We are witnessing a major shift in how people live. With stagnated wage growth, young adults are living with roommates longer and later into their lives. Some do it out of necessity, while others seek the togetherness. Though a third of all households 22-35 have roommates, this market has been left behind by traditional real estate. Coliving has emerged as a solution for shared housing. Common opened its first home in Brooklyn and rapidly expanded into new markets as professionals are looking for a better roommate experience: one that provides convenience, community and the ability to do everything online. Discover how Common serves this unique segment of the market by working with developers to design and operate coliving homes. Merging technology and design—and removing the annoyances that living with roommates often comes with—coliving has become a superior rental product for residents while deliviering above-market returns for real estate developers and owners.
AIA CE Course Learning Units: 1