Q210: How will New York City zoning and housing regulations change to accommodate co-living?
“Lease-by-the-room is coming into view for New York City residents, developers, property managers.”
Certain co-living brands want to address the gap in affordable housing in expensive urban rental markets like New York. On this episode I speak with Brian Lee, senior director of real estate at Common, one of a handful of co-living brands now operating in New York and beyond, about how local policy could shift to include co-living as a recognized category of affordable housing. The city recently issued a request for information called ShareNYC, which aims to explore the co-live concept as an instrument to grow more affordable housing stock. Longer term, looser housing policy could further blur the lines between traditional residential housing and hospitality.