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The Collective

Brooklyn, NY

Student Housing - Development

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Brooklyn, NY

The Collective

STUDENT HOUSING - DEVELOPMENT

The Collective, the leading global co-living company based in New York, London and Berlin, today announced it has secured $75 million in construction financing for its latest co-living development, 292 North 8th Street in central Williamsburg, Brooklyn. Terms of the financing, provided by ACRES Capital, were not disclosed.

North 8th is an 11-story student housing and short/medium stay co-living development in Williamsburg. Once completed in 2022, North 8th will offer:

    • Extensive shared amenities
    • Dynamic programming
    • Access to a beautifully designed student lounge
    • Classroom spaces
    • Street-facing food and beverage options
    • Outdoor courtyard
    • Fitness and wellness level with sun terrace
    • A program of seminars, lectures and think tanks

    In The Collective’s signature style, the general public will also be welcome to take advantage of both the space and its programs.

    North 8th, which is in partnership with local universities, will accommodate 97 rooms for students with the remaining 127 studios geared for nightly and monthly stays.

    The Collective’s growing, global network of co-living spaces offers thoughtfully designed efficiencies in the private living space to create a surplus of square footage for unique shared amenities and experiences. To date, the company has raised over $1 billion to fund its growth, bringing to life its vision of making co-living an option for people all over the world.

    North 8th will open alongside The Collective’s two previously announced Brooklyn projects, 555 Broadway and 1215 Fulton Street, in 2022. Also in development by The Collective are 2825 NW Second Avenue in Miami, Florida’s Wynwood District and 633 LaSalle in Chicago, Illinois. This year, the company announced an ambitious plan to launch 100,000 units by 2025, which will service increasingly nomadic global populations with quality, attainably priced and flexible living solutions across the United States, United Kingdom, and Germany, among other locations.

$75 Million

Loan Amount

24 Months

Loan Term

Construction Loan

Loan Product

“North 8th, with its mix of extensive shared amenities and dynamic programming for a unique intergenerational community of members, is going to be a game changer, and we’re excited to build it. We are pleased that ACRES Capital is supporting our vision.”

- Simon Koster, The Collective’s Head of U.S. Development

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