Collective to Expand Co-Living
Part of 12 month global expansion at combined gross development value of $3.5 billion.
The Collective has unveiled plans for a 705-room newbuild development in London’s Canary Wharf. The project will include flexible leases from a single night up to 12 months into its model for the first time, creating a brand standard for the co-living sector.
Set to open in July, the development is the company’s second location in the capital and will span 21 stories. The project will offer a variety of food and beverage outlets, including restaurants, food carts, and grab and go options. Other communal spaces at The Collective Canary Wharf include a swimming pool located on level 20 (shown), with an adjoining bar, a spa with a sauna, gym, aerial silks studio and mindfulness zone, and a fully equipped co-working space.The launch is a pillar of The Collective’s global expansion plans. In the past 12 months, the company has grown its global portfolio to a combined gross development value of $3.5 billion.
The company is also growing in New York. Last month, The Collective announced its third major investment in New York City, with the acquisition of The Paper Factory hotel, which took its combined gross development value across the city to $1 billion in the space of six months. Earlier in the year, the company announced its acquisition of the plot at 1215 Fulton Street in Bedford-Stuyvesant, Brooklyn. The co-living-led project to come will include publicly accessible spaces coupled with events, classes and workshops focused on culture and the arts. At the end of last year, The Collective announced its New York City flagship project at 555 Broadway in Brooklyn, which is due for completion in 2022.
Photo: Horus Communications