San Jose’s Getting the Biggest Co-Living Building in the World
More people are leasing these modern dorms to save on expenses.
- CategoryHomes + Spaces
If you rent in San Francisco, Silicon Valley and the surrounding Bay Area, chances are your cost of living is on the rise. Many locals priced out of the real estate market or resistant to spending most of their paycheck are turning to dorms instead. But these aren’t your typical college communal spaces … there’s cleaning services, laundry and even dog walking. The kitchen and common areas are most definitely shared. The biggest of these is scheduled to open in Downtown San Jose in 2021.
According to The Mercury News, “The nearly 800-unit building, set to break ground early next year, is the latest project to embrace “co-living”—a dorm-like set-up where residents sleep in small private bedrooms and share common spaces, as a way to pack more people into a building and keep rents down. It’s a lifestyle that’s becoming increasingly popular as Bay Area residents, grappling with sky-high housing costs, are forced to find ever-more creative ways to stay afloat, and developers are encouraged to come up with innovative methods to house more people faster.”
You can read more about the project and the co-living trend here.
And most of the funding is coming from private sources.