Last Spring I caught wind of a project called ONESHAREDHOUSE, a self-initiated effort by superstar creative agency Anton & Irene. OSH explored concepts in coliving, inspired by Irene’s formative years in a Dutch lesbian co-housing arrangement (they also made a badass interactive documentary that you should check out). OSH caught the attention of SPACE10, a Copenhagen-based, IKEA-funded “future-living lab” that is tasked with detecting trends that might affect the furniture behemoth’s business in the years to come. One of those trends is “shared living,” and the two parties collaborated to make ONESHAREDHOUSE2030, a research project exploring the future of shared living.
SPACE10 was in NYC this last week and held an event the other night in Brooklyn, which I attended. Some takeaways:
Continue reading “Are we over-sharing (housing)?”
Coliving—that housing typology for stock-image-looking, experience-loving, stuff-hating, taupe-upholstered-furniture-sitting, high-earning urban millennial professionals—is getting some serious attention from investors. A month ago, reigning champ Common raised a rock solid $40M Series C (making a total of $63.4M to date), and then last week, NYC-based coliving operator Ollie snagged a $15M Series A.
These investments are good indicators that coliving may enter the real estate asset class canon after all. For the last few years, this event seemed less than assured.
Some claimed coliving was for losers. Others pointed to WeLive as evidence of the model’s inherent flaws. If you recall, WeLive is WeWork’s Icarian initial residential outing, consisting of two retrofitted ~30 story buildings; their overstyled, overpriced units now appear to be packed with company friends, family, and “ambassadors” paying discounted rents. Others assumed that big developers would eventually make their own coliving buildings, cutting out the expensive coliving operator.
Continue reading “Take my building, please: Do recent investments mean coliving is here to stay?”