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Bronx creative district project Bogota, Colombia

Bronx creative district project Bogota, Colombia

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Carlos Martínez Bustelo
Carlos Martínez Bustelo International and Business Development Director

Planning, articulation, development and implementation of the Bronx creative district project.

The aim of the Bronx Creative District (BCD) strategic project to be implemented in downtown Bogotá is no less than the social, cultural, and economic transformation of the old Bronx District by means of an urban renewal process by establishing economic activities associated with creativity, culture, innovation, entrepreneurship, and artistic and cultural content.

The project will transform underused areas into drivers of economic and social development, contribute to enhancing security in the district, and promote cultural activity through the creation of new dynamic, people-friendly sites. Located at the heart of the city's creative ecosystem, it will also work as a potent kick-starter for revitalisation of the capital city’s centre.


In the 18th century, this district, located between 9th and 10th streets on Caracas Avenue, was an open area called La Huerta de Jaime on the outskirts of the town of Santafé de Bogotá. As such, it was the scene of struggles between Federalists and Centrists in the early 19th century and witnessed the executions by firing squad during the Reign of Terror that followed the wars of independence and foundation of the Republic of Colombia and to which the area owes its name: Los Mártires. Later, the Bogotá with its modernist aspirations saw the establishment of the National School of Medicine (“La Facultad”) in 1916 and shortly afterwards the Geological Museum of Colombia (“La Flauta”) in 1940. However, after the Bogotazo of 1948 — massive civil unrest in response to the assassination of a liberal politician — historic downtown Bogotá was marked by progressive deterioration and degenerated into a hotbed of crime and violence that earned it the nickname “the Bronx”, until it was cleaned up after police action in May 2016. Consequently, the area is in urgent need of reintegration into the social fabric of the city. This transformation will be driven by the “Bronx Creative District” as an environment for entrepreneurship and creative economic activity.

Provided Services

The Empresa de Renovación Urbana (Urban Renewal Corporation) and the Gilberto Alzate Avendaño Foundation selected the BCD Consortium (ICEACSA, subsidiary of Antea Group - Bonus Banca de Inversión) to conduct a comprehensive feasibility study of the project which in turn will generate the business model and facilitate the design, permitting, construction, operation, and maintenance of the Bronx Creative District.

These services will include drafting the due diligence report on the current conditions of the project and its feasibility, a market study, identification of potential investors, development of the architectural blueprint and technical studies of the buildings and urban development, legal analysis of the granting authority and of the business model, as well as a financial and risk analysis of the latter.

Around 38 million USD will be invested in the Bronx Creative District and will include a proposed solution to join La Facultad and La Flauta — the two buildings that form the architectural backbone of the district — into a single ambience. Both are listed as national heritage assets and their structure and façades are still intact. The buildings will be linked by a translucent roof over Carrera 15 which will provide space for a small plaza where events related to the creative industries can be held. A new building will be added and the group will host premises for creativity and commerce, studios, workshops, galleries, a museum house, and dedicated areas for cafés and restaurants.

Key Figures

  • 1 Commercial zone
  • 1 New building
  • 2 National heritage assets involved
  • 38 million USD Invested

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Have any questions?

Carlos Martínez Bustelo
Carlos Martínez Bustelo International and Business Development Director

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