The Collective, the global co-living company based in New York, London and Berlin, announced the development of 292 North Eighth Street in Williamsburg, Brooklyn. The $150 million project is The Collective’s sixth acquisition in the United States since establishing its New York arm in 2018 and its fourth in New York City.
“In keeping with The Collective’s mission of fostering cultural exchange, learning and human connection, we believe that North 8th will be the first project of its kind for New York City,” said Reza Merchant, The Collective’s founder and CEO. “It will bring community of all ages together in one holistic environment, designed to promote an intergenerational exchange of knowledge through shared amenities and dynamic programming.”
The 224-unit building, designed by The Collective with Stonehill Taylor (architect of record) and One Union Studio (interior design partner for public spaces), will span 100,000 square feet and accommodate a community of 321 members. In partnership with local universities, 97 rooms will be designed for students, with the remaining 12 studios targeted for nightly and monthly stays. Residents will have access to a student lounge and classroom spaces, street-facing food and beverage options, an outdoor courtyard, a fitness and wellness level with sun terrace and a program of seminars, lectures and think tanks. The general public will also be welcome to take advantage of both the space and its programs.
“It wasn’t until we completed The Collective Old Oak in West London, which houses around 550 people between 18 and 65 years old, that we really saw the power of bringing people together around ideas and experiences in thoughtfully designed communal space,” added Merchant. “We’ve just opened the largest co-living building in the world, The Collective Canary Wharf, which houses 705 members and advances our mission to foster human connection and enable people to lead more fulfilling lives.”
To date, the company has raised over $1 billion to fund its growth. In November 2019, it opened its first U.S. location, The Collective Paper Factory in Long Island City, Queens. 292 North Eighth Street will open in 2022, alongside previously announced Brooklyn projects at 555 Broadway and 1215 Fulton Street. Also in development are 2825 NW Second Avenue in Miami, Florida’s Wynwood District and 633 La-Salle in Chicago, Illinois. The Collective has announced plans to launch 100,000 units by 2025.
