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DENVER — A co-living company called Podshare is making plans to expand to Denver.
The California-based company, which could be described as dorm-style living for adults, is a bi-product of skyrocketing rent prices.
In California, Podshare offers a 50-square foot pod or a bunk bed that can be rented for $50 a night, $280 a week or $1,000 a month.
Podshare CEO Elvina Beck said prices would be different for Denver renters because housing is more expensive in California. She said Denver's prices may look more like $500 a month.
“So, we have different tiers,” said Beck.
.@PodShare, a co-living startup that leases a bed or pod instead of a whole room says in the next 3-5 years, the company wants to expand to Denver. Rent rates in Denver haven’t been decided yet but in California they got for about $1000 a month. Would you give Podshare a try?
— Micah Smith (@MicahSmith_TV) August 30, 2019
She said renting allows members to utilize all Podshare locations without transfer fees.
The monthly rent also comes with linens, towels, toiletries, Wi-Fi, basic food items, bikes and computer access.
Beck said she knows this concept isn’t for everyone, but she thinks it will be great for Denver’s artists and innovators.
“The city seems to be growing, becoming unaffordable," she said. "It's filled with a bunch of thinkers, young or old, and it’s a really good place. And we thought that Podshare should always exist in place where there’s innovation or stimulation."
Beck also said Podshare could help newcomers who don’t want to commit to a lease or buying a home in Denver right away.
“Everyone’s vying for the same amount of supply," she said. "You have a little amount of supply (and) you have a high demand in cities, like Los Angeles or Denver. And if people came… as a temporary solution to understand what part of town really makes sense for them, then they could get a place to stay right after that point."
Podshare living comes with some privacy sacrifices. Renters cannot cover the front of their pod (no “tenting”), no visitors are allowed, and quiet hours are from 10 p.m. to 10 a.m.
Beck said Podshare hopes to locate in Denver within the next three to five years.
For now, the company is researching the parts of the city with the largest need for affordable housing and the types of permits Podshare will need in order to operate.