Why are young professionals interested in micro-apartments? In comparison with previous generations, Millennials are less inclined to stay in one location or one career in the long-term. They’re waiting longer to settle down, so they’re living alone longer. They want to live, work, and play in the heart of the city. The best case scenario is to find a studio apartment in a vibrant neighborhood that’s convenient to work, and also allows them to spend their free time how they choose.

In addition, many Millennials are attracted to the concept of co-living because of the community that many micro-apartment buildings provide. A key example is Havemeyer, located in Brooklyn’s trendy Williamsburg neighborhood. The building houses 51 residents throughout 12 suites. The lower-than-average rent includes a private, furnished bedroom, plus shared lounge rooms, bathrooms, laundry rooms, and kitchens stocked with supplies. What sets Havemeyer apart is that it invests a great deal of resources into community management to maintain a stable cohort of residents in the long-term. Four residents act as “house leaders” within the building, responsible for running events, stocking supplies, and resolving issues—the grown-up equivalent of a college RA. The building’s management company even runs a vacation home in The Berkshires to give residents the chance to build relationships during a weekend escape.