• Get your paperback, kindle, or PDF edition of Art of Coliving Book.
• Starting or operating coliving space? Level up and Join the Coliving Incubator Program.
• Are you building a coliving business? Get Free Coliving Advisory

🔁📝Missed last week’s insights? We explored how Selina's insolvency is impacting the market and funding strategies for coliving startups. Revisit EC27 below for more before today’s discussion:

Office Conversion to Coliving: How Toronto is Rethinking Its Vacant Office Space: The Toboggan Flats Project

Robert is part of the Coliving Incubator Program by Artof.Co, and we're honored to work with innovative companies like them! Here is a summary of the recent interview they had with a leading publication. Read on to know how offices conversions to living spaces can help fight some of the most pressing issues for city administrations.

• Youthful Cities Initiative: Canadian think-tank Youthful Cities proposes converting vacant office spaces into co-living developments for young people through the Toboggan Flats project.
• Housing Affordability Crisis: Young people find it nearly impossible to afford downtown living in Toronto.
• Vacant Office Spaces: Many office buildings remain empty post-pandemic due to the shift to remote and hybrid work models.
• Coliving Spaces: Convert office spaces into affordable coliving units, offering private
  furnished rooms and shared amenities for around $1,200 a month, inclusive of utilities.
• Community Building: Co-living spaces provide social benefits by fostering a community for young, often isolated, individuals.
• Cost-effective Conversions: Co-living models are less expensive and quicker to construct than traditional housing due to shared facilities.
• Supportive Environment: Potential inclusion of gyms, rooftop patios, cleaning services, and fitness classes.
• Economic Boost: Young workers living downtown can help stimulate the local economy.
• Pilot Projects: Assessing buildings in Toronto, Hamilton, Calgary, and Ottawa, with a goal of completing 2,000 units by 2025.
• City Policies: Challenges in Toronto include existing policies protecting office space, but other cities show fewer obstacles.
• Optimism for Rebound: Experts like Karen Chapple and Adam Jacobs are cautiously optimistic about the future of office spaces and potential conversions.
• Positive Outlook: The Toboggan Flats project represents a promising solution to urban
  housing challenges, leveraging vacant office spaces to provide affordable, community-oriented living for young people.

Let us know your thoughts on converting office spaces in coliving? So you think we can move fast enough and create sustainable business here?

Ways to Build Community in Coliving Spaces

Nexudus write a recent blog beautifully outlining they ways in which coliivng communities can be built. Community is the essence of coliving, fostering authentic connections and reducing loneliness. Here are ways to build community in your coliving space:

• Hire a Gregarious Community Manager: A community manager is central to facilitating a vibrant community. This role, often multifaceted, involves curating events, managing activities, and marketing. It's crucial to support and nurture your community manager to prevent burnout.
• Curate a Self-Organized Community: Encourage residents to take active roles in building the community. Identify star residents and incentivize them to welcome newcomers and
  organize events. Participation from within can create a natural, thriving community.
• Host Social Events: Regular events like movie nights, yoga sessions, and group picnics are
  vital for fostering connections. Market these events well and ensure they cater to residents' interests. Consistent, engaging events can significantly enhance residents' social lives.
• Utilize Communal Spaces: Use shared spaces like coworking areas, gyms, and kitchens to
  facilitate interactions. Organize activities led by external experts, such as fitness classes or cooking workshops. Even simple setups like game nights in communal areas can promote organic interactions.
• Leverage Digital Tools: Incorporate digital tools to enhance the coliving experience. Use
  communication platforms to announce events, facilitate virtual interactions, and keep residents connected, even after they move out. Digital tools help maintain a sense of community across different locations.

Read it in detail here.

Does The Coliving Community Have 2 Factions - Corporate Vs. Independents?

We were recently asked this during one of our calls with a coliving founder. And here is the response from Gui.

I'd put even three factions when it comes to "who is behind these projects"

• Private individuals that want to build a lifestyle business (usually house typology)
• Entrepreneurs who start from (almost nothing) but want to grow to a point to do deals with corporates and conquer the market (usually building typologies)
• Corporates (aka developers or other operators like student housing) who enter the market with new products (usually large-scale typologies)

Now it depends on multiple factors what kind of model will take precedence in which part of the world. Some of them are local laws, the culture of the place, people’s preferences, access to capital, ease of doing beuinsee, and so on.

What do you guys think about this? Reply to this email to get featured in the next edition.

Strategies for Landlords to Adapt to the Growing Trend of Coliving Spaces

If coliving is not popular in your geography here are the things that you can do to adapt your business to the coliving trend and bring it to your city.

