Open offices and co-working aren’t the only shake-up companies are seeing in the modern work world. As more young people flock to cities in search of a place to plant roots, living spaces are getting a facelift, too. Intrepid companies like WeWork’s new WeLive division and Common are breaking into co-living, and some employers have taken notice.
More and more real estate properties are becoming mixed-use. Between 2010 and 2014, just 28.8% of total apartment properties were zoned mixed-use, meaning commercial, retail, and residential all in one building. Projections are that by 2021, as much as 34.9% of these properties will cover the market, according to apartment research company AXIOMetrics.
Young entrepreneurs are finding expense-sharing the way to go in terms of living arrangements, but they’re not just hanging “roommate wanted” flyers on the office bulletin board. Co-living is on the rise, where renters share magazine-worthy living space with their “suite-mates” and enjoy the privacy of a bedroom/bathroom suite. The upside? Their rent covers furnished rooms, state-of-the-art wi-fi access, shared laundry area, a professional kitchen that would make any chef happy, and weekly cleaning services. For the cash-strapped looking for affordable housing in cities with skyrocketing real estate prices, it’s an elegant solution and far better than anything they could afford alone.
Introducing Work-Live Hybrid Spaces
This is where a new wave of office solutions comes in: the work-live space.