Archinect - News 2024-11-23T04:47:28-05:00 https://archinect.com/news/article/150415642/adam-neumann-is-attempting-to-buy-his-way-back-into-wework Adam Neumann is attempting to buy his way back into WeWork Josh Niland 2024-02-06T20:00:00-05:00 >2024-02-07T13:58:23-05:00 <img src="https://archinect.gumlet.io/uploads/29/29511a2acf497c917bbcef8c8609f775.jpeg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>Five years after driving WeWork into the ground, co-founder and ousted CEO Adam Neumann has now hatched a plan to buy it out of bankruptcy. In a letter to WeWork&rsquo;s advisers obtained by The New York Times, Neumann and his new real estate business, Flow Global, express interest in buying the co-working space solution &mdash; but claim WeWork has been ignoring attempts to get more information so they can come up with a bid.</p></em><br /><br /><p><a href="https://archinect.com/news/tag/571846/wework" target="_blank">WeWork</a>, meanwhile, is beginning to walk away from <a href="https://www.nbcboston.com/boston-business-journal/wework-closes-large-boston-location-withholds-rent-at-others/3266011/" target="_blank">even more properties</a> under the direction of new CEO David Tolley after announcing an initial <a href="https://archinect.com/news/article/150399011/wework-seeks-to-vacate-40-new-york-properties-following-bankruptcy-filing" target="_blank">list of 40</a> that would be relinquished in November.&nbsp;</p> <p>Neumann had cited outside scrutiny as his main reason for leaving the company in September 2019. His attempts since December to purchase the company through his <a href="https://archinect.com/news/article/150320584/wework-co-founder-adam-neumann-is-getting-into-the-housing-market-with-a-new-startup" target="_blank">new housing startup Flow Global</a> constitutes the second such push since Bay Area financier Dan Loeb funded the project in August 2022. The return-to-office downturn is being cited as their principal motivation. In a <a href="https://static01.nyt.com/newsgraphics/documenttools/dc0a03694446d7d0/99f95f8d-full.pdf" target="_blank">letter</a> to WeWork advisers, Neumann's attorney said it would be a "value-maximizing transaction for all stakeholders."</p> <p>WeWork currently owes about $18.6 billion in debts, according to their <a href="https://archinect.com/news/article/150393720/wework-is-mulling-a-potential-chapter-11-bankruptcy-filing-according-to-reports" target="_blank">Chapter 11 bankruptcy filing</a> from November.</p> https://archinect.com/news/article/150399011/wework-seeks-to-vacate-40-new-york-properties-following-bankruptcy-filing WeWork seeks to vacate 40 New York properties following bankruptcy filing Josh Niland 2023-11-15T14:32:00-05:00 >2024-10-25T04:07:38-04:00 <img src="https://archinect.gumlet.io/uploads/61/61ddc1025295c823bf810c32fb561818.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p>After officially <a href="https://apnews.com/article/wework-bankruptcy-be8c36b9720377334645e37c73d55e6e" target="_blank">filing for Chapter 11 bankruptcy protection</a> last week, <a href="https://archinect.com/news/tag/571846/wework" target="_blank">WeWork</a> has released a subsequent <a href="https://document.epiq11.com/document/getdocumentbycode?docId=4244811&amp;projectCode=WWK&amp;source=DM" target="_blank">list</a> of 40 &ldquo;underperforming locations&rdquo; across New York City that the company hopes to walk away from over the coming months pending court approvals.</p> <p>The news was first <a href="https://commercialobserver.com/2023/11/wework-bankruptcy-rejects-40-leases-new-york/" target="_blank">made public</a> via the <em>Commercial Observer</em>, which also reported WeWork as identifying another 29 properties in the U.S. and Canada it plans to relinquish. The news adds to concerns over the performance of the commercial real estate market in New York and other cities. WeWork had been, until very recently, one of the biggest tenants in Manhattan.</p> <p>The company has retained Hilco Real Estate to re-negotiate terms on its more than 400 outstanding leases and will allow some members to re-negotiate with landlords directly in certain cases. Current members will be transferred to better-performing locations still operated by WeWork. (The company has a total of 779 properties worldwide.)</p> <figure><p><a href="https://archinect.gumlet.io/uploads/34/34943dc99ae3041a50b919c3421b5030.jpg?auto=compress%2Cformat&amp;enlarge=true&amp;w=1028" target="_blank"><img src="https://archinect.gumlet.io/uploads/34/34943dc99ae3041a50b919c3421b5030.jpg?auto=compress%2Cformat&amp;enlarge=true&amp;w=514"></a></p><figcaption>Related on Archinect: <a href="https://archinect.com/news/article/150330298/wework-is-cutting-back-as-losses-continue-into-q3" target="_blank">WeWork is cutting ...</a></figcaption></figure> https://archinect.com/news/article/150393720/wework-is-mulling-a-potential-chapter-11-bankruptcy-filing-according-to-reports WeWork is mulling a potential Chapter 11 bankruptcy filing, according to reports Josh Niland 2023-11-01T16:03:00-04:00 >2024-10-25T04:07:38-04:00 <img src="https://archinect.gumlet.io/uploads/83/83c611bcbcd83a14345d22891b680c7e.jpeg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p><a href="https://archinect.com/firms/cover/9113346/wework" target="_blank">WeWork</a>'s tumultuous thirteen-year saga may be coming to an end soon, as now <a href="https://www.reuters.com/business/wework-shares-sink-reports-imminent-plans-bankruptcy-filing-2023-11-01/" target="_blank">Reuters</a> and the <em><a href="https://www.wsj.com/articles/wework-plans-to-file-for-bankruptcy-as-early-as-next-week-1fdcb6a5" target="_blank">Wall Street Journal</a> </em>have reported on the company&rsquo;s apparently imminent plans to file for Chapter 11 bankruptcy in New Jersey.</p> <p>The news was first reported by the <em>WSJ</em> early Tuesday, precipitating a dramatic nearly 50% drop in WeWork&rsquo;s stock evaluation. A spokesperson for the company <a href="https://www.cnn.com/2023/11/01/investing/wework-shares-plunge-bankruptcy-reports/index.html" target="_blank">told reporters</a> from CNN the same day that they would not comment on the legal maneuver, calling the news &ldquo;speculation.&rdquo;</p> <p>Shares of WeWork have fallen by 96% since the beginning of the year. The business model founder <a href="https://archinect.com/news/tag/722524/adam-neumann" target="_blank">Adam Neumann</a> developed into a record-breaking $47 billion initial valuation was ultimately felled by the post-pandemic rise in remote work and other factors, including multiple conflicts of interest that led to his resignation in September 2019.</p> <p>Neumann has since <a href="https://archinect.com/news/article/150320584/wework-co-founder-adam-neumann-is-getting-into-the-housing-market-with-a-new-startup" target="_blank">pivoted</a> to a new housing startup venture called Flow last summer following a $350 million outside investment and is yet to provide his own stat...</p> https://archinect.com/news/article/150330298/wework-is-cutting-back-as-losses-continue-into-q3 WeWork is cutting back as losses continue into Q3 Josh Niland 2022-11-14T17:02:00-05:00 >2022-11-14T17:02:05-05:00 <img src="https://archinect.gumlet.io/uploads/39/396bfe14728a803f06661f727a00b5d1.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>WeWork said Thursday that it was going to close roughly 40 &ldquo;underperforming&rdquo; locations in the United States and tempered its revenue forecast for the year, highlighting the challenges the co-working company still faces after its near collapse and subsequent bailout in 2019.</p></em><br /><br /><p>The company reported a <a href="https://www.bloomberg.com/news/articles/2022-08-04/wework-we-earnings-occupancy-rate-matches-pre-pandemic-level" target="_blank">pre-pandemic level</a> matching 71% occupancy rate for Q3 but will fall short of previously projected revenue values for the year owing to &ldquo;lower than expected&rdquo; growth in the U.S., Canada, and Japan. Its own <a href="https://archinect.com/firms/cover/149938824/s9-architecture" target="_blank">S9</a>-designed <a href="https://archinect.com/firms/project/149938824/dock-72-brooklyn/150260283" target="_blank">Dock 72</a> corporate offices in Brooklyn were also reduced as a result of the financials. In an earnings call, CEO Sandeep Mathrani pointed to the &ldquo;headwinds in the office sector&rdquo; as a potential advantage as it looks to rebound and pay back debts to SoftBank and JPMorgan before 2025.