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Common, a property management firm that specializes in co-living, is entering the Seattle market through a partnership with developer Anew Apartments.
The company will assume project management of two Anew properties: the 112-room Common Terry on Capitol Hill and the 49-room Common Summit on First Hill. Common Summit is open, while leasing is underway at Common Terry.
Each home features private rooms with their own bathroom and kitchenette that are situated around a fully furnished shared lounge and large shared kitchens on each floor. Common Terry features an outdoor barbecue area, and Common Summit has balconies on some units.
“Seattle has been on our radar for expansion,” Common CEO and founder Brad Hargreaves said in a statement. “We’ve found the perfect developer partner in Brad Padden, who shares our commitment to creating quality housing that fosters a true community. These two buildings were already well designed for coliving, and we look forward to bringing our unique offering to the city.”
“Our renovation and adaptive reuse projects have been extremely well-received by the Seattle rental market, and each one moves the needle toward a more equitable and resilient city," Anew Apartments co-founder Brad Padden said in a statement.
Co-living providers are seeing potential in Seattle. WeWork is bringing its WeLive co-living concept to the city in a partnership with Martin Selig Real Estate to build a 36-story mixed-use development in Belltown. The project will be WeLive's largest to date and its first on the West Coast.
Common designs and operates co-living residences where residents are considered “members.” Prices for the Seattle units begin around $1,200/month for a 12-month lease. Common also operates in New York, San Francisco, Chicago and Washington, D.C.
CORRECTION, JULY 17, 7:50 A.M. PT: A previous version of this story had the wrong amount for unit prices in Common's new Seattle location. The story has been updated.
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