Millennials Lining Up for Communal Living & A Unique Experience?
Communal living, or co-living, is maybe the next big thing as demand for them grows among millennials looking for a unique experience.
Co-living spaces are designed with the community in mind. While each resident in these developments typically has their own small, fully furnished bedroom, the big draw is the communal living spaces and luxury amenities they also provide. They often feature services such as weekly cleaning and linen changes in a addition to restocking bathroom and kitchen supplies when needed.
Group events are planned by directors at the living spaces and allow for a strong sense of community. This community is a major factor in why so many millennials are looking into this way of living.
Another major factor in the choice to live at one of these facilities is no surprise…it’s the price. While being pricier than simply buying a studio in a city like New York, they offer more bang for the buck. They come fully furnished and offer several amenities that wouldn’t come with a regular apartment.
As co-living developments have popped up recently across the country in major cities like New York, Chicago, and San Francisco, there are plans for even more in the pipeline. Interest in them is great, and companies have noted that they haven’t been able to keep up with the demand for these spaces.
In addition, New York, often a trendsetter for new ways of dealing with housing issues, has recently passed incentives for these types of spaces which will likely lead to an even greater boom in production.
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