Are coworking spaces the next must-have amenity for multifamily?

January 6, 2021 | Buyers | Market Insights | Sellers

Learn more about the accelerating trend of coworking spaces in multifamily properties

People have been hunting for new ways to stay productive and creative throughout the workday for years, long before the pandemic.

Now that many more of us have been forced to work from home, we may be finding ourselves growing tired of looking at the same four walls for 8+ hours a day.

For renters living in apartment buildings, a coworking space offers a welcome change of scenery. As occupancy levels of downtown coworking spots dwindle amid health and safety concerns, coworking spaces in multifamily properties are coming into their own.

A more convenient working option

Presenting a safer alternative to large downtown coworking spaces, a communal area that offers high-speed internet and a variety of work areas allows apartment dwellers to get out of their home and work somewhere new—with zero commute. Coworking spaces in multifamily properties can also offer more flexibility to tenants whose apartments don’t have the space for a dedicated work area.

For years, new apartment communities have been offering communal coworking areas like these. What’s new is that owners of more established multifamily properties are also noticing this emerging need and making changes to appease their renters.

The essentials for coworking spaces in multifamily properties

To allow residents to work and collaborate in safety and comfort, your coworking space should offer:

– Natural light

– High-speed wi-fi

– Open, airy spaces

– Ample work stations

– Small group seating arrangements

– Private conference rooms that are bookable in advance

– Regular cleaning and sanitization

– Light refreshments (coffee, water, snacks, and so on).

Our opinion on coworking spaces in multifamily properties

While many multifamily trends have come and gone, we believe this is one that’s here to stay.

The pandemic has dramatically shifted how we work, the post-pandemic workweek will look very different for many of us. As more jobs remain either partially or fully remote, apartment tenants will continue to crave new ways to energize themselves through their workday.

As a result, thoughtfully designed coworking spaces in multifamily properties will continue to be a sought-after amenity—and one that many renters will be willing to pay more for.

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