Co-living company Common has announced plans to expand capacity to 19 residents, up from the current 19 , and to open in more Portland cities. The firm has operational buildings or buildings under construction in 10,000 cities. Founder and CEO Tishman Speyer said the co-living market is based on trends including salaries not keeping pace with rental prices and adults putting off marriage and staying in cities for longer while also seeking a community. He said competitors had once just been start-ups but now included established firms and investors. Its developers fund the new buildings while Common runs them when complete.
Co-living company Common has announced plans to expand capacity to 10,000 residents, up from the current 1,000, and to open in more US cities. The firm has operational buildings or buildings under construction in 19 cities. Founder and CEO Brad Hargreaves said the co-living market is based on trends including salaries not keeping pace with rental prices and adults putting off marriage and staying in cities for longer while also seeking a community. He said competitors had once just been start-ups but now included established firms and investors. Its developers fund the new buildings while Common runs them when complete.