Minnesota-based Life Time Inc. is opening its first location in Houston in early 2019, and it won’t be its last.
Life Time Work, the recently launched coworking arm of Life Time Inc., will open its third coworking space in Houston in 25,000 square feet at CityCentre Five. Life Time Work will likely open another two or three locations in Houston in the next three to four years, James O’Reilly, president of Life Time Work, told the Houston Business Journal.
“There hasn’t been enough attention put in Houston,” O’Reilly said.
Life Time Work’s downtown location will likely be disclosed within the next 12 months, O’Reilly said. The company’s first-ever coworking space opened around five months ago in Philadelphia. When asked why Life Time didn’t opt to open its third location in a more developed coworking market, such as New York or Los Angeles, O’Reilly said that Life Time Work’s space doesn’t attract the typical coworking tenant — a young company, or one on a tight budget — and instead appeals to older, more established companies.
The company’s coworking space is slightly more upscale than standard coworking space that’s appealing to younger workers, O’Reilly said, and there’s unmet demand for that kind of space in Houston.
“We just think there’s a lot of changing dynamics in the Houston market,” O’Reilly said. “We think it’s diversifying a lot from the traditional industries that have thrived here.”
Life Time Work will offer three main types of memberships: office resident, which offers a private enclosed office; open resident, which provides a dedicated desk with secure storage; and lounge membership, which provides an open plan workspace that can accommodate a full-range of work styles. The space will include more than 48 offices and a variety of other workspaces.
Life Time has been steadily increasing its Houston presence. In June, Life Time opened a massive 248,000-square-foot athletic resort in Cypress that includes a cafe, salon and spa, tennis courts and several other amenities. Life Time also plans to open a location at the former Houston City Club at Greenway Plaza. Earlier this year, Life Time began renovating the 89,000-square-foot space and expects to reopen the athletic facility in the second quarter of 2019. In December, Life Time plans to open a Friendswood location at 19250 Gulfbrook Drive near Baybrook Mall.
Reporter, Houston Business Journal
Originally Published on November 26, 2018 at 11:39AM
Article published originally via coworking – Google News https://www.bizjournals.com/houston/news/2018/11/26/newly-launched-coworking-brand-were-planning.html