Ethical Property Australia has been offering affordable and sustainable co-location workspaces for nonprofit organizations and social enterprises since 2013, and is looking to put an ethical spin on other assets.
“It’s also about the community that forms from being co-located with other like-minded groups,” said Peter Allen, Ethical Property Australia’s chief development officer.
This precursor to what we now know as coworking spaces uses a model that falls “within the normal parameters of commercial property,” rather than short-term lease agreements seen at several traditional coworking spaces.
The space also ensures it is financially sustainable as possible. It achieves this by carefully optimizing its amenities, like sharing meeting rooms that are only used once a week with other organizations. Furthermore, sharing the workspace means cost and energy efficiency for tenants.
Moving forward, the company is also eyeing mixed use developments by partnering with housing and disability accommodation providers to create “impact neighborhoods” which would provide affordable housing for people with disabilities.