Presidio Bay and Starcity, Inc. have created a new joint-venture platform named Civitas Development, LLC that will be focused on the acquisition, renovation and long-term operation of co-living multifamily assets throughout the nation. Co-living is a natural evolution of the urban residential rental market that offers flexible, affordable and community driven housing solutions for renters of all ages, demographics and professional backgrounds. The goal is to revitalize urban cores and serve the “missing middle” of our population who are being squeezed out by rising housing costs and inaccessible benefits.
Civitas is poised to transform co-living into an institutional investment asset class of its own by aggressively pursuing both ground-up development and rehabilitation of existing hotel and single-room-occupancy buildings. Civitas combines Presidio Bay’s expertise in commercial real estate development with Starcity’s technology enabled co-living community and product knowledge to create a vertically integrated development and management platform.
About Presidio Bay: Presidio Bay is a commercial real estate investment and development firm focused on the design, construction and long-term operation of a diverse set of product types for private and public sector tenants across the United States.
About Starcity: Starcity's mission is to make cities more accessible to everyone by creating comfortable, community homes that inspire people to live a more intentional life.