Common (company)

{{Short description|American coliving company}}

{{Infobox company

| name = Common

| logo =

| type = Private

| industry = Real estate

| fate = Bankrupted

| predecessor =

| successor =

| founded = {{Start date and age|2015||}} in New York City

| founder = Brad Hargreaves

| defunct = {{End date|2024|06}}

| hq_location_city = New York City

| hq_location_country = United States

| area_served =

| key_people =

| products =

| owner =

| num_employees =

| num_employees_year =

| parent =

| website = {{URL|common.com}}

}}

Common is an American coliving company founded in 2015 and headquartered in New York City. Brad Hargreaves is the company's CEO and founder. As of June 2020, Common manages 48 multifamily buildings in nine cities across the U.S.: New York, Jersey City, Los Angeles, San Francisco, Chicago, Washington, D.C., Seattle, Philadelphia, and Fort Lauderdale.{{Cite web|title=Common Website|url=https://www.common.com/|access-date=2020-06-19|website=common.com/}} The company has plans to expand to 22 cities across the globe, and has 15,000 beds signed and under development.{{Cite web|first=Martel|last=Sharpe|date=2020-07-15|title=Residential company to establish second headquarters in Atlanta, create 274 Jobs|url=https://www.theatlantavoice.com/articles/residential-company-to-establish-second-headquarters-in-atlanta-create-274-jobs/|access-date=2020-09-09|website=The Atlanta Voice}}

In March 2019, Common partnered with New York real-estate developer Tishman Speyer to launch the brand Kin, whose "buildings will feature playrooms, family-size units and on-demand child care through an internal mobile app that also helps connect families looking to share nannies and babysitters."{{cite news |last=Kusisto |first=Laura |title=Cities Lack Family Apartments. Developer of Adult Dorms Has an Answer. |url=https://www.wsj.com/articles/cities-lack-family-apartments-developer-of-adult-dorms-has-an-answer-11552993201 |work=The Wall Street Journal |location=New York, New York |date=March 19, 2019 |access-date=June 10, 2019 }} In May 2020, Common announced the launch of Noah, a workforce housing brand. Noah operates “Class B and C multifamily buildings where renters earn 40 percent to 80 percent of the area median income” and as of March 2020, is operating “500 units over five properties in Hampton Roads and Winchester, Virginia.” {{Cite web|last=Rebong|first=Kevin|date=2020-05-04|title=Coliving Firm Common Launches Property Management Brand|url=https://therealdeal.com/2020/05/04/common-unveils-property-manager-for-workforce-housing/|access-date=2020-09-09|website=The Real Deal New York|language=en-US}}

From 2015 to 2017, Common raised $63.35 million in funding. The latest Series C funding round led by Norwest Venture Partners raised $40 million.{{cite news |author= |title=Co-living concept charms another $40M out of eager US investors |url=https://rew-online.com/2018/01/co-living-concept-charms-another-40m-eager-us-investors/ |work=Real Estate Weekly |location=New York, New York |date=January 3, 2018 |access-date=June 10, 2019 }}

As of July 2024, Common Coliving filed for bankruptcy.{{cite news |author=Webster, Seamus |title=Co-living seemed like a perfect solution to the Gen Z and millennial housing shortage—but the closure of yet another pioneer reveals an uncertain future |url=https://fortune.com/2024/06/10/common-living-coliving-apartments-housing-shortage/ |work=Fortune.com |date=June 10, 2024 |access-date=May 13, 2025}}