May 04, 2022
Driving Innovation, Impact & Change Through Stakeholder-Driven Shared Living - Coliving Ventures
When developing shared living communities, one of the most vital questions you can ask yourself is: “Who are our people”? In our personal lives, ‘our people’ may be limited to a few close circles of family, friends, peers, and colleagues. In our professional lives and in business, we also often only think about a few primary stakeholders, and most of the time our highest priorities come from one main stakeholder: our shareholders. In the real estate world this especially runs true, as the development, reconversion and /or management of real estate assets relies on significant funds and equity from a variety of institutional, established and private investors.
Without these investments (and the shareholders behind them), it would be very difficult to develop and manage sustainable and financially viable real estate schemes. That said, there are many (many) more stakeholders involved in all aspects of real estate development, from the planning, construction and development stages through to operations and way beyond. This is why we as real estate professionals must always be thinking about all of our people, and really understand the vast ecosystems of stakeholders we are collaborating with and impacting.
So, what does this mean for shared living communities? Shared living can be considered as an umbrella for multiple specialist residential real estate classes including coliving, purpose-built shared living (PBSL), purpose-built student accommodation (PBSA), built to rent (BTR), cohousing, hybrid hospitality, senior housing and other forms of communal living. All of these sectors cater to a variety of demographics and psychographics and the needs and interests of their stakeholders must be considered from the start of the ideation and design phases...
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