Last Tuesday was family din ner at co-living venture We Live Wall Street. Thursday was a “craft jam“ -terra cotta pot painting amplified by rosé and salty snacks -at Node in Brooklyn. A few weeks earlier, this reporter slept on the 68th floor of the tallest residential building in Jersey City, in a flashy model apartment.
These are some of the adven tures one could have in modernday co-living, a housing model that draws inspiration from the single-gender residence hotels of the early 20th century and postwar intentional communities, along with modern co-working spaces and hacker hostels.
These are accommodations where residents share facilities such as dining areas, lounges, work spaces, laundry rooms and gyms, and the investors are looking to do more. And conventional developers are starting to play with the idea, bringing a swankier gloss to what had been homespun group housing. Newer iterations seem more akin to the millennialfocused, hipster-amenitised luxury rental developments sprouting in different parts of the world (with design tropes that include raw wood shelving, vintage board games, and picture books strewn about the common areas).
Using architecture, design and so-called community programming (say , craft jams and bar crawls) co-living aims to push people together. It’s housing buoyed by and addressing a collision of attendant themes: the sharing economy and a yearning for connection, social and professional, among overworked millennials and a work force that’s increasingly freelance.
In Britain, the co-living microflats market now accounts for 5 to 10% of the £25 billion build-to-rent private rental sector, James Mannix, head of residential capital mar kets at property group Knight Frank, said. The Collective, one of London’s major co-living developers, says tenants at its Old Oak apartment building, the world’s largest co-living endeavour with 546 people living across 10 floors, have a median age of 28. “For people at certain stages of their career … it definitely makes a lot of sense,“ Ivan Soto-Wright, a 27-year-old resident of Old Oak, said. Some co-living ventures have collapsed under the weight of their ideals, like the utopian Pure House, started by Ryan Fix, now 42, in his loft in the US in 2012. “It was an experiment that grew out of control,“ he said.
Fix, who eventually turned over the Pure House leases he had acquired to his tenants, is now a co-living consultant.
With a colleague, he started Pure House Lab, a nonprofit “dotank“, offering workshops, research and other services to the coliving movement, about which he remains bullish. “Loneliness and anxiety are still on the rise,“ he said, “The opportunity is to build environments with more points of collision. Creating nurturing spaces where people can share and connect is transformative for the planet.“
Courtesy By Times of India
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