Back in the summer of 2018, I interned at Ollie, a coliving startup based in New York. My first hand experience at the coliving shop opened my eyes to what I imagined to be as ‘the disruptor in the multifamily industry.’ Essentially, coliving startups aim to offer a more affordable, social living arrangement by renting out spaces with smaller private bedrooms but shared common spaces. The companies often furnish apartments, as well as provide community events. While not for everyone, coliving is a model proven for market fit effectively shown by the great number of Gen Z & millennial’s opting into these spaces and large successful venture raises by these startups alike. Flash forward to the fall of 2020, and I’m unsure of my assessment on the future of coliving. On one hand, I’m concerned that coliving’s thesis of community gatherings and highly densified areas will be a health hazard, due to Coronavirus. On the other hand, in the case of a downturn, prospective renters may welcome coliving as an option for its affordability factor.
So, I pose the question: By the end of 2021, to what extent will coliving play a part in the multifamily sector?