Using Excess Space to Bring the Community Together
As the economic landscape for publishers continues to evolve, many companies have been left with fewer employees and more empty space. Publishers across the US have gotten creative with how they re-purpose the unused space with the goal of bringing in additional revenue.
We want to shine a spotlight on one company in particular, The Boston Globe. When the new Publisher, Christopher Mayer, stepped in, he made some drastic changes to the office. Like many companies in the industry, The Boston Globe had excess space and no one to fill it.
Rather than take the traditional path of renting out the space, The Globe opted to use the space to bring some of the most creative minds together. They invited startups, musicians and entrepreneurs to share their space.
Instead of charging rent, which many startups can’t afford, the Globe is actively pursuing ways to work together with the innovative companies sharing their space. In an interview with the New York Times, Mr. Mayer described the increased creativity, energy and community engagement they’re experiencing as a result of opening up the space.
Having helped numerous startups determine the right real estate solutions for their growing company, we understand how tricky budgeting, space utilization and planning can be. It’s refreshing to see that opening up their space to entrepreneurs has proven to be rewarding for both The Boston Globe and the developing companies.