Co-working spaces pose threat to commercial real estate market, Fed official says


LaunchBio CEO Joan Siefert Rose leads a tour of life sciences co-working lab, BioLabs NC.

The growing popularity of co-working spaces like WeWork could pose a risk to the US economy in the next economic downturn, a Fed official warned on Friday.

Boston Federal Reserve Bank President Eric Rosengren, who has publicly dissented with the Fed’s recent interest rate cuts, said lower rates will boost risk in “unexpected places.”

“Evolving market models, along with low interest rates, are creating a new type of potential financial stability risk in commercial real estate,” he said at an event in New York City. “One such market model is the development of co-working spaces in many major urban office markets.”

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The Next Player in the ‘Smart City’ Game: WeWork – CityLab

WeWork Toronto Exclusive Preview at 240 Richmond Street West

We believe in data: WeWork’s algorithmically optimized site locations and décor reflect the company’s trust in numbers.

WeWork Wants to Build the ‘Future of Cities.’ What Does That Mean?

The co-working startup is hatching plans to deploy data to reimagine urban problems. In the past, it has profiled neighborhoods based on class indicators.

The We Company, the all-encompassing life-services platform formerly known as WeWork, is entering the booming business commonly known as “smart cities.” Di-Ann Eisnor, the former Google executive who helped grow Waze into a traffic-data juggernaut with 90 million monthly users, will lead the recently rebranded We Company’s efforts to build data-driven products and partnerships with cities and community groups, aimed at tackling barriers to jobs, housing, education, and other problems related to urbanization.

Continue reading… “The Next Player in the ‘Smart City’ Game: WeWork – CityLab”

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