London

Crowdfunding to facilitate neighbourhood ideas

How the Greater London Authority uses crowdfunding to build projects — and community.

In a time of fiscal austerity, crowdfunding is a way to keep momentum behind community projects as it allows the actual implementation of neighborhood ideas. The Greater London authority has set up a crowdfunding pilot programme to look at how the Mayor can pledge funding to citizen-led projects and contribute toward community-driven ideas for improving urban spaces.

“City officials have come to see crowdfunding as an important tool for what is essentially a new form of participatory budgeting. It’s a bottom-up democratic method for transforming the built environment that simultaneously fosters  community engagement.”

The Peckham Coal Line urban park is an example of a successful project from an earlier round of the Authority’s crowdfunding programme. It will be an elevated urban park built on disused railway coal sidings to form a natural, physical and social link between two high streets.

Read the full article for Citiscope by Athlyn Cathcart-Keays here.

 

comments
comments on this article
There are comments on this article
Comment
in London
comments on this article