&nbsp;</p> https://archinect.com/news/article/150320584/wework-co-founder-adam-neumann-is-getting-into-the-housing-market-with-a-new-startup WeWork co-founder Adam Neumann is getting into the housing market with a new startup Josh Niland 2022-08-16T18:49:00-04:00 >2024-10-25T04:07:38-04:00 <img src="https://archinect.gumlet.io/uploads/f6/f6d82b766e4811da91c2cb60dad12bfd.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p><a href="https://archinect.com/firms/cover/9113346/wework" target="_blank">WeWork</a>&nbsp;co-founder Adam Neumann is once again making waves with the announcement of a new startup called Flow that&rsquo;s being funded by early Airbnb investors Andreessen Horowitz and is promoting itself as a real estate startup that aims to revolutionize the residential housing industry.</p> <p>The $350 million deal is said to be the largest in the Silicon Valley fund&rsquo;s 13-year history and brings Flow&rsquo;s initial evaluation to exactly $1 billion, a pittance when compared to the $47 billion figure WeWork received in 2019 thanks to SoftBank. The company&rsquo;s operation will officially begin next year, <a href="https://www.nytimes.com/2022/08/15/business/dealbook/adam-neumann-wework-startup.html" target="_blank">according</a> to the<em> New York Times</em>&rsquo; DealBook page, which first reported the news late Monday.</p> <figure><p><a href="https://archinect.gumlet.io/uploads/21/21a021190cd4524eab17cd3eebedd318.jpeg?auto=compress%2Cformat&amp;enlarge=true&amp;w=1028" target="_blank"><img src="https://archinect.gumlet.io/uploads/21/21a021190cd4524eab17cd3eebedd318.jpeg?auto=compress%2Cformat&amp;enlarge=true&amp;w=514"></a></p><figcaption>Related on Archinect: <a href="https://archinect.com/news/article/149962804/welive-isn-t-growing-fast-enough-to-keep-up-with-wework-s-16-billion-valuation" target="_blank">WeLive isn't growing fast enough to keep up with WeWork's $16 billion valuation</a></figcaption></figure><p>&ldquo;We love seeing repeat-founders build on past successes by growing from lessons learned," Marc Andreessen stated, referring to Neumann's <a href="https://archinect.com/news/article/150162373/wecollapse-wework-s-stock-market-flame-out-raises-more-concerns-for-commercial-real-estate" target="_blank">well-documented past</a>. &ldquo;The successes and lessons are plenty.&rdquo;<br></p> <p>Neumann has repo...</p> https://archinect.com/news/article/150266409/wework-plans-a-post-covid-return-hiring-more-architects-while-shifting-efforts-south WeWork plans a post-Covid return, hiring more architects while shifting efforts south Dante Furioso 2021-06-03T14:50:00-04:00 >2024-10-25T04:07:38-04:00 <img src="https://archinect.gumlet.io/uploads/5b/5ba86a8b4a5b904ee158cc1689d9dab9.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p>Before the <a href="https://archinect.com/news/tag/1534026/covid-19" target="_blank">Covid-19 pandemic</a> forced most office workers to indefinitely take their work home, the New York-based <a href="https://archinect.com/news/tag/571846/wework" target="_blank">WeWork</a> had a dramatic rise and fall. With a widely-reported, botched IPO in 2019, the office space company&rsquo;s ascent was emblematic of an unprecedented alliance between data, finance, real estate, and architecture. This volatile blend of ambition earned it the notorious reputation as a multibillion-dollar &ldquo;unicorn&rdquo; and <a href="https://www.theguardian.com/film/2021/mar/31/wework-hulu-documentary-adam-neumann" target="_blank">a Hulu special</a> documenting its &ldquo;shamanic&rdquo; leader, Adam Neuman. Overvalued at $47 billion, investors pulled out in 2019, and the company&rsquo;s rapid decline was compounded by white-collar workers&rsquo; widespread adoption of ad-hoc <a href="https://archinect.com/news/tag/1492832/remote-work" target="_blank">home offices</a>.</p> <p>Now, as people are increasingly&mdash;though unequally&mdash;vaccinated in the US, they are venturing out again. First to restaurants and bars, though the office may be next. WeWork is trying to lure them back to their desks. </p> <figure><p><a href="https://archinect.gumlet.io/uploads/af/af264673a9357271b15ce32dfa900b92.jpg?auto=compress%2Cformat&amp;enlarge=true&amp;w=1028" target="_blank"><img src="https://archinect.gumlet.io/uploads/af/af264673a9357271b15ce32dfa900b92.jpg?auto=compress%2Cformat&amp;enlarge=true&amp;w=514"></a></p><figcaption>Listen to our 2018 conversation with WeWork co-founder, Miguel McKelvey: <a href="https://archinect.com/news/article/150071121/from-an-all-women-led-collective-to-a-multi-billion-dollar-startup-miguel-mckelvey-shares-his-story" target="_blank">From an All-Women-Led Collective to a M...</a></figcaption></figure> https://archinect.com/news/article/150190363/wework-being-pressured-to-close-their-locations-as-more-members-test-positive-for-coronavirus WeWork being pressured to close their locations as more members test positive for coronavirus Justine Testado 2020-03-20T21:11:00-04:00 >2020-03-24T11:01:04-04:00 <img src="https://archinect.gumlet.io/uploads/cb/cbe771c9b9f833f91b7019edce4b7c13.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>Some members have signed a petition on the worker advocacy platform Coworker.org calling on WeWork to close its 848 locations worldwide. There are more than 300 locations in the United States. Jill Raney, a Washington-based WeWork member who launched the petition, says the company&rsquo;s decision to remain open during a public health crisis is &ldquo;unconscionable.&rdquo; They said it effectively forces businesses with small margins to choose between wasting money or putting themselves at risk.</p></em><br /><br /><p>As the number of <a href="https://archinect.com/news/tag/1506361/coronavirus" target="_blank">coronavirus</a> cases in the U.S. increases rapidly, WeWork has remained open even after some members have tested positive for the virus in at least seven of their New York locations as well as in LA and Chicago, according to The Washington Post. Other members have signed an online petition calling for the company to shut down all its locations worldwide. To add to that, some small business owners who use WeWork are angry that the company is refusing to refund them for spaces they can no longer use.</p> <p>Despite the growing outcry from their members, WeWork argues that they remain open because it is&nbsp;&ldquo;in the public interest and that the business is an essential service,&rdquo; and that they &ldquo;have&nbsp;members counting on [them] to remain open so they can run their companies,&rdquo; the article states.&nbsp;</p> https://archinect.com/news/article/150189427/amazon-drops-1-15-billion-for-wework-s-lord-taylor-building Amazon drops $1.15 billion for WeWork's Lord & Taylor Building Sean Joyner 2020-03-13T12:38:00-04:00 >2020-03-14T16:21:30-04:00 <img src="https://archinect.gumlet.io/uploads/3d/3dbf1a83c19d6fc0478f66d7f8b04208.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>Amazon is shelling out $1.15 billion in cash to acquire the former Lord &amp; Taylor flagship in Midtown Manhattan, The Post has learned. The Fifth Avenue landmark, which spans 11 stories and 660,000 square feet, will serve as Amazon&rsquo;s New York City headquarters, housing several thousand employees in the coming years.</p></em><br /><br /><p>According to&nbsp;<em>The Post,</em> the building&nbsp;had been initially been leased by WeWork to become the company's&rsquo;s own headquarters, but after a <a href="https://archinect.com/news/article/150162373/wecollapse-wework-s-stock-market-flame-out-raises-more-concerns-for-commercial-real-estate" target="_blank">series of scandals</a> last fall, the plans fell through. Amazon will pay of $750 million of the remaining construction loan WeWork had obtained to renovate the space and cough up another $350 million to cover the equity of the building's current owners,&nbsp;<em>The Post&nbsp;</em>reports.