When co-working spaces first came on the scene in the 2000s, they were responding to a very niche entrepreneur market. The proliferation of co-working, however, is part of a larger trend in shifting tastes. Millennials, drawn to the communal and sharing aspects of co-working and co-living, as well as to the sharing economy in general, are making a departure from traditional working and living situations that were once the norm.
Co-working has absolutely exploded on the scene. In 2005, there was only one co-working facility in the entire country. Today there are 800, with co-working companies continuing to expand stateside and abroad. With Millennials delaying marriage and family, companies providing co-living services are also becoming increasingly popular. These companies essentially replicate the college dorm model in adult housing, allowing people to lease space individually but share common areas such as kitchens and bathrooms, all for a fraction of the price of renting their own 1-bedroom apartment.
In the past, home-based workers would simply meet with their clients or collaborators as needed. Today, Millennials crave that experience on a regular basis to enhance and bring meaning to their work life. They are also attracted to the convenience and structure of these arrangements. Just as they would rather use Uber than buy a car, they would rather take advantage of the networking advantages of co-working. As Millennials mature, it will be interesting to see how the sharing economy matures with them.
Workville offers New York offices for rent in one of the leading co-working communities. The co-working space offers an extremely flexible pricing structure, with minimum pricing for open co-working as well as private desk and office space, and a bidding system which allows members to name their own price.
Full of the type of upscale feel you might get from a five-star hotel, the space’s layout is organized into “work terraces” that create a bright, intimate setting that promotes productivity and collaboration. The co-working space gives start-ups and entrepreneurs working space at a fraction of New York commercial real estate prices.