The Real Deal New York

Prodigy Network looks to the masses for 17 John Street redo

Developer aims to solicit design ideas for conversion project by crowdsourcing

A Manhattan-based developer that aims to raise $31 million from equity investors in $100,000 increments to convert an apartment building at 17 John Street into an extended-stay hotel is also crowdsourcing the property’s design.

The developer, Prodigy Network, which previously raised $171 million in $20,000 increments for its mixed-use skyscraper project in Bogota, Colombia, is in the process of doing the same to create a 23-story “cotel.” What’s a cotel? A building that fuses a hotel, co-working space and a LinkedIn-esque environment by offering extended-stay suites, business network events and collaborative working environments.

The firm is also gathering ideas for the design of its suites and public spaces by crowd sourcing, launching a public design competition Feb. 20 to tap the community for ideas. The design forum will kick off during Social Media Week in New York.

The hotel aims to create a space upon completion that offers an online digital platform enabling guests to connect, as well as a full suite of traditional high-end hotel offerings such as a restaurant, gym, spa and rooftop deck. [inhabitat]Julie Strickland