</p> <p>From a little over one year ago, <em><a href="https://archinect.com/news/article/150122187/wecompany-confirms-its-purchase-of-manhattan-s-lord-and-taylor-building" target="_blank">WeCompany confirms its purchase of Manhattan's Lord and Taylor building</a></em></p> https://archinect.com/news/article/150169254/wework-employees-embark-on-unionization-effort WeWork employees embark on unionization effort Antonio Pacheco 2019-11-09T00:01:00-05:00 >2019-11-11T13:41:23-05:00 <img src="https://archinect.gumlet.io/uploads/ba/bae0484fef5c6a154df72553fcd7b118.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>We want our time here to have meant something. We don&rsquo;t want to be defined by the scandals, the corruption, and the greed exhibited by the company&rsquo;s leadership. We want to leave behind a legacy that represents the true character and intentions of WeWork employees. We want those being laid off to be provided fair and reasonable separation terms commensurate with their contributions, including severance pay, continuation of company-paid health insurance and compensation for lost equity.</p></em><br /><br /><p>According to a recently-launched web page, WeWork employees are launching an organizational effort to secure workers rights as the company contemplates laying off thousands in the wake of its <a href="https://archinect.com/news/article/150162373/wecollapse-wework-s-stock-market-flame-out-raises-more-concerns-for-commercial-real-estate" target="_blank">high-profile collapse</a>.&nbsp;</p> <p>The group, which refers to itself as the WeWorkers Coalition, writes, "We are asking to be treated with humanity and dignity so we can continue living life while searching to make a living elsewhere. In consideration of recent news, we will also need clarity around the contracts our cleaning staff will be required to sign in order to keep their jobs, which are being outsourced to a third party. Those of us who have visas through WeWork need assistance and adequate time to find a new employer to sponsor our respective visas."</p> https://archinect.com/news/article/150164683/wework-empire-shifts-amid-corporate-tumult WeWork empire shifts amid corporate tumult Antonio Pacheco 2019-10-15T15:03:00-04:00 >2024-10-25T04:07:38-04:00 <img src="https://archinect.gumlet.io/uploads/d9/d9834610425fe71b47037c27ebcac1ff.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p>With <a href="https://archinect.com/firms/cover/9113346/wework" target="_blank">WeWork</a>'s corporate fortunes up in the air, the entity's umbrella organization, WeCompany, has begun to shake up its various elements and initiatives around the country.&nbsp;</p> <p>In Seattle, for example, a planned development with Martin Selig Real Estate for a 36-story co-working and co-living tower designed by <a href="https://archinect.com/perkinswill" target="_blank">Perkins and Will</a> has been dissolved, according to&nbsp;<em><a href="https://www.seattletimes.com/business/real-estate/beleaguered-wework-and-martin-selig-dissolve-deal-for-residential-project-in-belltown/?utm_content=buffer90810&amp;utm_medium=social&amp;utm_source=twitter&amp;utm_campaign=owned_buffer_tw_m" target="_blank">The Seattle Times</a>.&nbsp;</em>Under a 2017 agreement, Selig and WeWork had agreed to share construction and financing costs to create a 23-floor co-living-focused "vertical neighborhood" complex under the company's WeLive label, with the remaining floors set to be occupied by WeWork spaces. The deal was dissolved in early October, despite the fact that the tower is already under construction. The real estate company plans to finish the project and rent out spaces to other entities.&nbsp;</p> <p>WeWork,&nbsp;<em></em>according to a report published by CBRE discussed in&nbsp;<em>The Seattle Times</em>, rents nearly all of the 1.7 million square feet of flexible office space current...</p> https://archinect.com/news/article/150162373/wecollapse-wework-s-stock-market-flame-out-raises-more-concerns-for-commercial-real-estate WeCollapse? WeWork's stock market flame-out raises more concerns for commercial real estate Antonio Pacheco 2019-10-01T21:05:00-04:00 >2020-01-24T01:46:04-05:00 <img src="https://archinect.gumlet.io/uploads/e7/e741d219e985f0f2df4d012802366dd1.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>What happens to the New York and Chicago commercial-real-estate markets where WeWork was the biggest and the second-biggest tenants? [...] The reverberations here are going to be pretty dramatic. WeWork [...] went to zero in 30 days. That&rsquo;s more value destruction than the three biggest losers in the S&amp;P 500 lost all year.</p></em><br /><br /><p>An eye-opening interview with NYU Stern School of Business professor and vocal WeWork critic Scott Galloway in&nbsp;<em>New York Magazine</em> raises questions regarding the potential built environment ramifications of WeWork's spectacular collapse.&nbsp;</p> <p>The uncertainty comes as <a href="https://archinect.com/news/article/150160197/commercial-real-estate-is-in-trouble-around-the-world" target="_blank">commercial real estate property values drop</a> across many global cities and as <a href="https://archinect.com/news/article/150153849/architecture-billings-index-in-july-remains-essentially-flat" target="_blank">architecture firms see negative growth</a> in the number of commercial sector projects they are asked to take on.&nbsp;</p> https://archinect.com/news/article/150130562/who-is-michel-rojkind-and-what-does-this-new-hire-mean-for-wework Who is Michel Rojkind and what does this new hire mean for WeWork? Katherine Guimapang 2019-04-06T15:36:00-04:00 >2024-03-15T01:45:58-04:00 <img src="https://archinect.gumlet.io/uploads/90/90dcda0abc48a476e15f78bc669e2f06.jpeg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p><a href="https://archinect.com/news/tag/571846/wework" rel="nofollow" target="_blank">WeWork</a> has made great efforts as to integrating top design strategies and progressive data analytics to develop the most progressive buildings office spaces. Tapping into various elements of design, such as urban planning to design interiors, WeWork prides itself in its hand-selected team of designers, <a href="https://archinect.com/news/article/150124405/according-to-wework-buildings-equal-data" rel="nofollow" target="_blank">data</a> analysts, and of course architects. Last year WeWork announced starchitect <a href="https://archinect.com/news/tag/13709/bjarke-ingels-group" rel="nofollow" target="_blank">Bjarke Ingles</a> as chief architect for the multi-billion dollar company. This week the company announced the hiring of Mexican architect Michel Rojkind as their senior VP of Architecture. However, what does that mean exactly?</p> <figure><p><a href="https://archinect.gumlet.io/uploads/c2/c211a3a5060582f7c69aebb0f19314e2.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/c2/c211a3a5060582f7c69aebb0f19314e2.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Foro Boca. Image &copy; Rojkind Architectos</figcaption></figure><figure><p><a href="https://archinect.gumlet.io/uploads/e5/e5cf2375ffb8f8b7b603ae217f3fee67.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/e5/e5cf2375ffb8f8b7b603ae217f3fee67.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Tori Tori Altavista - Restaurant. Image by Jaime Navarro Rojkind</figcaption></figure><figure><p><a href="https://archinect.gumlet.io/uploads/70/707cae433f7e31579af629a1952efe24.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/70/707cae433f7e31579af629a1952efe24.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>R432: mixed-use tower in downtown Mexico City. Image &copy; Rojkind Architectos</figcaption></figure><p>Aside from now working with one of the largest office leasing companies in the world, Rojkind's professional career is comprised of high leveled projects and an array of design experience. After founding his firm ...