Co-Living Startup ‘The Collective’ Is Forging A Bright Future During COVID-19

Co-living may on the surface appear to be more vulnerable to the COVID-19 pandemic than regular living options, but flexible models are providing much wanted social benefits that are seeing spaces like The Collective thrive. Tough times might create the first megabrand in the urban living scene.

 Cushman & Wakefield forecasts the co-living market potential at $550bn across Europe and the US once the sector matures, possibly over the next 10 years. Cooking together, socializing in shared spaces, and connecting at events is at the heart of The Collective’s model. This is a combination which you’d think would spell doom for a business right now, but there is more under the hood than simple proximity benefits. Despite the government guidelines slapping a firm ‘not right now’ on many of co-livings benefits, there’s no mass exodus and the ‘members’ (residents) have never been more ‘together’, according to Reza Merchant, founder, and CEO of The Collective. The model is – at its heart – adaptive. When people are isolated and have their usual social rugs pulled from under them, having a live-in community is a unique selling point. 

 Based in the US, UK, and Germany currently, The Collective is still expanding while the company evaluates the next steps post-lockdown. Speaking with members, the mood is positive and they have access to large amounts of resources and online events to help improve their mental and physical wellbeing. Several of the members mentioned that they weren’t sure how well they would be coping if they weren’t at The Collective, and referenced the Facebook and WhatsApp groups The Collective uses to keep the community connected.

Merchant is realistic about the future: “We’ve learned a lot that has shaped future plans – COVID-19 has prompted us to try out new initiatives, and experiment with evolving the offering, and we’re stronger because of it. The need for connection and togetherness will be even more important over the next few years as the after-effects of this period of social isolation are felt. The fact that members have stayed and are flourishing is proof the model works. We’ve learned so much from the past few weeks and months. I actually think we will look back at this moment in 20 years from now and say that our future as a business was forged during this challenging time.” 

Charlie Seligman, 42, an IT Consultant staying at The Collective Canary Wharf, told me: “There are lots of us staying at The Collective Canary Wharf during this lockdown because of its community. I’m staying with The Collective because of the ‘family’.”

In a way, The Collective is a micro-ecosystem that provides a unique cocoon to COVID-19. The global nature of the network Merchant and the team has meant that the virtual events program isn’t your usual yoga at 9 am affair. Instead, members have benefitted from experiences like tantric storytelling, sleep-inducing sound healings, live DJ sets, and philosophical discussions with global leaders and authors. All while the contact-free room delivery service offers meals from the on-site restaurants. The members themselves have also rallied together to provide online activities like an improvisation club, and weekly group mental health check-ins, as well as doing shopping trips for other members in self-isolation.

Laura Fele, 30, a designer and creative director who moved into The Collective Canary Wharf 10 days before lockdown, said: “I had just moved in and hadn’t really had the chance to fully experience what the whole of The Collective had to offer. But after the first couple of days I realized the lockdown had fostered an increased sense of community across the building. People are really nice and always trying to help you out. I lived in Milan for 10 years and only now I realize how bad I was with my neighbors – I didn’t have a relationship at all with them.” 

The future is on Merchant’s mind. “The pandemic is going to be good for community. People are appreciating the value of connection more than ever, and will look for it in the way that they choose to live in the future,” he added.

Merchant believes the inherent flexibility and value for money of the co-living model means that it will play an increasingly important role in our cities into the future, particularly in the context of planning for future crises, and shifts in how people will live and work in our cities.  Merchant said: “Our co-living model can flex depending on the location, and market needs and demands at any given time. I can’t think of many other models that can so quickly respond to market demand, societal shifts, and changes in human behavior.” 

The Collective recently repurposed its short stay offering at The Collective Paper Factory in Long Island City in partnership with the New York City Department of Health and Mental Hygiene to provide discounted short-term rooms for the city’s frontline key workers. Furthermore, the business is providing homes for NHS staff and key workers across its portfolio in London and is exploring opportunities to provide accommodation for homeless people. 

Co-living’s role in a post-pandemic society is a bright one but not without challenge. Playing a ‘vital role’, the model has always been about adapting to new times and tastes and never has that been more useful now and in the near future. The model, in some aspects, is counter-cyclical, as people will always need a roof over their heads. Flexible options are needed during times of public health crises, and economic downturns typically lead people to gravitate towards value for money and a community to be a part of, not just for social but also for business reasons. The model will likely evolve again out of COVID-19 but co-living’s strength has become clear, and its future forged in these unique circumstances. There will always be different price points when it comes to co-living but it is the community aspect that is proving to be co-living’s priceless feature.

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