A three-way partnership among Kin, a construction developer that retrofits old buildings and builds from the ground up new structures along with new technology and apps, Common, a co-living operator currently functioning in 24 building in six US cities and Tishman Speyer, a multi-national owner-operator with $88B in assets across 28 global markets is launching a new co-living concept designed to create “family-friendly urban living.”
According to Curbed, this partnership is creating custom-built co-living situations that feature shared playrooms, shared family kitchens, shared parking for strollers, soundproofing between units, baby proofing on cabinets and outlets, smart blinds, black-out shades, built-in storage areas, out-of-sight charging stations for phones and mobile devices, etc.
Some co-living buildings will also have roof top pools, workout rooms and other resort-style must-have amenities.
This partnership is also creating technologies specific to each co-living space. Community members will be given apps to help them connect with babysitters, delivery services, playgroup sessions, cleaning services and specialty professionals such as music teachers, computer instructors and sports teachers/coaches.
The foundational premise of this partnership is dedicated to helping young families build community in urban settings that are often financially and/or socially daunting. A Kin spokesperson said that rents are to be just below median rents for comparable multi-family products.
A Kin-branded building in New York’s Jackson Park complex currently rents for between $3,500 – $6,500/month based upon unit size and location.
Comparable average costs for a 2-bedroom apartment in northwest Queens are $3,936/month and $3,921 for a 3-beroom apartment, according to Miller Samuel Appraisers.
No communications about procedures for resident selection or dispute resolutions were mentioned in this recent Curbed article.