</p> https://archinect.com/news/article/150127200/coworking-real-estate-empire-we-company-announces-smart-cities-initiative Coworking real-estate empire We Company announces smart cities initiative Mackenzie Goldberg 2019-03-19T17:17:00-04:00 >2024-03-15T01:45:58-04:00 <img src="https://archinect.gumlet.io/uploads/58/5854b238193def1be47e1e427f1e4ba2.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p>We Company, formerly known as <a href="https://archinect.com/firms/cover/9113346/wework" rel="nofollow" target="_blank">WeWork</a>, has announced plans to launch a smart cities program. Since its founding in 2010, the real-estate empire has collected an enormous amount of data on how people work and live, using that information&nbsp;to shape its more than 600 spaces. As the <a href="https://archinect.com/news/article/150114155/wework-is-making-moves-should-other-co-working-spaces-be-worried" rel="nofollow" target="_blank">global coworking company expands</a> its brand to tackle residential real estate (WeLive) and education (<a href="https://archinect.com/news/article/150093521/big-and-wework-complete-first-wegrow-elementary-school-in-nyc" rel="nofollow" target="_blank">WeGrow</a>), it is hoping to use its aggregated information to reenvision the future of our cities.</p> <p>To do so, We Company has hired Di-Ann Eisnor, the former <a href="https://archinect.com/news/tag/606382/waze" rel="nofollow" target="_blank">Waze</a> executive, and <a href="https://archinect.com/dror" rel="nofollow" target="_blank">Dror Benshetrit</a>, the designer and futurist whose eponymous studio is known for their pioneering object and installation designs. Together, the two (alongside engineers, architects, data scientists, biologists, and economists) will use their innovation of the tech sector to address problems of urbanization and climate change.</p> <figure><p><a href="https://archinect.gumlet.io/uploads/a1/a12902d27a3cee83969b7b270c265587.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/a1/a12902d27a3cee83969b7b270c265587.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>WeGrow NYC, We Company's first elementary school; designed by Bjarke Ingels Group. Photo by Dave Burk.</figcaption></figure><p>In recent years,...</p> https://archinect.com/news/article/150124405/according-to-wework-buildings-equal-data According to WeWork "Buildings equal Data" Katherine Guimapang 2019-03-02T13:08:00-05:00 >2024-03-15T01:45:58-04:00 <img src="https://archinect.gumlet.io/uploads/b6/b65c552a4a349a2db1bd379deab0944a.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>There are T-shirts floating around WeWork&rsquo;s New York City headquarters that say &ldquo;Buildings equal data.&rdquo; The nano manifesto hints at a conviction that architecture should be shaped by a methodical study of how people utilize spaces instead of unique aesthetic signatures. More than that, correlating digital information with physical structures is good business&mdash;it has quickly become a core strategy for the eight-year-old, $47 billion company racing to expand its footprint globally.</p></em><br /><br /><p>Architects today are very familiar with <a href="https://archinect.com/news/tag/17638/data" rel="nofollow" target="_blank">data</a> and its influence over design, construction, and feasibility. However, what else can data teach us? When you're a massive billion dollar company like <a href="https://archinect.com/news/tag/571846/wework" rel="nofollow" target="_blank">WeWork</a>, opportunities for turning data into teachable tools coincides well with the company's progressive ethos.&nbsp;</p> <figure><p><a href="https://archinect.gumlet.io/uploads/95/954fd20d09fe88467d60aa9ae54ecb9d.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/95/954fd20d09fe88467d60aa9ae54ecb9d.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>No 1 Poultry in London - WeWork interior; Image &copy; WeWork</figcaption></figure><p>Say what you will about the company, regardless of your views their intentions of transforming the tools and perspectives of real estate, architecture, and design is reflective of the decisions they've made thus far. For WeWork, data isn't just a tool but an asset to the company's overall growth and success. "It&rsquo;s hard to overstate how essential data is to WeWork&rsquo;s operations. Specifically, architectural data. Nearly four years ago, the company underscored this dependency when it acquired Case, a <a href="https://archinect.com/news/tag/62942/bim" rel="nofollow" target="_blank">BIM</a> consultancy whose expertise WeWork relied on even in its early years (it was founded in 2010). With David Fano, Case&rsquo;s co-foun...</p> https://archinect.com/news/article/150122187/wecompany-confirms-its-purchase-of-manhattan-s-lord-and-taylor-building WeCompany confirms its purchase of Manhattan's Lord and Taylor building Katherine Guimapang 2019-02-15T18:21:00-05:00 >2024-10-25T04:07:38-04:00 <img src="https://archinect.gumlet.io/uploads/5c/5cf53664d2aa194b733e553c806e704e.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>The completion of this transaction, which will see us bring new life to the iconic Lord &amp; Taylor building, reflects the evolution of the We Company, the diversification of our real estate strategy and the company&rsquo;s ongoing transition from an occupier to an operator of space</p></em><br /><br /><p><a href="https://archinect.com/news/article/150114155/wework-is-making-moves-should-other-co-working-spaces-be-worried" rel="nofollow" target="_blank">WeCompany</a>, formerly known as <a href="https://archinect.com/news/tag/571846/wework" rel="nofollow" target="_blank">WeWork</a> made significant company transitions earlier this year. Now venturing beyond the shared workspace and leasing office business model, the WeCompany closed and confirmed its purchase of the historic <a href="https://archinect.com/news/article/150063402/bjarke-ingels-joins-wework-as-chief-architect-to-start-developing-neighborhood-scale-campuses" rel="nofollow" target="_blank">Lord and Taylor</a> flagship in January. News of the building purchase was announced in October 2017. Since then, the global enterprise has made moves that have public watching.&nbsp;</p> <p>Built by Starrett and Van Vleck Architects in 1914, the 11-floor building is considered one of New York's iconic structures. The firm is heavily responsible for <a href="https://archinect.com/news/tag/160/new-york" rel="nofollow" target="_blank">New York</a>&nbsp;department store design during the early 20th century. The Lord and Taylor Building was the firm's first major department store project and in 2007 was cited as a historic New York City landmark. Upon the building's purchase, the WeCompany stated on their company blog that the renovation will "build new life while honoring the past."</p> <figure><p><a href="https://archinect.gumlet.io/uploads/b6/b6167a9cd515f26993758a624eae4dc5.jpg?auto=compress%2Cformat&amp;enlarge=true&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/b6/b6167a9cd515f26993758a624eae4dc5.jpg?auto=compress%2Cformat&amp;enlarge=true&amp;w=514"></a></p><figcaption>Lord and Taylor building historic photo, courtesy of WeCompany</figcaption></figure><p>Earlier this month th...</p> https://archinect.com/news/article/150114155/wework-is-making-moves-should-other-co-working-spaces-be-worried WeWork is making moves, should other co-working spaces be worried? Katherine Guimapang 2019-01-11T15:12:00-05:00 >2024-03-15T01:45:58-04:00 <img src="https://archinect.gumlet.io/uploads/49/49a81804fd26f702ace9ad4e7a24dcbf.png?