Chad Johnson
Co-founder, Thrive Workplace
When the co-working craze took off about a decade ago, shared office spaces were the obvious choice for Denver’s emergent startup community. Not only do co-working facilities provide affordable office space to bootstrapped entrepreneurs, but also a number of local venues invested in various programming, community spaces and awesome perks, attracting everyone from CEOs to freelancers to their friendly confines.
In Denver, you can hardly walk around the block without running into more than one shared workspace as people are trading stodgy cubicles for desks in invigorating open spaces and community-focused co-working facilities. But it isn’t just Denver where co-working has taken off. By the end of 2018, co-working spaces are expected to see 1.7 million members globally.
As Denver’s robust co-working ecosystem matures and expands, it is poised to advance as well, enhancing its focus on location, flexibility and community in order to adapt to the growing needs of an evolving community. The city’s burgeoning startup and technology scenes coupled with the state’s low unemployment rate, unmatched natural beauty and outdoor recreational opportunities have attracted residents from around the country, making Denver one of the most attractive places to live and work in the U.S.
Client evolution. As much as the Mile High City continues to expand, there also has been a surge in suburban growth accelerating in the sprawling areas surrounding the city. Anticipating the rise of the mobile worker to continue, businesses must have the flexibility to provide workspace options closer to where their employees live.
Many of the people who adopted co-working when the trend took off in Denver are now growing older, having families and beginning to buy homes in suburban locations. Many of these folks still value an energetic work atmosphere where others are networking and collaborating, but they don’t want to spend more than 20 minutes driving to work every day – especially across a city that’s still growing.
In addition, the increasing number of millennials and members of Generation Z joining the job market also are moving to suburban markets. Often, these individuals seek community-centric workplaces embracing the live-work-play balance and want to be part of a work environment that places a premium on sustainability, well-being and community.
Location, location, location. Employers are adapting to this shifting employee population by providing work locations closer to where these valued employees live in an effort to attract and retain top talent.
As education surrounding co-working continues to grow, people are asking, “Where is the nearest co-working space around me?” Rather than driving downtown, convenience is becoming the norm in today’s day and age.
And with a workforce that’s neither strictly urban nor suburban, people are getting work done everywhere. Co-working spaces tend to make their homes in walkable neighborhoods, and some of these locations increasingly are located in the urban periphery of major primary or secondary markets.
Best of all, rent for high-quality space in suburban locations is likely far cheaper than downtown spaces tend to be. While the proximity to bars and restaurants used to be a primary driver, today it’s more important that a space is accessible to where community members live while still offering them the energetic, collaborative vibe of a city workspace.
Employee needs. Employers, including technology companies, are luring young talent to suburban locations with creative office campuses that provide copious amenities along with greater housing affordability. Additionally, workers sometimes need both urban and suburban venues to get work done, and co-working locations situated near public transportation or major interstates make traveling to an urban location much easier.
Today’s workers value more of a balance between personal and work life. Nobody wants the hassle of a convoluted commute – and traffic in Denver seems to get worse with each passing year. People want the flexibility of going home in the middle of the day if they need to, whether to take care of a sick child or to take their four-legged friend out for an afternoon walk.
At the end of the day, as Colorado’s co-working community has matured and broadened, the co-working scene has progressed alongside its members. As the individuals change, so too do their wants and needs when it comes to co-working. In order to meet the growing needs of an ever-evolving community, co-working space managers and owners need to enhance their focus on location by formulating flexible workspaces and cultivating co-working communities where the people are increasingly locating – suburban markets.
