WeWork has raised billions on the idea that businesses want a fashionable place to work but have neither the budget nor the employee base to justify a tricked-out office. And for its next big act, it believes it can take that same mindset to the home, too.
Enter WeLive: a flexible living space that is fully furnished and, like its work counterpart, fashionably designed. WeLive — which is taking applications for its space in the Financial District in New York City and giving tours of its building in Washington, DC — offers studio shares up to four-bedroom units that could house up to 8 people.
Another perk for the office-minded is that, in at least the New York location, the WeLive is just a couple floors up from a We Work.
According to a blog post by the company, it seems that the WeLive attitude jives with the co-working mindset that originated in business:
We’re all pioneers in what we call the ‘We’ generation. Community and meaningful relationships mean more to us than physical space or material possessions. We crave new and exciting experiences with people who share the same passion for life and acceptance of each other.
WeWork’s New York space starts at $1,375 for a bedroom in a shared studio, $2,000 for a private room and $2,550 for an individual unit. An extra $150 pays for Internet and the persistence of other amenities like housekeeping, gym classes, and fully-stocked beers.
From a superficial perspective, WeLive caters to a certain demographic of people: those who are either looking for a temporary space to live as a way to transition into the city, or those who are happy living in a place that feels more like a college dorm than a real apartment. It’s also not a new concept: Campuswas a San Francisco-based co-living space that shut down last year as founders were unable to turn it into an “economically viable business.”
For that part, WeWork is essentially covered: the company began raising a $780 million Series F in March, at a pre-money valuation of roughly $16 billion.
But it will be up to the kinds of people who are willing to embrace the co-living mindset instead of seeking traditional methods for low-cost living. Millennials, this one’s on you.