• Understand the Coliving Concept: Familiarize yourself with the coliving models, which features private bedrooms and shared common areas like kitchens and living rooms,
  appealing to young professionals and millennials.
• Optimize Space Utilization: Redesign properties to maximize shared spaces while maintaining private areas. Convert larger apartments into multiple bedrooms with communal spaces to attract co-living tenants.
• Invest in Modern Amenities: Equip properties with high-speed internet, smart home devices, and well-furnished communal areas. Consider adding co-working spaces, fitness centers, and recreational areas to enhance the living experience.
• Foster a Sense of Community: Organize social events and activities to encourage tenant interaction. Design common spaces like lounges and game rooms to facilitate socializing and build a sense of community.
• Implement Flexible Lease Terms: Offer short-term leases to cater to the lifestyle of co-livingtenants. This flexibility can attract more tenants and allow for dynamic pricing based on market conditions.
• Leverage Technology: Invest in property management software for efficient operations and
  tenant communication. Implement smart home technologies like keyless entry and automated lighting to appeal to tech-savvy tenants.
• Collaborate with Real Estate Agents: Work with experienced agents to gain insights into rental demand and tenant preferences. Their expertise can help market your co-living property effectively.
• Ensure Legal Compliance: Stay informed about local regulations and legal requirements for
  co-living arrangements. Ensure your property meets all standards to avoid potential issues.
• Focus on Marketing and Branding: Develop a strong online presence with a dedicated website and social media platforms. Use high-quality photos, virtual tours, and tenant testimonials to attract potential tenants.
• Prioritize Tenant Experience: Provide responsive property management, prompt maintenance services, and clear communication channels. Regularly seek tenant feedback and make improvements to enhance satisfaction and retention.
• Diversify Your Property Portfolio: Invest in properties in various locations to appeal to different tenant demographics. Diversification can provide a steady income stream and increase the value of your investment.
• Learn from the experts: Join programs like Artof.Co’s Coliving Incubator Program which takes you through a 12 month learning curve and gives you all the resources, best practices, templates, learnings, etc to build the coliving business in your geography.

Everything Else Coliving

• Why midlife women are flocking to colive in France. As America enters a new period of turmoil, Sacha Cohen is just one of many older Americans who have headed to France where they feel safer and, more importantly, appreciated. It might have its own troubles, but they are still the masters of the art of life.
• Coliving operator Housr to reach 8,000 operational beds by March 2025. Housr plans to add 1,000 beds in cities like Bangalore, Hyderabad, Chennai, and Vizag, aiming for a portfolio of 100 properties and an ARR of Rs 100 crore by 2025. The co-living operator offers premium managed spaces and expects to operate over 8,000 beds by March 2025.
• Enso Coliving details their ambitious Mexico and US expansion. Company plans 13 new locations, projecting €38 million revenue by 2028 with tailored services and advanced technologies.
• LHN Limited Expands Co-Living Spaces, Divests Car Park. LHN Limited has
  strategically expanded its portfolio by purchasing Wilmer Place for $26.5 million, with the intent to transform it into a coliving space under the Coliwoo brand.
• Finding Robust Returns In New York's CoLiving Real Estate Sector
• Colife expands co-living to Hong Kong. UAE-based smart-rental startup - Colife – expands into Hong Kong with the aim to deliver coliving homes.
• Coliving in the Maldives will feature single and twin shared rooms for coliving. Each floor will have a pantry, and kitchen for communal use. The building will also house an outdoor gym, laundry facility and shops.
• LHN’s Coliwoo to launch two new co-living properties in River Valley, Singapore
• The Singapore Land Authority (SLA) has launched a Price-Quality tender for a site at 98 Henderson Road. The allowable use of the property is for serviced apartment (coliving) use, and the site is envisioned as a new inter-generational residence that promotes independent senior living and active ageing.
• Peel Waters secures planning for Yorkhill Quay BTR and coliving. Peel Waters secures planning for Glasgow’s Yorkhill Quay scheme, which will deliver Build to Rent and co-living homes.
• Deposit alternative service flatfair has entered a partnership with Fresh, a Build To Rent and coliving operator. Instead of paying a traditional cash deposit, Fresh residents can now
  choose to pay a smaller one-off fee of one week’s rent plus VAT, lowering the financial burden of moving into a new home.

If you want us to cover anything, please mail it to us on coliving@artof.co

Gui Perdrix & Mayank Pokharna
The Artof.Co team

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🆕 Up Next

🔗 EC29: Padsplit CEO on Affordable Coliving, Coliving Incubator Program Launch, Coliving Saving Money for Renters, Multigenerational Coliving, and Other Coliving News.

🔗 EC30: Coliving Innovators, Housing Shortage Solutions and Other Coliving News.