'Common' is a start-up created by General Assembly co-founder Brad Hargreaves that aims to provide affordable co-living spaces in urban environments. With housing prices skyrocketing and more millennials opting to start a family later in life, these shared spaces are perfect for young people to communally live and save money.
While people may think that these spaces would be grungy and cramped, that is not the case. This stunning home has a luxurious roof deck, four communal kitchens and a beautiful modern aesthetic with exposed brick walls. The communal building is located in Crown Heights Brooklyn, and has 19 private bedrooms. The modern building also has some smart home features like Bluetooth-connected locks and Nest thermostats.
Finally, rent for the co-living spaces is charged on a month-by-month basis, perfect for the flexible young, urban professional.
What's Driving This Trend
- Affordable Co-living
- Affordable co-living spaces are gaining popularity among young urban professionals, providing disruptive innovation opportunities in the real estate market.
- Luxurious Communal Living
- Luxurious communal living spaces are redefining the concept of shared housing and presenting opportunities for innovative interior design and property development.
- Flexible Rental Models
- Month-by-month rental models for co-living spaces are meeting the needs of the increasingly mobile and flexible urban professionals, opening avenues for disruptive innovation in property management and leasing.
Who This Affects Most
- Real Estate
- The real estate industry can explore disruptive innovation opportunities by capitalizing on the growing demand for affordable co-living and luxurious communal living spaces.
- Interior Design
- The interior design industry can embrace the challenge of creating innovative and functional spaces for luxurious communal living, enabling disruptive design solutions that cater to the changing needs of urban dwellers.
- Property Management
- The property management industry can leverage flexible rental models for co-living spaces to streamline operations and provide enhanced services, presenting disruptive innovation opportunities in property leasing and tenant management.
