Caton Commercial Real Estate Group is proud to represent the Co-Living Company, Medici Living Group, in their Chicago and Midwest expansion. Medici operates 70 locations across Europe and due to the positive response, Medici is beginning to expand in other major cities in the United States. The first location was in New York City and filled up within 30 days after opening in April.
Below is an article from bisnow.com that describes the Quarters brand provided by Medici Living and their plans for future expansion. After reading the article, give us a call to discuss the commercial real estate needs at your company and create a strategy to meet those needs.
Source: bisnow.com | Re-Post Caton Commercial 11/30/2017 –
After opening its first U.S. co-living location in Manhattan earlier this year, Medici Living Group is gearing up for a major expansion in 2018 as the niche housing type grows in prominence.
Medici plans to open one of the country’s largest co-living spaces in one of the country’s biggest cities in 2018. It is just one of many Quarters locations coming to market in the coming years. The Quarters brand is fashioned for the U.S. compared to the sparser Medici Living flat-sharing locations it has operated for years in its native Germany and across Europe.
Medici co-founder and Managing Director Evan Kasper said Quarters’ first location, on Grand Street in Manhattan’s Lower East Side, filled up within 30 days after opening in April, and the experience running that facility has primed it for major growth next year: in addition to a 180-bed development being built ground-up in an undisclosed U.S. location, Medici plans to open a handful of new Quarters in New York City in 2018. “Quarters is supposed to be a globally connected product where if you live in one building, you are connected to the community all across the world,” Kasper said. “To do that, you need a critical mass. The vision, that model, works at scale, and it’s something that needs to be created almost all at once to really work well.”