As WeWork pulls back in other cities, coworking company remains bullish on Austin
https://www.bizjournals.com/austin/n...-closures.html
Some highlights from the article.
By Parimal M. Rohit – Staff Writer, Austin Business Journal
"As coworking giant WeWork closes some locations in cities such as San Francisco, Phoenix, Denver and Washington, D.C., there are no signs that it will pull back in Austin, where it has seven outposts."
"A spokesperson with WeWork Companies Inc. said the company could even expand its presence in the Texas capital but declined to provide any details yet."
Calligar said Austin is one of the top-performing markets within WeWork.
Quendrida Whitmore, WeWork's territory vice president, said the many corporate relocation and expansion plans in Austin bode well for the company's presence in the Texas capital.
"WeWork is committed to the Austin market. We have no mid- or long-term plans to exit any of our Austin locations. Even during the pandemic, more than 150 companies announced relocation or expansion plans in Austin, proving just how dynamic and promising Austin’s business community is. We believe the future of work is all about flexibility and that for many, the future of work is in Austin," Whitmore said in an email.
In addition to its coworking spaces, WeWork owns a 4.7-acre site on the southeast side of downtown Austin, near Rainey Street. There has been speculation the company could partner with Lincoln Property Company and Kairoi Residential to build Austin’s tallest tower at the site, commonly referred to as Waller Park Place.