The land for this project, consisting of three privately owned plots, in 2008 was declared by the council as “priority development” due to its having development potential but being unimproved by its owners. With the declaration, the owners have a period of two years to plan its development. Due to the owners’ failure to fulfill their obligation after two years, the City auctioned the three plots. Two of them were bought by a builder who, according to the rules, had the obligation to build only social housing on the plot. The third plot auctioned, due to not having a buyer, was acquired by the City’s Metrovivienda land bank, as the law required. (Metro Vivienda  is located in Bogota as a land bank.)

Metrovivienda and the builder signed an agreement that allowed that land that had regulatory conditions for urban consolidation but was unbuilt, would be built on, generating 392 social housing flats. Thus, the three plots that were privately owned were auctioned to generate social housing, were acquired by the builder, were completed with the construction of the project, and also paid Metrovivienda the investment that the city had made in land acquisition (purchase). Thus, the majority financial investment of 392 social housing projects came from the private agent, not the city council.