ULI Washington- Learning to Share: The future of Co-Working and Co-Living spaces
In the past three years, co-working spaces have doubled across the country and DC is leading the trend. Shared work spaces have captured 14% of all 2018 office leases, with WeWork leading the way as DC’s largest private tenant. With dozens of new companies emerging to emulate this successful model, new concepts such as co-living are having a go at disrupting the multifamily market, bringing the dormitory lifestyle off campus to a trendy neighborhood near you.
And yet with a market share below 2%, how many shared space players can the region sustain? As WeLive slows its expansion while few other residential developers test the concept locally, it’s unclear whether co-living will have as much success as its co-working counterpart. Will the high cost of living and low housing inventory push this seemingly fringe trend into a reality for DC’s working class professionals?
Join ULI Washington for a panel discussion that brings investors, tenants and landlords to discuss the challenges and opportunities in coworking and coliving spaces in our region.
Moderator: Adam Glaser, Planning + Strategies Leader, Perkins + Will
Revathi Greenwood, Head of Americas Research, Cushman & Wakefield
Jeff Chod, Managing Director – Regional Director, Tishman Speyer
Rob Summers, CEO & President, Pantera Management Group
Martin Ditto, CEO, Ditto Residential
Questions for Panelists:
How is coworking affecting traditional office space?
Are there opportunities for co-working and co-living in untested locations? What are the criteria for site selection?
Why is co-working taking off while open floor plan is dying?
What services do you need to offer to your coliving tenants? Concierge services for dry cleaning, start your own cell phone plan, Uber credits?
What are some of the biggest appeals to potential tenants to choose co-living space?
Are smaller, more boutique buildings going to be more successful with the co-living model or will the WeLive model gain traction?