Recently, I attended an event on Co-living Development organised by Coliving Hub in which we were able to discuss many topics that relate to the expansion and development of this segment of the market particularly after the pandemic’s effects.
Many of these discussion points are applicable to a larger variety of workspaces, accommodations and residential properties which are gaining popularity in today’s market. Student accommodation, co-working accommodation, serviced lodging, and similar programs. In my opinion, it’s extremely important to remember the most important points that were discussed at the conference, which can turn into a trend for the field. Some of the points that certainly interested me were:
Create a future that is shared by everyone
Technology and Co-living
Building Intentional Communities
Design and Construction in Co-Living Spaces
There were many more. If you think these are interesting, please contact us and we’ll be sure to write more.
1. Create a Shared Future for everyone
The talk was about the ever-changing needs of people living in co-living environments and more specifically, various options that differ from the private space to the shared one, with various possibilities in between.
The initial study was focused in relation to a possible senior community, we have already discussed the significance of this concept in prior instances. In the introduction, it wasn’t solely about co-living space. It was also important to consider discussing the opinions of the students on the selection of the best roommates and community in each circumstance. It’s also a potential improvement idea that was discussed at The Class Conference a few months back.
The emphasis is offering a variety of experiences and providing the chance to build a stronger community interactions, collaborations, and bonds among people by creating areas that are more private.
2. Technology and Co-Living
This topic was examined in two different ways from a point of the point of. Technology’s impact on co-living, and the impact that Covid was able to have on the development of technology.
Technology is an existing “trend” and not only in real estate, but practically in every aspect of our lives. The panelists did highlight some new and innovative technologies that are worth a look as well as others that are currently used in specific countries around the world.
The first can be described as the intelligent locking system which eliminates the need for keys or cards and replaces them using the phone app. This type of system is widely used in nations such as China and will soon be able to be a success in other countries as well. It not only streamlines check-in process, it also helps reduce risks of contact with strangers at this time.
Other aspects of technology, even those that limit the number of contacts are actually viewed as tools that could be used to promote community development, again the central element of co-living. As compared the “old” technology co-living spaces are now evolving towards wireless technology through the use of various instruments. AI, Quantum Computing, Blockchain and many more. These can all be integrated into a single or extremely concentrated ecosystem that covers everything from data management for marketing purposes and improvement of service as well as energy saving accounts and Chats with parcels, interactions with staff and residents, clean access management, cleaning food and drinks and workspaces. All of this is becoming ever more crucial as the business expands, in order to cut down on operational expenses.
3. Building Intentional Communities
In this panel, the discussion focused specifically into community building and what Co-livings require in this context to be successful.
One of the most intriguing trends that could become more significant in the next few months is the growth of co-living community of people. It is usually based on the interests of both parties. Although it is an unwise decision, since it can alienate a significant portion of prospective residents However it’s a great option to build a more tight community that is united through shared interests and partnerships and, in turn, be the group more likely to stay the same after something new and exciting is brought out.
Inviting people with similar or similar experiences and interests can be a motivational factor for bonding with long-term residents, and to aid newcomers in to feel as a part of the community or just making friends with the new city.
Although human connections eventually form by themselves however, property managers and developers’ task is to create a space and facilities that help enable this as easily as is possible.
First, you must establish an in-depth understanding of a brand’s values as well as the messages that the community needs to be created. When these are understood then the management team and the company must themselves reflect these values. Then, the employees who join the company are inclined to share their thoughts and become truly part of a group that they can identify to. This certainly could be easily reflected on the evolution of co-working spaces as well as PBSAs. It is in direct relation to the design and layout of these areas.
A fascinating fact that was that was reported by the panellists is that, during the time of the pandemic, residents’ feelings of responsibility for the communal spaces actually increased. Thus, shared spaces became somewhat of their own without the need for an administrator or the community leader.
In all this, particularly during the application process, much attention is given to mental health issues that are affecting the community, as well as other social issues like race or gender-related issues.
4. Design and Construction in Co-Living Spaces
Regarding design As we have discussed previously, Biophilic Design is gaining importance , and the recent pandemic has only strengthened this need. In addition co-living interior designers needed to rethink the balance between the communal and private spaces and still provide a cost-effective living space.
Both of these topics were profoundly affected by the impact of the pandemic. First, because everyone particularly those working remotely were forced to spend more time in the indoors and the second is because social distancing has become a major concern. The changes will be a part of the future because they will improve the overall experience, and provide an immediate solution in case similar circumstances arise.
Another trend that was mentioned in the panel discussion is the importance of local culture, and as we have pointed out for other sectors like PBSA and hospitality and hospitality, bringing the local culture into the indoors. Also, without ignoring the greater impact of our globalised globe, Co-Livings as well as their community must be part of their communities. With a decrease in mobility between the years 2020-2021, this factor has also taken on greater importance.
It was a interesting event, offering numerous ideas and points of view about how the industry can change and what designers or developers, as well as the property management industry do in order to be successful in bringing something unique and effective in today’s market, as we shift towards a new normal.