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>The We Company will be comprised of three main business units: WeWork, its main office business; WeLive, a fledgling residential unit; and WeGrow, a still-evolving business that currently includes an elementary school and a coding academy. Although the company could not provide specifics, it says plans are in the works to build out its residential and education units this year. Also</p></em><br /><br /><p>Early this week,&nbsp;<a href="https://archinect.com/news/tag/571846/wework" rel="nofollow" target="_blank">WeWork</a>'s CEO Adam Neumann revealed significant changes to the infamous co-working space that took the globe by storm when it opened their first workspace in 2010. Quickly becoming one of "the fastest-growing lessee of new spaces in America," by 2014, the company seemed unstoppable. Since then, numerous other <a href="https://archinect.com/news/tag/744709/coworking" rel="nofollow" target="_blank">co-working</a>/<a href="https://archinect.com/news/tag/8230/office-space" rel="nofollow" target="_blank">office space</a> companies appeared on the scene. However, many alternative companies could not compete with WeWork's services as well as their overall design aesthetic.&nbsp;</p> <figure><p><a href="https://archinect.gumlet.io/uploads/59/59ed6b1fc83c2c9d22f39828d3ff4000.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/59/59ed6b1fc83c2c9d22f39828d3ff4000.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Draw made by WeWork CEO Adam Neumann and co-founder Miguel McKelvey during a brainstorm session in 2009 Image &copy; WeWork</figcaption></figure><figure><p><a href="https://archinect.gumlet.io/uploads/b2/b24afd2314d2823b4bf02e177706e6de.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/b2/b24afd2314d2823b4bf02e177706e6de.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Singapore Beach Centre - WeWork's 200th Location Image &copy; WeWork</figcaption></figure><figure><p><a href="https://archinect.gumlet.io/uploads/a2/a208ade9d1034ce047c3be8cd2284aee.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/a2/a208ade9d1034ce047c3be8cd2284aee.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Paddington Location in London Image &copy; WeWork</figcaption></figure><p>2019 will be a big year for the company turning 9. Neumann will announce at the WeWork Global Summit that the company will no longer be called WeWork, but The We Company. In a recent interview, Neumann expressed the company's transition from renting desks and office ...</p> https://archinect.com/news/article/150093521/big-and-wework-complete-first-wegrow-elementary-school-in-nyc BIG and WeWork complete first WeGrow elementary school in NYC Justine Testado 2018-10-30T19:48:00-04:00 >2024-03-15T01:45:58-04:00 <img src="https://archinect.gumlet.io/uploads/fc/fc860d17a580d5c4c252827ad1e5a06f.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p>New York City now has its first WeGrow school. <a href="https://archinect.com/firms/cover/39902/big-bjarke-ingels-group" rel="nofollow" target="_blank">Bjarke Ingels Group</a> and <a href="https://archinect.com/firms/cover/9113346/wework" rel="nofollow" target="_blank">WeWork</a> <a href="https://archinect.com/news/article/150036736/bjarke-ingels-to-design-wework-s-new-entrepreneurial-elementary-school" rel="nofollow" target="_blank">teamed up</a> to design the 10,000 square-foot private elementary school, which is located in WeWork's Chelsea headquarters. The school will teach kids ages 3 to 9 a more &ldquo;conscious approach to education,&rdquo; BIG says. Envisioned as an open, nature-themed learning environment, WeGrow is &ldquo;playful and transparent, yet home-like and structured&rdquo;.&nbsp;</p> <p>The school comprises of four classrooms, flexible workshops, community space, a multi-purpose studio, art studio, music room, and other nature-themed playscapes that encourage interactive learning, creativity, and collaboration. Carefully designed furniture, ambient lighting, and other details help create an optimal learning space.</p> <figure><p><a href="https://archinect.gumlet.io/uploads/f1/f145f73c4e8302976178d8694cdb88a0.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/f1/f145f73c4e8302976178d8694cdb88a0.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>Photo: Laurian Ghinitoiu.</figcaption></figure><p>Acoustic felt &ldquo;clouds&rdquo; on the ceiling were designed to resemble various patterns found in nature &mdash; like fingerprints, coral, and the moon &mdash; and are illuminated by Ketra bulbs that change color and intensity according to t...</p> https://archinect.com/news/article/150084381/wework-may-become-nyc-s-largest-office-space-renter-with-1-world-trade-center-deal WeWork may become NYC's largest office space renter with 1 World Trade Center deal Hope Daley 2018-09-04T13:05:00-04:00 >2018-09-04T15:16:07-04:00 <img src="https://archinect.gumlet.io/uploads/ca/ca772f50c4a86d8a5dc89cdadb637645.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>The company is negotiating a lease in 1 World Trade Center to take over about 200,000 square feet in the building, a source close to the deal told CNNMoney. WeWork recently became the second-largest renter of office space in the borough, according to a Cushman &amp; Wakefield report earlier this month. WeWork trails just about 74,000 square feet behind JPMorgan's New York tenancy. If the deal goes through, WeWork would surpass the bank.</p></em><br /><br /><p>According to&nbsp;<a href="http://www.crainsnewyork.com/article/20180829/REAL_ESTATE/180829871/wework-close-to-large-lease-at-1-world-trade-center" rel="nofollow" target="_blank">Crain's New York Business</a>,&nbsp;<a href="https://archinect.com/firms/cover/9113346/wework" rel="nofollow" target="_blank">WeWork</a> is close to finalizing the lease with&nbsp;1 World Trade Center. The co-working space company has grown tremendously in the past 8 years it has been operating with offices now in over 20 countries around the world.&nbsp;</p> <p>For more backstory on WeWork's success, check out our <a href="https://archinect.com/news/article/150071121/from-an-all-women-led-collective-to-a-multi-billion-dollar-startup-miguel-mckelvey-shares-his-story" rel="nofollow" target="_blank">conversation with co-founder&nbsp;Miguel McKelvey</a>, recorded live from New York, during this year's AIA National Convention.&nbsp;</p> <p><br></p> https://archinect.com/news/article/150071121/from-an-all-women-led-collective-to-a-multi-billion-dollar-startup-miguel-mckelvey-shares-his-story From an All-Women-Led Collective to a Multi-Billion Dollar Startup; Miguel McKelvey Shares His Story Paul Petrunia 2018-06-28T18:08:00-04:00 >2024-03-15T01:45:58-04:00 <img src="https://archinect.gumlet.io/uploads/b4/b4dcd59898e06b331ff3182b6871177f.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p>Last Wednesday, on the eve of the AIA National Convention, I had the pleasure of talking with Miguel McKelvey, co-founder of <a href="https://archinect.com/news/tag/571846/wework" rel="nofollow" target="_blank">WeWork</a>.&nbsp;</p> <figure><p><a href="https://archinect.gumlet.io/uploads/81/81088ad75b2b764e79c7958351a2ff9d.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/81/81088ad75b2b764e79c7958351a2ff9d.jpg?auto=compress%2Cformat&amp;w=514"></a></p></figure><p>The conversation was held in Midtown Manhattan, in the Project 6 by AF showroom to an invited crowd of 75 architects. The event was co-hosted by <a href="http://afnewyork.com/" rel="nofollow" target="_blank">Project 6 by AF</a>&nbsp;and&nbsp;<a href="https://designerpages.com" rel="nofollow" target="_blank">Designer Pages</a>,&nbsp;and sponsored by <a href="https://www.graff-faucets.com/en/" rel="nofollow" target="_blank">Graff</a>, <a href="http://www.julien.ca/" rel="nofollow" target="_blank">Julien</a>, <a href="https://www.geberitnorthamerica.com/en/" rel="nofollow" target="_blank">Geberit</a>, <a href="https://www.kaldewei.us/" rel="nofollow" target="_blank">Kaldewei</a>&nbsp;and <a href="https://wetstyle.ca/" rel="nofollow" target="_blank">Wetstyle</a>.&nbsp;</p> <figure><p><a href="https://archinect.gumlet.io/uploads/59/59100d9312d48f35371800690d6a3861.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/59/59100d9312d48f35371800690d6a3861.