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Is Coliving Truly The Solution To Increased Urbanization?

Coliving buildings are taking urbanized areas by storm, with properties across New York and Chicago catering to young professionals in need of affordable housing. Click To Tweet

For example, the Collective is a coliving space in the northwest London neighborhood of Willesden Junction where 550 residents pay a monthly rent starting at £1,085 for hotel-sized rooms with various other amenities like a cinema room, a coworking space, as well as as a restaurant and bar.

“I was looking for flexibility rather than being sucked into the cycle of letting agents, paying £2,000 each time you move and being locked in a contract,” said Benjamin Webb, who is a community ambassador at The Collective. “The Collective gave me that flexibility, but what kept me there – and I’ve extended my original contract – is the community and all the other things that come with it.”

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While these arrangements seem like a matchmade for the increasingly mobile generation, some believe it is a ploy to cash in on young professionals. Vlad Calus, co-founder of social media startup Planable, moved into the Collective and found that the small rooms were unliveable in the long-term.

Still, other coliving brands are going beyond single rooms by providing a broader range of living arrangements. For example, Cambridge-based Marmalade Lane offers a mix of homes from four-bedroom houses, to single bedroom apartments with a central “common house” for social gatherings.

Overall, demand for coliving spaces is high as The Collective recently received a $800 million fund to expand across the UK, US and Europe.

ABOUT Aayat Ali
Aayat Ali

Aayat is an editor for the Daily Digest based out of Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces. Feel free to reach out to her at [email protected] View all posts by Aayat Ali

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