Digital Communities

Creating connections with others is cited as a major driver for the adoption of co-working spaces. Co-working ‘communities’ are often proactively curated by community managers, who join the dots between members, create relationships, and drive stickiness to the asset. WeWork, whose vision is to build a community where you ‘join as an individual me, but where you become part of a greater we’ affirmed its commitment to this last year through buying events and community platform Meetup for $200m. Traditional office investors have struggled to respond to this challenge, but there are solutions to be found in digital technology. Last week Melbourne based Equiem, announced a partnership with Vornado Realty Trust in New York, to offer portal applications for connecting tenants within a building. Using similar systems investors can branch into offering services such as health and wellbeing classes and a community directory, without needing to establish their own operating business/brand. That said, digital beer taps would remain a poor substitute for the real thing.