US: WeWork is looking to wind down its WeLive coliving project, according to media reports.
Bloomberg says the company is working with an advisor and holding talks about handing over operations of its WeLive location in Crystal City, near Washington DC, quoting an anonymous source close to the talks. It is also said to be considering options for its second location, on Wall Street in New York City.
WeWork branched out beyond coworking under its cofounder and former CEO Adam Neumann, opening a school and expanding into communal living.
Since its failed IPO and Neumann’s resignation last year, the company has refocused on its core offer, closing its elementary school WeGrow, and selling non-core holdings.
WeLive, which offers fully-furnished apartments for stays of one night or longer, is currently advertising a discount of two free months if new tenants sign an annual lease at one of its two locations.
