Largest Co-Living Provider In U.S., Europe Expands In Austin

AUSTIN, TX — QUARTERS, which bills itself as the largest co-living provider in this country and Europe, revealed details on its first site in Austin that bolsters its portfolio to seven sites across five cities.

With 120 beds, the new location will be Austin’s first major co-living offering, officials said.
"Austin is the perfect fit for QUARTERS,” Gunther Schmidt, CEO of QUARTERS, said in a prepared statement. “With a well-established tech and music scene, Austin has become a mecca for entrepreneurs and a top city for young people.

"At QUARTERS, we provide an all-inclusive lifestyle specially tailored to young professionals and built around convenience, flexibility, and community. We’re excited to bring this unique offering to Austin and further promote the city’s incredible culture of innovation.”

Gunther Schmidt, CEO of QUARTERS. Courtesy photo.

The new location will be a ground-up, new-construction building located at 1108 Nueces St. in downtown Austin, within a short walking distance from The Dell Medical Center, Google’s new Austin campus, and several prominent government buildings. Encompassing 45,000 square feet, the five-story building will include 120 beds across 30 units and feature an expansive rooftop deck with views of the downtown skyline and capitol dome, officials described.

The property set to open the spring of 2021 is owned by Austin-based real estate development firm Weaver Buildings. Designed by award-winning architecture firm McKinney York Architects, the high-performance building targets a 5-star Austin Energy Green Building Rating and Fitwel certification by utilizing Passivhaus and net zero design techniques.

The building holds a wide array of sustainability features, including on-site water detention, a multi-layered rooftop garden, and tech integration for energy efficient use, officials said. Activate Architecture will lead the integration of public art throughout the project via community engagement and an open call to local artists. In addition to the QUARTERS location, the property will also include 6,000 square feet of retail on the ground floor.

“As an Austin resident since 2001, I have witnessed firsthand a population boom and subsequent housing demand for market-rate affordable options,” Jen Weaver, founder of Weaver Buildings, said in a prepared statement. “By partnering with QUARTERS, Weaver Buildings is providing innovative and sustainable housing solutions to help meet this demand while also contributing to increased walkability in our evolving urban Austin.”

Officials said the announcement of the Austin location follows QUARTERS’ $300 million raise for its U.S. expansion and roughly $1.1 billion raise for its European expansion, announced in December 2018 and January 2019, respectively. The two raises are set to bring 1,800 new units to the U.S. market over the next three years, and 6,000 additional units to Europe over the next five years, officials added.

All told, QUARTERS has six locations in Europe and the U.S., including three active sites across New York City and Chicago. In addition to Austin, QUARTERS has pending sites in Washington, D.C., Philadelphia, and Brooklyn — all set to come online by 2019 and 2020. Target cities for future sites include San Francisco, Los Angeles, Boston, Denver, Seattle and Miami.

Company officials said QUARTERS’ co-living locations aim to alleviate the stresses of urban living, facilitating a frictionless, technology-enabled experience. Each property offers private, furnished bedrooms within modern apartments that feature attractive common areas and foster a strong sense of community through regular curated events. Rent, utilities, furnishings, smart-home technology, professional cleaning and streaming services are also included as part of the tenant’s affordable monthly payment.

About QUARTERS

With more than 3,000 beds committed across the U.S. and Europe, QUARTERS is a global co-living brand that offers a new and unique living experience for young professionals. The QUARTERS lifestyle is built on convenience and flexibility and is driven by the understanding that the value of home is created by shared experiences. Learn more at www.Quarters.com.