EC12: Listening to Neighbors, A New London Coliving Policy, And Coliving Growth in Asia.

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🔁📝Missed our last post? We covered AI integration in coliving and how onboarding programs can make or break resident retention. Catch up by clicking the link below before diving into today’s focus on policies:

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Creating Coliving The Right Way

It’s hard to get permits to create large-scale coliving spaces.

The majority of cities in the world haven’t seen coliving developments, and municipalities that have are still figuring out which label applies to them.

A news articlecaught our attention:

“The start of a completely new way of providing homes for people in Bristol is about to begin, as two large developments of coliving accommodation are set to be given permission by councillors next week.”

Behind this article, a new coliving initiative called Rupert Street, a partnership among others between Student Roost, AlexFrenchArchitects and Pegasus Group.

What stroke us was going to the website and seeing the initiative:

Next to explaining the project, website visitors can read further about what’s proposed - but also give their opinions on the project .

One of the Art of Coliving marketing principles is to communicate with the neighborhood before opening.

This project is aiming at exactly that, and it’s a smart move to increase the chances to get the agreement from the city council. We’d be curious to know what people actually think of the project.

Conclusion: if you’re developing a coliving, share it with the locals first, and make sure you have strong ties to be welcomed once you open!

London Drafts A New Coliving Policy

The Greater London Authority drafted a new planning guidance for coliving - rather, LSPBSL: Large-Scale Purpose-Built Shared Living.

It gives guidance to the construction of large coliving facilities with a minimum of 50 beds. The report touches upon recommendations on common spaces, ratios for private and common spaces, required communal areas and proposed room amenities.

Here are some extracts for recommendation of common spaces:

And here is what is expected from the private unit:

To download the full report, click here.

Coliving vs. Traditional Renting

We shouldn’t talk about “what is coliving” anymore but found this comparison table. Could be useful for those still building out their concept:

Coliving Is Growing In Australia

Pro-invest, a prominent hospitality management firm, is making a strategic pivot towards the burgeoning coliving sector, announcing an ambitious plan to develop a $1 billion portfolio designed for key workers.

Currently, Pro-invest is in discussion with both international and domestic investors to raise capital for the coliving platform’s upcoming investments.

Ron Barrott, the company's founder and chairman, detailed from Singapore the initiative to create approximately 2000 studio and one-bedroom apartments spread across 10 towers.

By targeting key workers, Pro-invest aims to fill a critical gap in the housing market, offering those who are essential to the functioning of urban centers a viable, convenient, and sustainable living option.

And It’s Growing in Korea

"Two out of five homes will be a one-person household in Seoul in 2030, and it’s just five years away,” Byeongyong Han, head of the Office of Housing Policy at the Seoul Metropolitan Government, said in the statement. "It’s time to implement housing support for single-person households.”

The Seoul government will provide more affordable rental housing for single people in the form of co-living spaces, as the number of solo households in South Korea rapidly increases.

The rooms will be offered at rates up to 50% cheaper than market rates, with six-year leases for people from age 19 to 39 and maximum 10 years for people over 40, according to a statement from the Seoul Metropolitan Government.

The units will be built in sites that are located near subway stations, major roads and health care facilities to meet demands from different groups of people. The city government will give incentives to developers to build such homes, including relaxing the floor area ratio cap to as much as 500% by adjusting current zoning regulations.

Everything Else Coliving

• Brad Hargreaves wrote a piece on Cohabs, one of Europe’s leading and internationally expanding operators.
• Hong-Kong rental housing operator Weave Living, which operates rental accommodation units across Asia Pacific, secures more investmentfrom equity firm Warburg Pincus to grow to 5,000 beds.
• Coliving is coming to Pakistan: in this article, you will learn about the growing demand of coliving in the country, as well as discover some leading coliving spaces in Asia and Middle East.
• LHN Group shines in Singapore's real estate market with over 90% occupancy ratesin 1Q24
• Developer HUB works with investor Bridges Fund Management to showcase their upcoming plans in the form of the Cornerstone project, which will transform an office building in London from the 50s into a co-living residential space dubbed Cornerstone.

• Co-living can play a key role in addressing housing emergency: an open letter.
• The coliving mall will be built: the Serene Centre in Singaporewill soon house 86 coliving apartments, a purchase led by Singaporian instant coffee king David Teo in partnership with Cushman & Wakefield.
• And a short written interview with Yellow Livingcofounder in India

We hope you enjoyed this edition and wish you a great week,

Gui Perdrix & Mayank Pokarhna
The Artof.Co team

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🆕 Up Next:

🔗 EC13: Coliving Architecture Reimagined, Shared Living Trends 2024, and This Week's Coliving Events.

🔗 EC14: New UK Coliving Report, How To Run Pop-Up Coliving, And Global News.