A London high-rise takes an innovative approach to combatting rising rents.
London has unveiled an innovative way to combat rising housing costs.
The Collective, a London-based company, revealed designs for a high-rise residential building dedicated entirely to co-living, according to Fast Co Exist.
Rents in the city have been rising rapidly, prompting a need for an innovative response. Renting a unit in the co-living space will cost 15-40 percent less than most of the city, according to the article.
Residents will have to sacrifice some privacy but will still have their own sleeping areas and bathrooms. What the building loses in traditional privacy it makes up for in shared amenities, like a library, a spa and a theater, as well as 12,000 square feet of living space.
“The idea is that we provide a compact but well-designed living space where you can have all of your basics. … It’s really your crash pad,” Reza Merchant, CEO of The Collective, told Fast Co Exist. “The wealth of amenity space is the modern form of the living room.”
The DC area will eventually have something similar, the question is when. WeWork’s planned residential development in Crystal City is currently under construction, but its delivery date next year remains a bit of a moving target.
This article originally published at https://dc.urbanturf.com/articles/blog/london_high-rise_is_giant_co-living_space/10641.
Most Popular... This Week • Last 30 Days • Ever
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
Why condo fees are high in some buildings and low in others can be a difficult questi... read »
When sellers haven't quite lined up their next house before their settlement date com... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
Here's what you need to know about reporting profit made from the sale of your home.... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
A recent transaction shows that the housing market isn't cooling off everywhere.... read »
Developer Akridge has released new images of their planned Burnham Place development ... read »
The new development will also have a nearly 20,000 square-foot public plaza.... read »
New plans filed with Arlington County last week provide the first renderings for The ... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro