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To solve Silicon Valley’s housing crisis, a startup is renting $2,000 dorm rooms for grown-ups. The buildings are "renovated from the ground up" with farm sinks, chic bathrooms, and on-trend furniture from West Elm and CB2. “No IKEA stuff.”http://read.medium.com/dsGFfgy
@starcity CEO @JonDishotsky says his co-living project is the best way to create affordable housing in the most expensive place to live in the U.S.
Monthly rent for residences varies depending on the location, but generally ranges from $1K to $2,300.http://read.medium.com/dsGFfgy
Co-living, of course, is nothing new. Companies like Common and WeWork have pitched similar projects to solve housing problems of America’s big cities. Dishotsky wants to bring a similar model to one of the most strained housing markets in the country. http://read.medium.com/dsGFfgy pic.twitter.com/Gp2CQiMBnJ
In San Jose, the state’s housing crisis has reached a boiling point. More than half of the city’s renter households are “rent-burdened,” meaning residents pay more than one-third of their income to their landlords.http://read.medium.com/dsGFfgy
“To get a taste of what Starcity San Jose might look like when it’s completed, I traveled to San Francisco, where the company runs multiple co-living properties.” — @ajzaleski http://read.medium.com/dsGFfgy pic.twitter.com/WaKe4V0bd2
Not everyone is buying the pitch. For housing advocates, the project represents a market-based housing solution for the very individuals squeezing out lower-income residents.http://read.medium.com/dsGFfgy
I don’t get the snobby anti-IKEA stance though. There’s a housing crisis for good reason if people can’t use IKEA furniture because is beneath them.
Capitalism at the intersection of marketing. You can’t make a $2K dorm room sound good _Full stop_ But especially* with just IKEA furniture. Gotta build in some form of snobbish exclusivity aspect, and that’s probably the best they got besides Evian water on the tap on Tuesdays.
Depressing
You’re not allowed to live in a van anymore. It hurts the property values of these $2000-a-month tenements
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