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Small Cities Use Co-Living, Co-Working To Attract Young Professionals

WASHINGTON DC 05.08.2017

MONTGOMERY COUNTY STATE OF THE MARKET

Featuring an Interview of Marriott CEO Arne Sorenson

Arne Sorenson -- Marriott International
Mike Gill -- The State of Maryland
Barry Glassman -- Glassman Wealth Services
Co-living

Hip co-working space isn’t always enough to lure young professionals to small cities—but it looks like the added combo of co-living space does the trick.

That’s been the case for small cities like Chattanooga, TN, where Lamp Post Properties recently invested $8M into a downtown building that offers residents flexible lease terms and shared workspace, the Wall Street Journal reports. Tenants here have the option of three-month, six-month or full year leases that run between $895 and $1,300 a month.

Young professionals often have a hard time shelling out asking prices for long-term leases in gateway cities, and many have started turning towards co-living spaces. WeWork recently expanded into the co-living sector with WeLive in NYC and DC, and it looks like this revolution is coming to small cities. [WSJ]