Though moving into San Francisco can be seemingly impossible, and deeply saddening and dignity-reducing task, many young people are still managing to do it. And now, as the Wall Street Journal reports, venture capital firms like Maveron and Fidelity Investments want to help the kids out. The companies have begun investing in "dorms for adults" in an effort to provide young people with a housing solution that just so happens to offer a high return on their investment.
San Francisco Business Times picked up on the story too, and notes that at the price of $1,800 per month (per room), there is quite a return to be had.
We've of course written about these types of living arrangements before, and as you might expect, they skew toward depressing. Stuffed full of people working "in tech, finance, and some interns, also startups and entrepreneurs," the spots appear to be a way to continue pretending you're in college but without, you know, the sex. Because: bunk beds.
The Business Times notes that these locations are not limited to the Bay Area, and says Maveron has backed New York-based co-living startup Common, which owns properties in Williamsburg and Crown Heights.
“You have this incredibly large category, which there’s not that much venture activity in, that needs to be reimagined,” Maveron partner Jason Stoffer explained to the Wall Street Journal. "[There is] insanely high consumer demand for reimagining how Millennials live in urban environments.”
Right, but how about Millennials with too much dignity for a bunk bed but not enough money? There's always Antioch.
Related: Apartment Sadness: Bunk Bed Room, Sleeps Six, Real Cheap