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>WeWork Paddington, London, photo courtesy of WeWork</figcaption></figure><p>For those of you unfamiliar, WeWork is a co-working startup currently valued at somewhere between $20B and $35B, with almost 400 locations scattered around the world in 69 cities. While WeWork wasn&rsquo;t the first company to enter the <a href="https://archinect.com/features/article/87376636/aftershock-2-serendipity-machines-and-the-future-of-workplace-design" rel="nofollow" target="_blank">coworking</a> space, they approached it in a very different way, focusing on creating physical environments that connected&nbsp;with workers and business owners, while crafting a culture of super-dedicated members.&nbsp;</p> <figure><p><a href="https://archinect.gumlet.io/uploads/82/82c4b142cc5c369aa722e6586849bb16.jpg?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/82/82c4b142cc5c369aa722e6586849bb16.jpg?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>WeWork Northern Liberties, Philadelphia, photo courtesy of WeWork</figcaption></figure><figure><p><a href="https://archinect.gumlet.io/uploads/83/83fe038b33a077e5e0acad93e052dbf0.JPG?auto=compress%2Cformat&amp;w=1028" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/83/83fe038b33a077e5e0acad93e052dbf0.JPG?auto=compress%2Cformat&amp;w=514"></a></p><figcaption>WeWork Montes Urales, Mexico City, photo courtesy of WeWork</figcaption></figure><p>Migu...</p> https://archinect.com/news/article/150063402/bjarke-ingels-joins-wework-as-chief-architect-to-start-developing-neighborhood-scale-campuses Bjarke Ingels Joins WeWork as Chief Architect, to Start Developing Neighborhood-Scale "Campuses" Francis Gössage 2018-05-08T11:12:00-04:00 >2024-01-23T19:16:08-05:00 <img src="https://archinect.gumlet.io/uploads/lw/lw39764empipikq3.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>Neumann says that in 2018, that will mean WeWork will build more buildings, some that reimagine what&rsquo;s already there, like the Lord &amp; Taylor project, and others that WeWork and Ingels will design in their entirety. Then, in 2019, the company plans to start creating &ldquo;campuses&rdquo;&ndash;essentially, WeWork on a neighborhood scale. That could look like a several-block radius where there&rsquo;s a coworking space, coliving residence, and a school all clustered together, all operating under the WeWork umbrella.</p></em><br /><br /><p>BIG has shared with Archinect the following press release:</p> <p><strong>WeWork announces Bjarke Ingels as Chief Architect to advise and develop the firm&rsquo;s design vision and language for buildings, campuses and neighborhoods globally. Bjarke will maintain his role as Founding Partner and Creative Director at the New York, London and Copenhagen-based architecture firm, BIG-Bjarke Ingels Group.</strong>&nbsp;</p> <p><em>&ldquo;WeWork was founded at the exact same time as when I had arrived to New York. In that short amount of time &ndash; the blink of an eye at the time scale of architecture &ndash; they have accomplished incredible things and they are committed to continuing their trajectory to places we can only imagine. WeWork&rsquo;s commitment to community and culturally-driven development is perfectly aligned with our active, social and environmental agendas.&nbsp;As WeWork takes on larger and more holistic urban and architectural challenges, I am very excited to contribute with my insights and ideas to extend their community-oriented vision to ...</em></p> https://archinect.com/news/article/150038693/wework-is-taking-over-london-s-postmodern-icon-one-poultry WeWork is taking over London's postmodern icon One Poultry Mackenzie Goldberg 2017-11-21T19:20:00-05:00 >2018-01-30T06:16:04-05:00 <img src="https://archinect.gumlet.io/uploads/26/26saozft30cz5ysw.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>This year, the group has expanded aggressively into the City of London, snapping up floor space usually reserved for large corporates over the year to date, including large offices in Moorgate &mdash; its largest site globally &mdash; and at One Poultry, a Grade II listed building directly opposite the Bank of England.</p></em><br /><br /><p>The start up <a href="https://archinect.com/firms/cover/9113346/wework" rel="nofollow" target="_blank">WeWork</a> has acquired <a href="https://archinect.com/news/tag/912070/one-poultry" rel="nofollow" target="_blank">One Poultry</a>, the Grade II post-modern icon designed by James Stirling and completed in 1998. After a <a href="https://archinect.com/news/article/131877038/postmodern-no-1-poultry-divides-architects-in-debate-over-recent-heritage" rel="nofollow" target="_blank">heavily contested designation</a>, the building is currently in the process of undergoing an extensive refurbishment headed by Architects BuckleyGreyYeomen and expected for completion in spring 2018.&nbsp;</p> <p>WeWork will replace the former tenants, the British insurance company Aviva, who moved out of the building earlier this year. According to the&nbsp;<em>Financial Times</em>, the co-working giant is seeking to capitalize on Brexit uncertainties by offering flexible office space in London to anxious global banks. The company has been aggressively expanding into the city, nearly doubling its city footprint in the past year, and is in talks to buy a 12-building campus near Liverpool Street railway station.&nbsp;</p> <p>&nbsp;</p> https://archinect.com/news/article/150036898/what-residents-have-to-say-about-living-in-wework-s-housing-community-on-wall-street What residents have to say about living in WeWork's housing community on Wall Street Justine Testado 2017-11-07T15:56:00-05:00 >2017-11-07T15:56:10-05:00 <img src="https://archinect.gumlet.io/uploads/8l/8li5ftnaclmtnjjd.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>&ldquo;It&rsquo;s a great place to be if you&rsquo;re just moving to the city, and you want to meet people, or you need a place for a couple months before you find your real apartment.&rdquo;</p></em><br /><br /><p>Bloomberg writer Ellen Huet books a room in WeWork's communal housing project, WeLive, on Wall Street in New York. Huet talks with both current and former WeLive residents, who&nbsp;share different opinions about living in the building. In regards to WeLive's <a href="https://archinect.com/news/article/149962804/welive-isn-t-growing-fast-enough-to-keep-up-with-wework-s-16-billion-valuation" rel="nofollow" target="_blank">slow growth</a>, the article also brings up other business options that WeWork is currently exploring, including plans to open a 36-story tower in Seattle by 2020. WeWork also recently <a href="https://archinect.com/news/article/150036736/bjarke-ingels-to-design-wework-s-new-entrepreneurial-elementary-school" rel="nofollow" target="_blank">appointed Bjarke Ingels</a> to design their new WeGrow private elementary school.</p> <p>Also, Archinect previously wrote about privacy in co-living. You can read the feature here:&nbsp;<a href="https://archinect.com/features/article/149948880/strange-bedfellows-exploring-shades-of-privacy-in-co-living" rel="nofollow" target="_blank">Strange bedfellows: exploring shades of privacy in co-living</a></p> https://archinect.com/news/article/150036736/bjarke-ingels-to-design-wework-s-new-entrepreneurial-elementary-school Bjarke Ingels to design WeWork’s new entrepreneurial elementary school Dana Schulz 2017-11-06T13:31:00-05:00 >2024-03-15T01:45:58-04:00 <img src="https://archinect.gumlet.io/uploads/v7/v7oumgb8ks87xsoc.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>WeWork has plans to launch a private elementary school for &ldquo;conscious entrepreneurship&rdquo; called WeGrow in a New York City location next year. The company has even tapped Danish architect du jour Bjarke Ingels to design the first school, dubbed &ldquo;WeGrow," which will likely be within their new Fifth Avenue headquarters. &ldquo;In my book, there&rsquo;s no reason why children in elementary schools can&rsquo;t be launching their own businesses,&rdquo; said co-founder Rebekah Neumann.