Have you heard of our newsletter, The Orb? In The Orb we provide readers with everything from thoughts on the state of housing, city development, and the coliving and multifamily market to news and updates on everything Starcity.
Here’s an excerpt from of our latest issue- if you want to subscribe to get future issues, just click here!
The Orb Vol. V: Checking in on Starcity Barcelona
It’s hard to believe that it has been a year since Starcity began operating its first coliving assets in Spain.
Starcity Barcelona opened its doors for new Starcitizens in May 2020, during a time where the world was just beginning to process the impact of COVID-19. Despite the uncertainty in the air, we have managed to expand to 150 operating beds across Barcelona, with a happy and engaged member base.
In this latest issue of The Orb we look back at how far we’ve progressed with with our Barcelona assets and give a sneak peak at how we’re expanding even further into Spain!
Starcity’s first international landing in Barcelona
Last year’s launch was marked by an agreement with Barcelona Homes under which the family office committed 9 multifamily buildings located in the heart of Barcelona and spanning approximately 200,000 SF to the Starcity platform.
Starcity signed a Development Services agreement, through which it provided architectural design, project management, construction oversight and FF&E services. Upon completion, Starcity assumed full operation of these assets.
The properties, which previously were underperforming and leased on a traditional basis through long-term contracts, are now being repositioned and operated under a plug and play strategy with both traditional private apartments and coliving units under one roof.
During the repositioning of these assets, Starcity took a proactive development approach, building a team consisting of multiple general contractors and internalizing some of the most costly trades such as carpentry and window vendors.
Each building has been developed with a unique identity, while still retaining elements that create a high level of brand consistency and awareness across the assets.
With all assets being located within a 3-mile radius less than 10 minutes apart from one to another, Starcity is creating a network of horizontal communal spaces scattered across the building to foster intra-property community and increase the overall portfolio value.
The first set of such spaces, which includes a large coworking lounge and two roof decks, has been delivered. Next we will be launching a brand new gym and cocktail lounge, which will open this summer and fall respectively. Additionally, a popular outdoor terrace cocktail and large restaurant owned by Barcelona Homes will also be added to the Starcity ecosystem in 2022 by allowing all Starcity members (residents and non-residents) to enjoy sponsored events at these marquee off-site locations.
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