US: WeWork has signed its first partnership with a residential developer, to provide workspace at a multifamily asset in Chicago.
WeWork has teamed up with Chicago-based Cedar Street to operate a 25,000 square foot, two-story coworking space in the grand hall of the 12-story Bridgeview Bank building at 4753 North Broadway in the city’s Uptown neighbourhood, which Cedar Street is transforming into 176 apartments.
The space will feature 60 private offices with 176 desks, private phone booth offices and kitchen space, with some of the space to be reserved for members of WeWork’s All Access Program.
The agreement with Cedar Street could be the first of several to come, WeWork said.
It is also collaborating with building management tech company Latch to provide residents of Latch-enabled multifamily buildings in New York City with WeWork All Access membership.
Latch said the deal is indicative of “growing demand from workers residing in apartments to have access to a third workspace between the home and office”.
“As more companies and individuals head back to the office, we keep hearing the same thing — people want greater flexibility in where, when, and how they work,” said WeWork COO Melinda Holland. “As many workers desire the in-person collaboration and connection that the office affords, they also want the option of an office environment closer to home, resulting in increased demand for flex space outside of downtown.”
