From the outside, a three-story townhome in the Third Ward looks like it belongs on the for-sale market, with a contemporary façade and clean lines. But this townhome is unlike most other new construction in Houston — instead of two to three bedrooms, it has 10. And instead of a couple of bathrooms, it has 10 of those too.
That’s because the townhome was built for coliving, where tenants rent a bedroom in a shared home to save money, meet people and build community. The professionally managed units resemble a grown-up version of an adult dorm.
The Third Ward townhome is among roughly 33 new coliving properties recently built or under development in Houston by investors working with Passive Investment Network (PIN) Group, a Houston-based real estate investor network. The properties are spread across the Third Ward and University of Houston area, Near Northside, Independence Heights and the East End. They’re part of a growing network operating through PadSplit, an Atlanta-based firm focused on providing affordable housing through coliving…