SAN FRANCISCO / LONDON (IT BOLTWISE) – An innovative startup in San Francisco plans to convert a vacant building into a megadorm with 400 sleeping pods. This development could provide a much-needed solution to affordable housing in the city.
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In San Francisco, the startup Brownstone Shared Housing recently purchased a vacant building on Market Street to build a megadorm with 400 sleeping pods. This decision comes as a surprise as the company previously struggled financially after facing an eviction notice over unpaid rent at its previous location in Mint Plaza.
However, Brownstone founder James Stallworth was able to attract new investors, whose identities he did not reveal, and secured the Market Street building. This project marks a significant step in the company’s strategy to create affordable housing in a city known for its high rental prices. The sleeping pods offer a cost-effective alternative to traditional rental housing and could provide a solution for many people who work in San Francisco but struggle to find affordable housing.
Converting commercial properties into housing is a trend that is becoming increasingly common in the city, especially since the pandemic left many offices empty. The Market Street building, previously used as office space, now offers the opportunity to create much-needed housing. This development reflects changes in the real estate market, where empty office buildings are increasingly being converted into residential space to alleviate the housing shortage.
Stallworth stresses that demand for the sleeping pods is high, and he plans to properly apply for permits to convert the building. Brownstone has had trouble with authorities in the past because its conversion of Mint Plaza into sleeping pods was done without the necessary permits. This time, however, the company wants to meet all legal requirements to enable the new location to open in the summer.
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