Another coliving company eyes Fishtown for residential project

As the popularity of coliving spaces rises across the country, several developers are eying Philly for their next dorm-like residential projects.

The latest group is New York-based company Common, which on Tuesday announced plans to build a 72-bed residential building in Fishtown by 2020. The project will feature coliving spaces, which will be private bedrooms that share lounges, kitchens, and other living areas, according to a statement from Common Tuesday. The building will also include traditional studio and one-bed apartments.

Rental costs for the building will start at $995 a month, the group said.

Though the Fishtown project will be Common’s first in Philly, the group is, “working on over $100 million in new coliving developments across over 1,000 beds,” in the city, the statement said. For their first project, they’re partnering with Elk Street Management.

Coliving spaces have been on the rise across major U.S. cities in the past year, with companies like Common promising relatively inexpensive options in popular neighborhoods and major—traditionally pricey—cities. Along with Philly, Common announced a $300 million expansion plan to bring coliving developments to Atlanta, Pittsburgh, and San Diego over the next few years.

And they’re not alone. Just last month, Berlin-based company Medici Living Group announced plans to bring a similar coliving development to Northern Liberties, with 186 living units (essentially private rooms) across 74 shared flats.