Starcity

Making housing affordable is a huge consideration for many potential buyers–not for the diversity of options but the lack of them. Finding the right location that is close to work and provides community, security, and comfort is a challenge. In some markets, it has become a scavenger hunt. That’s why Starcity created its version of dorm living, which it calls community homes.

Starcity’s concept is to renovate outdated urban buildings into dorm rooms suited to a middle-class renter. Residents share bathrooms, kitchens, and living rooms but have individual sleeping quarters. With more than $19 million in venture capital raised, Starcity has opened five properties across San Francisco and has nine in development with more than 8,000 potential residents anxiously waiting for an open spot. In San Francisco, Starcity’s model is offering rents 40% below average, plus the units are furnished and include utilities and Wi-Fi. The projects appeal to renters for practical reasons, mainly affordability, co-founder and CEO Jon Dishotsky told Bisnow. But after moving in, Dishotsky adds, most residents learn to appreciate the community aspect, which includes a community manager who not only manages the building operations but takes care of sick tenants in need and organizes birthday parties.