policymic:Life inside Caracas’ unfinished skyscraper Centro Financiero Confinanzas, the world’s ta
policymic: Life inside Caracas’ unfinished skyscraper Centro Financiero Confinanzas, the world’s tallest slum It was meant to be world financial center and the third-tallest building in all of Venezuela, known for its sprawling cities and staggering inequality. But in 1994, construction was halted on the building after four years thanks to a banking crisis that saw 17 of the nation’s 49 commercial banks fail. Over time, the abandoned building was colonized by squatters from nearby slums. Today, the tower is the world’s largest vertical slum — dubbed “Torre David,” or “Tower of David,” by residents — the structure hosts a self-contained community of roughly 3,000 people in over 750 families spanning 45 floors, each with their own shops and services. Residents pay a $32 monthly condo fee for 24-hour armed security and run a co-operative mini-government, with non-compliance for the rules being punished with “social work” like chores and repairs around the building. Read more | Follow policymic -- source link