</p></em><br /><br /><figure><img src="https://archinect.gumlet.io/uploads/ba/ba5kuhpdiu210trb.jpg"><figcaption>Rendering by Bjarke Ingels Group (BIG). Source: WeWork</figcaption></figure><figure><img src="https://archinect.gumlet.io/uploads/c3/c3bn7ykhdsfmbajp.jpg"><figcaption>Rendering by Bjarke Ingels Group (BIG). Source: WeWork</figcaption></figure><figure><img src="https://archinect.gumlet.io/uploads/na/na51uc9swdu4eb2f.jpg"><figcaption>Rendering by Bjarke Ingels Group (BIG). Source: WeWork</figcaption></figure> https://archinect.com/news/article/149962804/welive-isn-t-growing-fast-enough-to-keep-up-with-wework-s-16-billion-valuation WeLive isn't growing fast enough to keep up with WeWork's $16 billion valuation Amelia Taylor-Hochberg 2016-08-11T17:27:00-04:00 >2018-01-30T06:16:04-05:00 <img src="https://archinect.gumlet.io/uploads/42/42dcd37eac29b47418edbd79a2507703?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>Perhaps the most notable business line to suffer from slow growth is WeLive, which offers young renters fully furnished apartments and a communal atmosphere. The two inaugural locations opened in lower Manhattan and Crystal City, Va., earlier this year in converted office buildings. But the costs of converting those spaces proved high given the extensive remodeling needed... Now the company is aiming to put WeLive locations mainly in newly built developments that can be custom designed.</p></em><br /><br /><p>More news from under the WeWork umbrella:</p><ul><li><a href="http://archinect.com/features/article/149948880/strange-bedfellows-exploring-shades-of-privacy-in-co-living" rel="nofollow" target="_blank">Strange bedfellows: exploring shades of privacy in co-living</a></li><li><a title="The kibbutz, rebranded for Silicon Valley" href="http://archinect.com/news/article/149944287/the-kibbutz-rebranded-for-silicon-valley" rel="nofollow" target="_blank">The kibbutz, rebranded for Silicon Valley</a></li><li><a title="Chief creative officer Miguel McKelvey on WeLive's &quot;relatively neutral&quot; interior design" href="http://archinect.com/news/article/149938308/chief-creative-officer-miguel-mckelvey-on-welive-s-relatively-neutral-interior-design" rel="nofollow" target="_blank">Chief creative officer Miguel McKelvey on WeLive's "relatively neutral" interior design</a></li><li><a title="Can WeWork re-engineer the spatial dynamics of society?" href="http://archinect.com/news/article/149935208/can-wework-re-engineer-the-spatial-dynamics-of-society" rel="nofollow" target="_blank">Can WeWork re-engineer the spatial dynamics of society?</a></li><li><a title="WeLive, WeWork's co-living venture, opens for beta testing in New York City" href="http://archinect.com/news/article/145729323/welive-wework-s-co-living-venture-opens-for-beta-testing-in-new-york-city" rel="nofollow" target="_blank">WeLive, WeWork's co-living venture, opens for beta testing in New York City</a></li><li><a title="ARExA to renovate WeWork's first co-living project on Wall Street" href="http://archinect.com/news/article/139473784/arexa-to-renovate-wework-s-first-co-living-project-on-wall-street" rel="nofollow" target="_blank">ARExA to renovate WeWork's first co-living project on Wall Street</a></li></ul> https://archinect.com/news/article/149944287/the-kibbutz-rebranded-for-silicon-valley The kibbutz, rebranded for Silicon Valley Amelia Taylor-Hochberg 2016-05-09T17:37:00-04:00 >2016-05-19T21:52:30-04:00 <img src="https://archinect.gumlet.io/uploads/5t/5tb1djm0i9kueqks.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>[Common is] a version of communal living that suggests tech utopia in its ultimate test case: with Nest thermometers, and Casper mattresses, and a house Slack channel, so you can see whether anyone else wants Seamless without having to yell down the hall. [...] As a business proposition, rental real estate wouldn&rsquo;t necessarily seem like it has much to do with tech; but as a mentality, co-living is pure Silicon Valley &mdash; it is life rendered frictionless.</p></em><br /><br /><p>Related on Archinect:</p><ul><li><a title="WeWork + Airbnb = PodShare? New live-work space emerges in Los Angeles" href="http://archinect.com/news/article/149937012/wework-airbnb-podshare-new-live-work-space-emerges-in-los-angeles" rel="nofollow" target="_blank">WeWork + Airbnb = PodShare? New live-work space emerges in Los Angeles</a></li><li><a title="Can WeWork re-engineer the spatial dynamics of society?" href="http://archinect.com/news/article/149935208/can-wework-re-engineer-the-spatial-dynamics-of-society" rel="nofollow" target="_blank">Can WeWork re-engineer the spatial dynamics of society?</a></li><li><a href="http://archinect.com/features/article/149943348/previewing-the-2016-venice-biennale-the-british-pavilion-s-home-economics" rel="nofollow" target="_blank">Previewing the 2016 Venice Biennale: the British Pavilion's "Home Economics"</a></li><li><a href="http://archinect.com/news/article/149937655/box-sweet-box-sf-man-lives-in-wooden-pod-in-friends-apartment-for-400-month" rel="nofollow" target="_blank">Box sweet box: SF man lives in wooden "pod" in friends' apartment for $400/month</a></li></ul> https://archinect.com/news/article/149938308/chief-creative-officer-miguel-mckelvey-on-welive-s-relatively-neutral-interior-design Chief creative officer Miguel McKelvey on WeLive's "relatively neutral" interior design Amelia Taylor-Hochberg 2016-04-04T19:20:00-04:00 >2016-04-09T22:17:26-04:00 <img src="https://archinect.gumlet.io/uploads/f3/f33cg9vqud024vbi.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>"We wanted the unit itself to be relatively neutral but warm and inviting," [McKelvey] says. "If you look at WeWork as a brand I think the way we design has a more masculine vibe. It&rsquo;s a little bit heavier and there are some strong contrasts. In the units in WeLive we wanted to have more lightness. Not necessarily masculine and feminine, but just a variable so someone can come in and easily make minimal [changes] and have an impact."</p></em><br /><br /><p>Check out our <a href="http://archinect.com/features/article/92243101/working-out-of-the-box-miguel-mckelvey" rel="nofollow" target="_blank">Working Out of the Box interview with Miguel McKelvey</a> for more on WeWork's design process.</p><p>More news from WeWork and WeLive:</p><ul><li><a title="Can WeWork re-engineer the spatial dynamics of society?" href="http://archinect.com/news/article/149935208/can-wework-re-engineer-the-spatial-dynamics-of-society" rel="nofollow" target="_blank">Can WeWork re-engineer the spatial dynamics of society?</a></li><li><a title="WeLive, WeWork's co-living venture, opens for beta testing in New York City" href="http://archinect.com/news/article/145729323/welive-wework-s-co-living-venture-opens-for-beta-testing-in-new-york-city" rel="nofollow" target="_blank">WeLive, WeWork's co-living venture, opens for beta testing in New York City</a></li><li><a title="More details emerge about WeWork's residential endeavor WeLive" href="http://archinect.com/news/article/135806594/more-details-emerge-about-wework-s-residential-endeavor-welive" rel="nofollow" target="_blank">More details emerge about WeWork's residential endeavor WeLive</a></li><li><a title="WeWork moves into residential development with WeLive" href="http://archinect.com/news/article/123197014/wework-moves-into-residential-development-with-welive" rel="nofollow" target="_blank">WeWork moves into residential development with WeLive</a></li></ul> https://archinect.com/news/article/149935208/can-wework-re-engineer-the-spatial-dynamics-of-society Can WeWork re-engineer the spatial dynamics of society? Julia Ingalls 2016-03-17T12:57:00-04:00 >2024-01-23T19:16:08-05:00 <img src="https://archinect.gumlet.io/uploads/4t/4tm92pwzw37u14o8.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>WeWork&rsquo;s inspirational mottoes&mdash;"Do what you love," "Thank God it&rsquo;s Monday," among many others&mdash;its evangelical faithful, and gatherings like the summit all have religious echoes..."Start imagining it a bit bigger," Neumann says about WeLive, stoking his idyllic view, "an entire building. And then instead of having just one building doing it, five buildings doing it. Then you&rsquo;ll be able to imagine what a WeNeighborhood or a WeStreet would be."