Happy (belayed) Friday! For some birthday reasons, those news are being tackled today (yes, I take time off, too). To sum up, this week I hosted the second #colivingmeetup in Paris (it was great) and the coliving news were mostly taken over by Common, who did a big PR push. But there are some amazing other insights I found, which I'll let you discover now.
Coliving Supply has Doubled in 2018
JLL, a real estate investment management company, recently published a study exploring how 55% the current coliving supply has been built in 2018 only. Which reminds me of how around 30% of 2018 coworking spaces have been built the same year (DeskMag study). Moreover, by 2021, the co-living supply is expected to increase by another 84% - which makes total sense based on the current growth.
How Medici Actually Started
We all heard of how Medici invested $1bn into their new coliving space concepts such as Quarter. The background story: in 2011, Gunther Schmidt, CEO of eKomi, had a harder time attracting talents to Germany because of the real estate market. His solution: he built a coliving space, allowing new workers to stay there temporarily until finding their own apartment. The co-living space’s popularity for eKomi employees led Schmidt to launch the Medici Living Group, which now provides coliving for professionals and students.
Coliving Reduces CO2 Emissions
With 3000 units, the Philippine coliving operator MyTown has published a study in cooperation with Clean Air Philippines showing that working at coliving facilities reduced greenhouse gas emissions by 875 metric tons in 2018. This is one of the first studies on the positive impact that coliving has, and we’re expecting more hard statistics to follow, which will get the attention of municipalities and investors (stay tuned for some updates on my side on this one).
UN is Looking Into Floating Coliving
The UN recently discussed a model of creating floating cities that would entail coliving models. It’s true that those models won’t solve the housing crisis in urban areas, but it’s good sign to witness that larger institutions are looking for solutions to the housing crisis in general. We can expect future urban initiatives to be next on the list.
Building Coliving… From Community Up
Urban Campus, a coliving and coworking operator in Madrid, is about to launch their new coliving space. In order to tackle the design challenges, they applied a community-centred approach: by inviting future potential residents and hosting a workshop on what the community desires. This is inspiring to other coliving spaces, as the approach tackles the needs of the community first, instead of imposing them from top to bottom.
Is "Coliving" Defined by the Space or by Living Together? (read here)
This was my question for this week. After an amazing discussion with the Cutwork team, I wondered whether "'coliving" should be defined by the space, or by the collective action of living together. My opinion summed up: you can "colive" without living in a coliving space. Would love to hear your opinion on this piece.
Crowdsourcing Collett’s Corner
Collett's Corner is a new initiative in London for a big coliving residence. The highlights: not only massages and pool on the ground floor, but also integrated local farming on the top floor and two stories full of coliving facilities. Cherry on top of the cake: the project is being crowdsourced. The team did also an amazing job at creating design templates.
The Mid: 12 Stories for Coliving
A new tower is being built in Detroit. The $320 million project will entail a 30-story multifamily apartment building, a 25-story hotel with condominiums, and a 12-story “co-living” tower - including shared living spaces, including kitchens and/or bathrooms. The project is still being discussed and should come to life by 2021.
“We are in the business of renting happiness”
- Roman Badnurchuk, CEO of Sociable Living
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