World’s Largest Co-Living Space To Come Up In Silicon Valley

World’s largest co-living space is all set for construction in the United States of America’s most expensive property markets of Silicon Valley. The co-living, which recently received the go-ahead from the local officials at San Jose in California, is aimed at providing affordable housing options available to the many migrated professionals working in the city. The demand for such homes is on a continuous rise as Silicon Valley-based technology companies are always hiring new workers.

The co-living space will be an 18-floor building housing over 800 units and will be constructed by the country’s community housing provider Starcity. The structure is being visualised as a huge dormitory providing housing options to the millennials living together in harmony and sharing similar interests. According to the developer, Starcity, the city either has low-housing options or expensive luxury apartment highrises. The new co-living structure will be bridging the gap between the two and will be provided with good amenities at affordable monthly rent.

The developer, Starcity was launched in 2016 and since then it has been working on seven such developments in cities of Los Angeles and San Francisco. This will be the eighth project of which the groundbreaking will be conducted soon and is expected to open for public use by 2021. Most of the co-living units in these projects provide renters with 130-220 square-foot bedrooms that share a common kitchen and living space. Aimed at the young professionals, the developer ensures millennial-friendly amenities, including a library, locally-sourced foliage and Bob Ross painting nights, with a focus on providing good living conditions to the renters so that they stay in the city for a long-term. These units can be rented for a range of $1,400-2,000 a month. 

This project will also have common utilities, including Wi-Fi, cleaning services and essentials such as toilet paper and paper towels. Community events will also be held. Each residential floor of the building will include co-working spaces, media rooms, chef's kitchens, and dining areas. There will also be a 5,000-square-foot fitness center, bike share and repair facilities and a roof terrace.

One of its first in San Jose, the new co-living unit has also changed zoning laws, too. To give approval to the first-of-its-kind project, the city created a new zoning category for co-living.

Also read: Co-Living Is A Potential $93-Bn Market, Says Report