projects. An additional source for cities to establish their own platforms for crowdfunding is Citizinvestor Connect. This crowdfunding source allows citizens to voice their opinions about specific project ideas that could be utilized to establish more sustainable civic environments where they live.

The idea is that by allowing citizens to participate within the donation process of public projects, they create a more inclusive and sustainable urban planning process between citizens and governmental agencies. Although there are some pitfalls to crowdfunding; such as possible inaccessibility to citizens whom lack the ability to provide financial support. The many positive potentials for new capital to fund artistic and economic ventures is advantageous for many cities and countries. Crowdfunding can be utilized within a plethora of projects ranging from renewable energy technologies, to start-up ventures and real estate development. Crowdfunding will aid in meeting the needs of citizens by reimagining cities through a sustainable and inclusionary process.

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