</p></em><br /><br /><p>This in-depth profile of WeWork founder and (pro-capitalist) visionary Adam Neumann is worth the read. Whether you like to freestyle your work and life or prefer the centuries-old model of deeded quiet, WeWork (and now, WeLive) is making a previously unsustainable model profitable. Is Neumann just creating a fashionable new real estate bubble, or is he reengineering the way society operates?</p> <p>To catch you up:</p> <ul><li><a href="http://archinect.com/features/article/92243101/working-out-of-the-box-miguel-mckelvey" rel="nofollow" target="_blank">Working out of the Box: Miguel McKelvey</a></li><li><a href="http://archinect.com/news/article/145729323/welive-wework-s-co-living-venture-opens-for-beta-testing-in-new-york-city" rel="nofollow" target="_blank">WeLive, WeWork's co-living venture, opens for beta testing in New York City</a></li><li><a href="http://archinect.com/news/article/139473784/arexa-to-renovate-wework-s-first-co-living-project-on-wall-street" rel="nofollow" target="_blank">ARExA to renovate WeWork's first co-living project on Wall Street</a></li><li><a href="http://archinect.com/news/article/135806594/more-details-emerge-about-wework-s-residential-endeavor-welive" rel="nofollow" target="_blank">More details emerge about WeWork's residential endeavor WeLive</a></li><li><a href="http://archinect.com/news/article/133566870/the-design-never-stops-wework-acquires-case" rel="nofollow" target="_blank">The design never stops: WeWork acquires Case</a></li></ul> https://archinect.com/news/article/145729323/welive-wework-s-co-living-venture-opens-for-beta-testing-in-new-york-city WeLive, WeWork's co-living venture, opens for beta testing in New York City Amelia Taylor-Hochberg 2016-01-14T12:58:00-05:00 >2017-12-18T12:01:04-05:00 <img src="https://archinect.gumlet.io/uploads/87/877235b35aa3c0602e1f19a9d9a088b4?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>About 80 WeWork members and employees have moved into 45 apartment units in WeWork&rsquo;s first "coliving" space at 110 Wall Street, which will eventually house about 600 people on 20 floors, WeWork confirmed. Along with living accommodations, residents will have access to community events like fitness classes and potluck dinners, services like cleaning and laundry, and a digital social network&mdash;all of which can be coordinated through a mobile app.</p></em><br /><br /><p>More from WeWork and WeLive:</p><ul><li><a title="ARExA to renovate WeWork's first co-living project on Wall Street" href="http://archinect.com/news/article/139473784/arexa-to-renovate-wework-s-first-co-living-project-on-wall-street" rel="nofollow" target="_blank">ARExA to renovate WeWork's first co-living project on Wall Street</a></li><li><a title="More details emerge about WeWork's residential endeavor WeLive" href="http://archinect.com/news/article/135806594/more-details-emerge-about-wework-s-residential-endeavor-welive" rel="nofollow" target="_blank">More details emerge about WeWork's residential endeavor WeLive</a></li><li><a title="The design never stops: WeWork acquires Case" href="http://archinect.com/news/article/133566870/the-design-never-stops-wework-acquires-case" rel="nofollow" target="_blank">The design never stops: WeWork acquires Case</a></li><li><a title="WeWork moves into residential development with WeLive" href="http://archinect.com/news/article/123197014/wework-moves-into-residential-development-with-welive" rel="nofollow" target="_blank">WeWork moves into residential development with WeLive</a></li><li><p><a href="http://archinect.com/features/article/92243101/working-out-of-the-box-miguel-mckelvey" rel="nofollow" target="_blank">Working out of the Box: Miguel McKelvey</a></p></li></ul> https://archinect.com/news/article/139473784/arexa-to-renovate-wework-s-first-co-living-project-on-wall-street ARExA to renovate WeWork's first co-living project on Wall Street Amelia Taylor-Hochberg 2015-10-21T18:28:00-04:00 >2022-11-14T17:06:51-05:00 <img src="https://archinect.gumlet.io/uploads/67/6709bizl830hs0er.png?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>The tower, owned by Rudin Management, currently has 260,000 square feet of floorspace that counts towards zoning, and of that, 133,000 square feet will become residential, resulting in 205 new apartments. The remaining 127,000 square feet will stay commercial. [...] 110 Wall Street will be WeWork&rsquo;s first foray into residential development [...] The inclusion of Class B dwelling units, which denote transient housing, likely signals living options will range from communal to private.</p></em><br /><br /><p>According to <a href="http://ny.curbed.com/archives/2015/10/19/startup_wework_planning_205unit_wall_street_tower.php" rel="nofollow" target="_blank">CurbedNY</a>, ARExA will head design on the renovation of WeWork's first residential project under its co-living offshoot, WeLive. Completion date is currently slated for March 2017.</p> <p>WeWork is also hiring multiple positions in New York at this very moment. Check out their listings here:</p> <p><a href="http://archinect.com/firms/jobs/9113346/wework" rel="nofollow" target="_blank">WeWork</a>: openings for <a href="http://archinect.com/jobs/entry/138345304/interior-design-lead" rel="nofollow" target="_blank">Interior Design Lead</a>; <a href="http://archinect.com/jobs/entry/138344502/project-architect" rel="nofollow" target="_blank">Project Architect</a>; <a href="http://archinect.com/jobs/entry/138262553/building-information-specialist" rel="nofollow" target="_blank">Building Information Specialist</a></p> <p><em>UPDATE: an earlier version of this article incorrectly referred to FXFOWLE as the designer for the renovation, referring to an earlier version of the same news posted to CurbedNY.</em></p> <p>More on WeWork and its residential foray, WeLive:</p> <ul><li><a title="More details emerge about WeWork's residential endeavor WeLive" href="http://archinect.com/news/article/135806594/more-details-emerge-about-wework-s-residential-endeavor-welive" rel="nofollow" target="_blank">More details emerge about WeWork's residential endeavor WeLive</a></li><li><a title="WeWork moves into residential development with WeLive" href="http://archinect.com/news/article/123197014/wework-moves-into-residential-development-with-welive" rel="nofollow" target="_blank">WeWork moves into residential development with WeLive</a></li><li><a href="http://archinect.com/features/article/92243101/working-out-of-the-box-miguel-mckelvey" rel="nofollow" target="_blank">Working out of the Box: Miguel McKelvey</a>, co-founder and Chief Creative Officer at&nbsp;WeWork</li></ul> https://archinect.com/news/article/135806594/more-details-emerge-about-wework-s-residential-endeavor-welive More details emerge about WeWork's residential endeavor WeLive Alexander Walter 2015-09-03T14:29:00-04:00 >2018-01-30T06:16:04-05:00 <img src="https://archinect.gumlet.io/uploads/e4/e4f3in7qninus4oc.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>WeWork, the $10 billion startup that leases space to startups, has bigger ambitions: it wants to rent you a "co-living" space where you work, too. WeWork is busy launching its co-living apartments &mdash; known as WeLive spaces &mdash; in places like New York City and Washington DC, The Information reports. [...] WeWork will offer more than 250 micro-apartments at that location, along with amenities like bike parking, an herb garden, and a library.</p></em><br /><br /><p>Read also our <em>Working out of the Box </em>interview with <a href="http://archinect.com/features/article/92243101/working-out-of-the-box-miguel-mckelvey" rel="nofollow" target="_blank">Miguel McKelvey</a>, co-founder of WeWork and a trained architect himself.</p><p>Previously in the Archinect news: <a href="http://archinect.com/news/article/123197014/wework-moves-into-residential-development-with-welive" rel="nofollow" target="_blank">WeWork moves into residential development with WeLive</a>.</p>