New ‘co-living’ housing option spreads its wings in New York

Gil Hirak, head of US operations and community of Quarters, speaks with a colleague on the rooftop of Quarters Co-Living in New York City. (AFP)
Updated 12 August 2019

New ‘co-living’ housing option spreads its wings in New York

  • Companies reduce many traditional sources of friction between roommates

NEW YORK: Nandita Iyer landed in New York from Bombay without knowing anyone, but she did not want to live alone in a “sketchy studio.” So instead she opted for a room in a “co-living” unit.
She lives with roommates in one of the 14 apartments in a small building run by the housing startup Quarters in the trendy Lower East Side neighborhood.
The best part of the arrangement, she said, are the common areas: A large kitchen with a big table and comfy couches, a terrace where she can work and a luxurious rooftop patio.
“I met people from such different backgrounds. And I became very good friends with them,” she said.
And she even found mentors to help with her job search.
Group living arrangements are not new: Many people have lived with roommates, in student dormitories or retirement homes.
But with housing costs skyrocketing in major cities and amid changing lifestyles, start-up companies are offering to take care of everything for renters, including the social life of their residents.
Demand for these new group housing arrangements is on the rise, especially among young people aged 18 to 35 — the millennials — so more and more projects are appearing on the rental landscape.
Real estate brokers Cushman & Wakefield estimated in May that the major US co-living startups had about 3,200 rooms available with 16,700 in the pipeline. The new players include Quarters, Common, Ollie, Starcity, X Social Communities, The Collective and WeLive.
Quarters manages three residences in New York and Chicago and is preparing to grow quickly. Its German-based parent company, Medici Living, just raised $300 million to expand in the US market, in addition to €1 billion to develop in Europe.

HIGHLIGHTS

• Amenities are more sophisticated than at Quarters: Residents have access to a gym, golf simulator and top floor with open views of Manhattan, Brooklyn and Queens.

• Like many coliving providers, Ollie’s boasts that it organizes social events several times a week, like museum visits or cooking classes.

• It also allows residents to communicate with each other on a dedicated application.

“We provide an easy solution for people looking to move into big cities,” said Gil Hirak, head of US operations for Quarters.
From the virtual tour to the signing of the lease, everything can be done online. Then “you just move in with a suitcase,” since units are furnished.
The companies also reduce many traditional sources of friction between roommates by taking care of all the practical details: Basic products such as toilet paper, cleaning, internet or electricity bills.
“During the week, we’re so busy. Housekeeping is really helpful,” said resident Eric Tauro, a 29-year-old architect.
After finishing his studies he was “researching what would be the easiest way” to move to New York.
He set his sights on Ollie’s third project in a large new building in fast-growing Long Island City. The startup occupies a third of floors in the complex, with 422 beds available in 169 apartments.
Amenities are more sophisticated than at Quarters: Residents have access to a gym, golf simulator and top floor with open views of Manhattan, Brooklyn and Queens.
Like many coliving providers in the city, Ollie’s boasts that it organizes social events several times a week, like museum visits or cooking classes.
It also allows residents to communicate with each other on a dedicated application.


Huawei given 90 days to buy from US suppliers

Trader Tommy Kalikas works on the floor of the New York Stock Exchange, Monday, Aug. 19, 2019. (AP)
Updated 20 August 2019

Huawei given 90 days to buy from US suppliers

  • Shortly after blacklisting the company in May, the Commerce Department initially allowed Huawei to purchase some American-made goods in a move aimed at minimizing disruption for its customers

WASHINGTON: US Commerce Secretary Wilbur Ross said Monday the US government will extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from US companies so that it can service existing customers, even as nearly 50 of its units were being added to a US economic blacklist.
The “temporary general license,” due to expire on Monday, will be extended for Huawei for 90 days, he told Fox Business Network Monday, confirming an expected decision first reported Friday by Reuters. He also said he was adding 46 Huawei affiliates to the Entity List, raising the total number to more than 100 Huawei entities that are covered by the restrictions.
Ross said the extension was to aid US customers, many of which operate networks in rural America.
“We’re giving them a little more time to wean themselves off,” Ross said.
Shortly after blacklisting the company in May, the Commerce Department initially allowed Huawei to purchase some American-made goods in a move aimed at minimizing disruption for its customers.
The extension, through Nov. 19, renews an agreement continuing the Chinese company’s ability to maintain existing telecommunications networks and provide software updates to Huawei handsets.
Asked what will happen in November to US companies, Ross said: “Everybody has had plenty of notice of it, there have been plenty of discussions with the president.”
When the Commerce Department blocked Huawei from buying US goods earlier this year, it was seen as a major escalation in the Sino-US trade war.
The US government blacklisted Huawei, alleging the Chinese company is involved in activities contrary to national security or foreign policy interests.

BACKGROUND

The US blacklisted Huawei, alleging the Chinese company was involved in activities contrary to national security or foreign policy interests.

As an example, the blacklisting order cited a pending federal criminal case concerning allegations Huawei violated US sanctions against Iran. Huawei has pleaded not guilty in the case.

The order noted that the indictment also accused Huawei of “deceptive and obstructive acts.”
At the same time the US says Huawei’s smartphones and network equipment could be used by China to spy on Americans, allegations the company has repeatedly denied.
Huawei, the world’s largest telecommunications equipment maker, is still prohibited from buying American parts and components to manufacture new products without additional special licenses.
Many Huawei suppliers have requested the special licenses to sell to the firm. Ross told reporters late last month he had received more than 50 applications, and that he expected to receive more. He said on Monday that there were no “specific licenses being granted for anything.”