Chance are, you probably only think about Verizon when you're going to pay your phone bill each month. But now, a select group of startups will also think of the telecom giant as their new landlord.
Verizon is partnering up with co-working group Alley to bring two new co-working spaces to life: One in Washington, D.C. and another in Cambridge, Massachusetts. Each location is set to soft launch on June 29.
Up to 200 startups will be allowed to rent out space at the co-working locations, and each property will have access to Alley's staff. Verizon will be the proprietor of each location. Verizon is one of Alley's largest members, so it makes sense that the company would partner with Alley over other big D.C. co-working chains like WeWork and cove.
The launch of the new locations comes as D.C.'s co-working space continues to crowd. WeWork is opening two new locations in the District this summer, one on H Street NE in July and another in Navy Yard in August, bringing it up to 10 locations in D.C. Logan Exchange opened its doors in February, and New York-based The Wing, an all-women co-working space, announced it would be coming to D.C. in the near future.
As a part of the partnership, Verizon is scouting out some of its current properties that might be obsolete or in need of a new remodel and converting the spaces into co-working spaces. Alley is helping the telecom giant figure out which spaces are best and provides the staff to help them run. The two companies will share the revenue at each location.
And unlike places like WeWork, "Alley, powered by Verizon" is aiming to be more exclusive. Staff will carefully vet each application to the spaces, according to a press release. Ideal members will be startups that have an eye for growth of the community as a whole.
Alley DC will be located at 2055 L St NW, and Alley Cambridge will be located at 10 Ware St.
Image used via CC BY 2.0 — credit home thods
