AUSTIN (KXAN) — It’s a growing trend. More people are ditching traditional cubicles for coworking spaces and according to a new report from JLL, those types of work spaces will continue to gain popularity, especially here in Austin.
“A lot of companies can be saving money by moving into a flexible space,” said Senior Associate Bre Brown. “It’s already built out. You don’t have to worry about construction costs. You’re then able to put people in the space immediately.”
According to the commercial real estate company, right now, flexible space inventory accounts for less than 5 percent of U.S. office stock, but because the demand is growing, that number will skyrocket to about 30 percent of the market by 2030.
Austin is the fourth likely city behind New York, San Francisco and Silcon Valley to see one of the highest growths in coworking spaces.
“They see that construction costs are often cost prohibitive for a lot of young companies, and Austin has a culture catering to those starting tech companies,” Brown explained. “They’re growing. They’re fast. They need to the ability to be flexible, to be nimble.”
One particular trend, Brown said, to watch is coworking spaces catering to certain people or industries.”No company’s the same,” she said. “No company has the exact same needs.”
One of those unique shared work spaces opening soon in Austin is the Riveter.
“We looked to cities where we see incredible populations of women who are starting businesses, and they can be starting anything,” said Amy Nelson, CEO and Founder. “So we think Austin is a perfect place for us to land in Texas.”
Currently, the Riveter has locations in Washington and California. Austin is the company’s first expansion in this part of the country and it will be opening in March at 1145 W. 5th Street near downtown.
The Riveter is designed with women in mind, Nelson explained. “Most women, almost 85 percent who start businesses, are building solo endeavors, so when they go into a space they might want, open space, the opportunity to collaborate and interact.”
Nelson also added, they offer part time memberships and partnerships with childcare providers to cater to moms who work. “When you’re starting a business and you think about your options for where to work, you want a place where you can appear professional where you can take meetings and phone calls and really be proud of where you are.”