San Francisco-based Airbnb recently announced a cash infusion of up to $200 million which is intended to help it roll out Airbnb-branded apartments — buildings designed from the ground-up for home-sharing — in cities across the U.S.
There’s already one 324-unit building in the works in Kissimmee, Florida, and Airbnb’s developer partner plans to open at least three more by the end of 2018. Silicon Valley residents eventually may see one in their community. While Airbnb has said the project first will target communities in the Southeastern U.S., the Bay Area is “obviously a great potential area,” said Chris Lehane, Airbnb’s global head of policy and public affairs.
“This is going to be part of the future of housing, not only in Florida but also across the country,” Lehane said Monday during a conference call with reporters.
Real estate investor Brookfield Property Partners is contributing up to $200 million to the new apartments — which will be called “Niido Powered by Airbnb” — including $20 million already allotted to the Florida project under construction. That building is slated to open next year.
The apartments will be built by Miami-based developer Newgard Development Group, which will fund construction and retain ownership of the buildings.
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