Oaktree Development-Owned Building To Be Site Of DC's First Common Co-living Space
The co-living space is going in an Oaktree Development-owned building on Richardson Place NW, above, a small dead end street off 4th Street NW just south of the Florida Ave/Rhode Island Ave intersection, Washington City Paper reports.
The location, dubbed Richardson, is just a short walk from the Millennial-filled Shaw neighborhood. It is, however, on a quieter street with older residents who expressed concerns to the paper about the 24-unit multifamily building with short-term leases opening next door.
Oaktree is converting the existing structure into a 10,700 SF building with 24 bedrooms between 120 and 140 SF. Common sells 12 month memberships starting at $1,700 a month but also offers three- and six-month options. The first tenants are expected to move in next month. [WCP]