See the CityDAO Embassy’s Concept I have been referring to the past few months.
This is a working document but posting here for feedback and also to gauge opinions and thoughts.
The logistics need clarification but timeline for starting this project would be aiming for May 22’.
This is cool, to the extent the community would intend to lease the Embassy spaces (as opposed to owning them), we can RFP favorable terms with a good international broker and real estate/legal guilds can help with the leases!
Lease and have co-tenancy with other DAOs to achieve scale and awesomeness.
@lyons800 what do you think?
I’m not entirely sure what structure is optimal yet.
I do think that CityDAO should look at co-hosting one of these with another dao tenant, that would be cool.
However, im still torn between the dao owning vs. leasing the building.
Owning in my mind gives us a longer term feel and the DAO would be accumulating assets under its name.
Of course, the purchase would not be using the DAO treasury and i would propose it is done in a similar fashion to RealT. Security Tokenising the property and raising capital that way. We could easily look at buildings 5mil + that way.
Similar to above, I understand the benefits to a lease, however, a lease on a building this size in NYC or similar is likely to be 150k + per year which I dont see why we shouldnt try to loan to buy these buildings.
A lease allows a Party like CityDAO to get long term rights and benefits of use without needing to participate in the entire risk and opportunity of the real estate.
Speaking of risk & opportunity, here’s great reading to learn:
Real Estate Finance and Investments Risks and Opportunities https://www.amazon.com/dp/069299663X/ref=cm_sw_r_cp_api_glt_i_TDNDVVNAKSN9AFK31V5H
Are there already legal structures in place for leasing or owning under CityDAO? Both seem viable options.
This is a great idea. Need some physical space for people to visit and connect. I know in the past we have briefly discussed a university or college. Then a physical campus space. Still a long way out in terms of execution, but these ideas could be merged.
An LLC like CityDAO LLC can sell or lease Parcel 0. It can be the buyer or Lessee too of other properties.
Glad you like this idea. Want to run with it?
I think this should be parcel 1.
I’m a big fan of the campus idea too. I’m meeting with someone soon who works at a cyber charter school, and I’m going to create an Education Guild proposal as well.
Awesome. Keep me in mind if you form an education guild. I think metaverse university/college/education will be the future. Having some form of physical space thought would be really ideal. If CityDAO explodes, it would have the ability to offer such spaces around the globe. Clearly a long way off, but a great idea I think to keep in mind as things grow.
Yes, absolutely. We’ll need all the help we can get. I think physical proximity is very important for education. I just had a long discussion about this with my Organizational Behavior class I taught this morning. And I’m strongly in favor of spaces around the globe. The idea of having rooms in different places that are all part of the classroom is great.