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]
