Abstract

The article examines the process of verticalizing the municipality of Estación Central, focusing on the link between the tenure structure (ownership) and the deployment of a specific type of internal governance. Through a qualitative approach, the building is observed as an object of governance, inquiring into the elements that shape the internal governance of the five towers with the highest level of precariousness in the physical characteristics of the building, within the polygon with the highest real estate development in the municipality. The results indicate that the construction of the internal governance of the towers is based on the conformation of the real estate business triangle, a figure made up of the three areas of participation that real estate companies exercise in residential production: construction, investment (rent) and administration. This triad of spheres of participation not only represents the expansion of a business model, but also defines the basis of a particular form of governance, a scheme in which density of ownership implies density of power, revealing that, rather than dealing with the business of housing, we are dealing with the business of inhabiting.