US: Coliving provider Eddy has expanded its Los Angeles presence with a new student facility.
The new Eddy coliving space is located adjacent to an existing Eddy coliving building, and, together, the two buildings make up Eddy East Hollywood.
Before the pandemic, Eddy largely relied on international renters, which made up 25 per cent of its customers, as well as creative young people, which amenities like recording studios were aimed to support. Due to the pandemic, the number of international renters has dropped.
In order to combat the lack of international renters, Eddy has reached out to local universities to provide housing for students.
Eddy’s co-founder, Leeor Maciborski, explained that some colleges used to house students in corporate housing but now find Eddy’s facilities to be a superior option. Maciborski explained that Eddy’s facilities were a better choice for student housing than corporate housing because univerities thought “that was not the experience they wanted in terms of price and community and what the buildings felt like. They walked into our spaces, and they feel more youthful.”
Colleges have also been utilising Eddy for students in summer internships. Some colleges have formal partnerships with Eddy, reserving a certain number of rooms per summer, while others simply send students that need housing.
Eddy’s co-founder, Leeor Maciborski, said: “Covid was dramatic, especially for communal living. A good amount of our renters come from out of the country. Those have been kind of replaced by the students. It’s the biggest internship term we’ve ever seen. People are excited to get out. That’s a good offset.”
Eddy, which was founded in 2018, also opened two Los Angeles area locations last year: Eddy Beachwood Canyon and Eddy West Hollywood. Eddy aims to offer guests at all locations a coliving concept, which Maciborski described as “shared living at a lower price point for people who just moved to L.A.” Eddy facilities typically offer community events, shared communal spaces, amenities, and flexible leases.
Eddy East Hollywood leases are on a month-to-month basis, as Eddy aims to “develop something where people can come and go as they please.” Eddy East Hollywood includes a recording studio, a rooftop, and a fitness centre.
The company has attempted to combat Covid outbreaks by requiring proof of vaccination and providing more private rooms, as opposed to shared spaces.
Maciborski believes that his company is superior in design to other coliving options offered to renters.
Maciborski said: “Common is the largest player in the space in the country. They are great at offering a very homogenous project. If you move into a Common anywhere, it will be a very homogenous experience. We try to be hyper local. We try to be really fun about it and do a little bit extra and provide accessible, higher design.”
