Common Announces Coliving Expansion to Philadelphia

PHILADELPHIA, PA—Common, a residential brand enhancing the quality of living for members through convenience and community, is expanding into Philadelphia. Common says it is looking at more than $100 million in new coliving developments across more than 1,000 beds with Elk Street and other developers in Philadelphia.

The first ground-up building, the 72-bed Common Frankford in Fishtown, will open in early 2020 and will mark Common’s seventh market expansion in the US, in addition to operating in New York, Los Angeles, the San Francisco Bay Area, Chicago, Seattle, and Washington DC. Common also announced this week that it will expand into three more cities, in addition to Philadelphia, over the next three years: Atlanta, Pittsburgh, and San Diego.

“Philadelphia is one of America’s iconic cities, rich with history and culture, and since 2005 has experienced a major influx of young professionals who need access to high quality housing options,” says Brad Hargreaves, co-founder and CEO at Common. “As part of our major national expansion, Common is thrilled to partner with the visionary Elk Street Management for our first home in Philadelphia. Common Frankford will be a fantastic addition to the exciting Fishtown neighborhood, perfectly situated and designed to provide the comfort and convenience Common is known for.”

Located in the Fishtown neighborhood known for its vibrant arts and culinary scene along the Delaware River, Common Frankford will feature great access to public transportation, retail, art galleries and restaurants, situated across the street from The Fillmore music venue. A comedy club, bowling alley, distillery and brewery are all around the corner. The home will offer a mix of coliving suites as well as studio and one-bedroom apartments, and provide fully-furnished shared lounges and large, shared kitchens, in-unit laundry, bike storage, and an outdoor terrace. Rents will start at $995/month for a bedroom in a coliving suite, which is 30-35% less than a market rate one-bedroom in the area. The home will open in early 2020.

“Elk Street Management is excited to work with Common to bring an innovative housing solution that contributes to the ongoing rebirth of Frankford Avenue for all Philadelphians,” says Paul Horos, partner at Elk Street Management. “We’re witnessing first-hand the revitalization of so many of our neighborhoods, and we’re eager to bring high-quality, affordable housing to Fishtown that takes advantage of its great community amenities, thriving arts scene and public transportation.”

Common opened its first New York City home in 2015 and has since grown to serve more than 700 members across 25 buildings in six markets, meeting their high consumer demand of 2,500 nationwide applications per week. Common recently announced a 223-bed home Common Addams, the largest coliving home in the Midwest, and 1500+ bed planned expansion in Los Angeles county.

Common’s signature approach to end-to-end property management and technology allows the operator to deliver unparalleled experiences for residents looking for a stress-free, community-focused, and all-inclusive living. Rent at Common homes is an all-inclusive bill that include all utilities, high-speed wi-fi, beautifully designed and furnished apartments, weekly cleanings of shared spaces, shared supplies, and hospitality-grade amenities. Everything from applying, paying rent, contacting staff, and planning events with neighbors can be done seamlessly online through their purpose-built technologies.