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. Today, 44 percent of its projects are ground-up construction, not renovations, and 23 percent are so-called “blended” projects, mixing coliving and traditional studio and one-bedroom units. Its developers fund the new buildings while Common runs them when complete.
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.