Think Tank Partners posted on Sep 13, 2019
Conscious Coliving: The Manifesto
Conscious Coliving envisions a future living paradigm where people are consciously connected to self, others and nature. They consult with shared living ventures to transform their communities so that they foster environmental sustainability, personal well-being and authentic connection.
Conscious Coliving is supporting Coliving ventures throughout various development stages to ensure the thriving of these communities.
We are proud to present below guest blog written by Shared Living consultant at Conscious Coliving, Penny Clark:
Coliving: Rented accommodation with an emphasis on shared space and community, presents an exciting new housing typology that taps into the mindset of urban millennials, offering flexibility, convenience and community.
Growth in this industry has been impressive: the five top-funded Coliving spaces have secured $3.7 billion collectively (see for example investments into Medici, Mofang Gongyu and ZiRoom), and industry experts argue that market conditions signal a strong potential for this trend to continue. There is every sign that Coliving is more than just a fad and is, in fact, part of a fundamental shift in the private rental sector.
Introducing Coliving: a trend on the rise
The rise of Coliving, with its potential net rent premiums of 30% above conventional apartments, should not only be seen as good news for property developers and operators but as a positive innovation for residents as well. Coliving re-conceptualises living in accordance with the values of a new generation: collaboration over competition, shared resources instead of private ownership and reclaiming time for meaningful experiences over non-stop busy work life.
Coliving has huge potential for transforming our current living paradigm and Coliving spaces are already measuring the positive impacts they have on their residents and their local communities (for examples see Venn’s and The Student Hotel’s impact reports).
However, we must also acknowledge that there is a danger for poor practice to proliferate in this industry; something which has caused resistance to the idea of Coliving (see, for example, the negative reactions to proposed plans for Coliving in Dublin). Without actively encouraging a sense of wellbeing and community, Coliving can simply become residents renting ever-smaller spaces without the benefits and joys that shared living can bring.
The Conscious Coliving Manifesto
Having spoken to and worked with many Coliving operators and developers, we soon saw the need for an industry Manifesto. Our Conscious Coliving Manifesto presents what we believe to be the true potential of Coliving and can be used as a framework through which operators and developers can conceptualise a sustainable and human-centred approach to Coliving.
At the heart of the Manifesto is the idea of connection. We believe that Coliving should enable greater connection with the self, through wellbeing practice; greater connection with others, through authentic community; and a greater connection with the wider world, through connecting with nature and through sustainable practices.
The Manifesto also acknowledges that in order for these types of connectivity to flourish, they need infrastructural support. For this, we have included four supporting pillars, labelled design of physical space, sustainable financial model, wise management and operations, and policy and regulation.
With this Manifesto, we aim to clearly and tangibly place the core aspects of wellbeing, community and environmental sustainability at the heart of what it means to have a Coliving space.
How to use the Conscious Coliving Manifesto
The Manifesto is our North Star: a reminder of what matters and what inspires us. However, we also see it as a practical tool. You can use the Manifesto along with the following questions in order to assess your own Coliving space, whether you are in the process of development or are already operating. This tool helps Coliving developers and operators create and design more impact-driven and human-centred Coliving spaces that allow for the flourishing of their residents and local communities.
You may want to focus on the three core aspects, and ask:
- What enables wellbeing in my Coliving space? Where could we improve?
- What enables authentic community in my Coliving space? Where could we improve?
- What environmental sustainability practices are we engaging in? Where could we improve?
Or you may want to use the four supporting pillars to ask similar questions:
- How are architecture and interior design enabling wellbeing, social interaction and environmental sustainability?
- Does our financial model support residents and staff in terms of fostering a sense of wellbeing and community, as well as being financially sustainable and scalable?
- What are the pain points in our management and operations? How might we change processes to improve resident wellbeing, increase levels of positive social interactions, or be kinder to the environment?
- Are policy and regulations working in our favour? What might we do to, perhaps collectively, to foster an environment which can support thriving Coliving communities that enable wellbeing, community and sustainability?
Embodying these values will help ensure that Coliving is financially sustainable in the long term, welcomed rather than prohibited by policymakers, and will have a positive and long-lasting impact.
Conscious Coliving: Who we are
Conscious Coliving is a consultancy supporting Coliving developers and operators in creating thriving Coliving spaces. We can help you to find answers to the questions above and can aid in integrating wellbeing, authentic community and environmental sustainability into your business. We offer support at every step of the journey, from assessing the feasibility of a project, visioning Coliving spaces, planning operations all the way through to launching. For current operators, we conduct impact assessments and offer tailored strategies to optimise the community at all levels. We furthermore collaborate with partners to conduct research and gain insights into the Coliving movement. You can find out more about us at consciousColiving.com.
Conscious Coliving partners with Salto to help Coliving spaces run their operations smoothly so that they can focus on enhancing the wellbeing, sustainability and impact of their communities.
Explore the world of shared living by watching this free webinar!
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