Common, a New York-based developer of apartment communities for roomates, plans to expand in in San Diego with 300 beds in “coliving” developments.
San Diego is one of four cities, including Philadelphia, Atlanta and Pittsburgh, where the company is expanding with new communities. The all-inclusive shared apartments are fully furnished, have private bedrooms, are stocked with supplies, and include weekly cleaning.
“With a major presence in six metro areas, we’ve seen a real need for innovative housing solutions in growing, mid-size cities that are facing challenges of rising rents and demographic change,” said Brad Hargreaves, founder and CEO of Common.
The company said it has a pipeline of 300 beds in San Diego, some in partnership with local architect and developer Jason Maune, and plans on bringing more than $60 million worth of new coliving developments to the city over the next three years.
Coliving is a response to the fact that people are living with roommates in rentals for longer and later into their lives. Common noted that 70 percent of San Diegans aged 20 to 34 are not married, and 65 percent of non-family households are renters.
“Land cost is high in San Diego, so concentrating density in our urban center is key for our sustainable growth,” said Maune. “Coliving will unlock tremendous opportunity for San Diego. Coupled with the city’s latest push for bikes and e-scooters, we are creating mixed-use communities where young professionals will finally be able to find great housing at an accessible price point, and forgo owning a car.”
Common opened its first coliving home in New York City in 2015, and has since expanded to Chicago, the San Francisco Bay Area, Los Angeles, Seattle and Washington. It has over 700 beds across 24 buildings.