Adam Neumann, the former CEO of WeWork, is setting the stage for his new venture, Flow, to officially launch next year.
Neumann’s vision for Flow is to turn traditional apartment living spaces into a community-centric experience — offering both coworking spaces and apartment living amenities.
According to a report published by Bisnow, the company’s first project, Society Las Olas in Fort Lauderdale, is set to officially open next year with additional properties having been purchased in Atlanta, Miami, and Nashville, which the company has plans to renovate. The Fort Lauderdale property is reported by Bisnow to have fitness classes, a pool, a yoga garden, and coworking spaces.
Flow has the backing of Silicon Valley venture capital firm Andreessen Horowitz (a16z), with a substantial $350 million investment. It’s reported by Business Insider that the company is promising flexible leasing terms that cater to the increasing demand for shorter leases. This may be a strategy to attract the growing number of digital nomads traveling throughout the U.S.
Neumann was ousted from WeWork back in 2019 following a failed initial public offering (IPO) attempt. Since then, WeWork has encountered many other challenges including leadership resignations, and a stock value plummet which led the company to filing for Chapter 11 Bankruptcy in November.
