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People visit the booth of WeWork as they attend the TechCrunch Disrupt event in Manhattan, in New York City, NY, U.S. May 15, 2017.. (photo credit: EDUARDO MUNOZ / REUTERS)
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Is WeWork’s co-living space WeLive on its way to Israel? American collaborative work-space company WeWork might be set to build on its early success in Israel by launching its co-living venture WeLive in Jerusalem, Calcalist reported on Tuesday.
The Jerusalem District Planning and Building Committee reportedly approved plans to enlarge WeWork’s Jerusalem home at the former Mashbir department store on King George Street from four to 10 floors, enabling construction of an additional 2,200 sq.m. of office space, 4,300 sq.m. of retail space and 98 residential units.
Citing an unnamed source familiar with the plans, Calcalist said WeWork is currently in negotiations to lease the additional office and residential space. Eighty of the residential units are expected to be 45-sq.m. studios.
A WeWork representative, however, told The Jerusalem Post that the report was incorrect.
“We believe WeLive is a product with global value. However, there are no current plans to bring WeLive to the Mashbir Building in Jerusalem,” the company representative said.
WeLive, launched in 2016, applies the same concept that has made WeWork’s collaborative work-spaces an instant success in 22 countries across the world, including 11 locations in five Israeli cities.
Offering short-term or longterm options, WeLive provides fully-furnished rental apartments grouped together with shared services including communal kitchens, laundry rooms and roof decks.
The company’s initial shared-living spaces were launched in New York City and Crystal City, near Washington DC, offering a range of living options including private studios and four-bedroom apartments, and common areas for residents such as yoga studios and movie theaters.
Although shared living, or “co-living,” is not a new idea – with some suggesting that Israeli-born WeWork co-founder and CEO Adam Neumann may have been inspired by his childhood at Kibbutz Nir Am – affordable housing options have become increasingly desirable given high rental prices in the world’s largest cities.
In January, Tel Aviv municipality’s chief planner Orly Erel told Calcalist the city was working with WeWork to open co-living spaces, but cited prohibitive legal specifications regarding what constitutes an apartment
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