Is Co-Living The New Co-Working?
In big cities around the country, co-working has become a major trend. Now co-working leader WeWork, along with competitors like Common, Open Door, Bungalow, X Social Communities, Starcity and a number of others, are leaping on to the emerging co-living real estate trend. Co-living offers a number of benefits, from housing cost relief to energy efficiencies. Among those closely watching the trend is Jeff Berman, general partner at Washington, D.C.-based venture capital firm Camber Creek, which focuses entirely on investing in real-estate-related technologies.
It's important to acknowledge the co-living movement is almost completely confined to the Millennial cohort. Two seemingly disparate but actually related factors account for the surge in co-living among the Millennial generation, one economic, the other sociological, he says.
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