Friday, December 20th, 2019 December20th2019

Sell for More Trivia: What is Wellness Co-Living?

Published on December 20th, 2019

Sell for More Trivia is a weekly blog series that playfully presents a trivia question about commercial real estate.


Wellness co-living is a new idea that can be defined this way:

  • Communal living. People living together as a community in exchange for amenities and greater affordability.
  • A shift from long-term lease obligations to short-term memberships.
  • The consolidation of numerous amenities that would be unattainable individually like a home gym, co-working space, a personal chef, a yoga room, a movie theater and unique experiences.

Some believe we’re in the early stages of a seismic shift in people’s relationships with their living spaces.  Just as co-working has uprooted traditional models around office leasing, a slew of companies are leading a shift away from both homeownership and apartment rentals toward a new, membership-based residential model.  Companies like Ollie, WeLive, The Assemblage and others are building communities upon this thesis.

Trends driving the rise of the wellness co-living industry:

Rising Urban Living Costs

America is at the tail-end of a decade-long bull market. Low interest rates, job growth and a booming stock market have driven property values to unprecedented highs. Macroeconomic forces have created a disparity between supply and demand in all major metropolitan areas. There is an immense demand for “affordable” housing in the heart of urban areas. Yet, supply simply isn’t there, and it isn’t going to be.

The Sharing Economy

There’s a general shift away from “ownership” by millennials. Things that used to represent the hallmark of high achievement are now just cumbersome obligations. Airbnb has removed the desire by many to have a vacation home. Uber has caused a shift away from car ownership. Netflix has ushered a shift from content ownership to access. WeWork has led a shift from traditional offices to flexible membership arrangements.

As technology that connects us continues to rise, the shift from ownership to access will continue. It’s a trend that has disrupted every industry in its path, and the last trillion-dollar industry that remains undisrupted is residential real estate.

Loneliness, Burnout And A Cultural Shift Toward Health And Wellness

For the past 30 years, our society has glorified working hard and burning out.  This decades-long glorification of wealth lasted for so long because, despite its superficiality, people were still connected. There were no smartphones.  For humans to remain connected, they had to see each other face to face. And that interaction nourished us and sustained us through a long trudge toward the ultimate materialism.

But then, with the rise of the smartphone, that cultural thread began to wear thin. Materialism at all costs was previously tolerable because it supported authentic human connection: dinners with friends, relationships, meaningful interactions. With technology, that support system frayed. Streaming by yourself replaced movies with friends. Social media replaced authentic friendships. A culture of materialism, amplified by technology that perpetuates isolation and loneliness, is a pretty terrible place to be, yet that is where many find themselves.

Today, for many millennials, it has become unbearable to slave away at work and go home to complete social isolation. People get so burned out that they radically transform their lives to prioritize wellness.  They are even leveraging technology to support this newfound appreciation for wellness. Exercise and meditation apps are booming. On-demand organic food delivery services are on the rise. In an incredible turn of events, people use technology to reinforce healthy behaviors rather than destructive ones.

As burnout and tech-enabled isolation continue, so too will the trend of millennials prioritizing wellness over materialism, and wellness co-living is positioned to tap this trend.


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About Beau Beach, MBA CCIM

Beau is a tenacious Commercial Real Estate Broker, author and adoring father of four. His clients appreciate his no-nonsense demeanor and his legendary work ethic.

Beau leads Beachwood which is a commercial real estate broker for sellers in the Nashville, Milwaukee and South Florida markets.

He’s the author of the books The 3 Reasons: Why Most Commercial Properties Don’t Sell and True Wealth: What Every Seller Should Know About 1031 Exchanges.

Beau can be reached at 800-721-3287, click to schedule a call or