Common Launches Brand for Workforce Renters,Outer Boroughs New York
Co-living developer Common has launched its new workforce housing brand, Noah Living, in partnership with Outlier Realty Capital. The brand is geared toward the 13.5 million renters in the U.S. earning 60% to 120% of area median income—a segment which Common says innovation has lagged due to national operator’s focus on luxury rentals.
“I see Noah as the next logical step in our mission to add value to the renting experience, and we’re fortunate to have a launch partner in outlier Realty Capital that truly shares Noah’s vision,” said Common founder and CEO Brad Hargreaves.
While New York City-based Common operates properties in its hometown—primarily in Brooklyn—along with Washington, D.C., Chicago, Seattle, Los Angeles and San Francisco, Noah will focus on the Mid-Atlantic and Sunbelt markets. Its first five properties are in the Hampton Roads metro area in Virginia.
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