Ollie Shows Profitability of Coliving
Coliving startup Ollie showed how coliving models can gain higher returns on investment than regular built-to-rent facilities. The ALTA LIC building in Queens, NY, entails 466 apartments, out of which Ollie manages 169 under the coliving model and the remaining being luxury apartments to rent. The result after one year: the net operating income from the coliving units is 30 percent higher per square feet, a number that takes into account the additional costs of coliving amenities like housekeeping service.
WeLive Will Open in India
After StayAbode Ventures announced a 1,400 resident coliving space, WeLive just announced to partner up with the Embassy Group (India’s largest developer) to develop its concept in India. Reason being: India is currently in the coliving hype, and got a lot of traction since the Indian coliving market was evaluated at a potential of $93bn.
Coliving Is Getting Traction in France
An interesting trend is happening in France. On one side, coliving startups are getting press traction and investor attention, such as Colonies raising 11m euros in their last round and HackerHouse launching two new places. And on the other side, we’ve been seeing several corporate actors actively publishing on the topic coliving. Niche news sites such as Qo! by Quartus (real estate developer), Urbanistik by JCDecaux (advertisement) and Cotoi by Crédit Agricole (cooperative bank) are building up the public interest for coliving.
Finally: The First Coliving Jobs Board
A few months ago, I mapped out coliving initiatives (XYZ) that I believed needed to come to life. One of them finally did: coliving.com just launched the first coliving job portal. Centralizing coliving job opportunities will be very beneficial for industry-related jobs such as for community managers to have one go-to-platform.
Coliving Actors United in the Netherlands
Vastgoed Journaal and ColivingNL are putting together a key event on the future of living: the New Housing Forms Congress (or rather: Congres Nieuwe Woonvormen, for those who want to know). In one day, speakers from major real estate developers and coliving companies (including Student Hotel, Medici and Zoku) will gather in Amsterdam on June 20th. Tickets start at 295€.
The Affluent Homeless
An interesting interview with some residents who stay at PodShare coliving in Hollywood. Investigating the residents’ background and their choice to not have ownership (mostly because they can’t afford it), my favorite part was when they discussed minimalism: “Minimalists own, like, 30 things, but then the interesting thing is that they hoard digitally. They have tons of photographs […] and thousands of Instagram posts.”