Designed To Share: Airbnb-Backed Developer Is Building Condos Made For Home Sharing

Newgard Development Group is opening condominium towers purpose-built for home sharing in Miami and Austin under the brand The Miami-based developer is also behind Niido, which invited controversy last year.

Designed To Share: Airbnb-Backed Developer Is Building Condos Made For Home Sharing

Curated via Twitter from Forbes Tech’s twitter account….

Operated under the brand Natiivo, the properties in Miami and Austin will be part of Powered by Airbnb, the home-sharing platform’s consulting business for new buildings.

Operated under the brand Natiivo, the properties in Miami and Austin will be part of Powered by Airbnb, the home-sharing platform’s consulting business for new buildings.

Many residents who had signed traditional year-long leases felt blindsided. "Surprise, You Live in a Giant Airbnb," read one headline from Bloomberg. (Niido’s two buildings were the first—and still the only—buildings cobranded as "Powered by Airbnb.

In May, WhyHotel, a startup that lists units on Airbnb but is not formally affiliated, announced plans for buildings designed specifically to accommodate both short-term guests and long-term renters.

In May, WhyHotel, a startup that lists units on Airbnb but is not formally affiliated, announced plans for buildings designed specifically to accommodate both short-term guests and long-term renters.

Natiivo and Niido are part of Airbnb’s wider effort to boost supply and diversify offerings, which is contributing to an industry-wide blurring of residential, hospitality and sometimes office spaces.

Natiivo and Niido are part of Airbnb’s wider effort to boost supply and diversify offerings, which is contributing to an industry-wide blurring of residential, hospitality and sometimes office spaces.

He now expects 6, all in the South, where home-sharing regulations are relatively flexible. "We really wanted to have Niidos in every major city in the U. S. , but there are a ton of regulatory challenges in cities where we want to have a presence," Hernandez says. "So we came up with a brand that provides an opportunity for us to have that presence and also comply with every major city’s regulations and restrictions.

When the first 249 Natiivo units open in Austin in 2021, owners will be encouraged to rent out their apartments when they are out of town.

When the first 249 Natiivo units open in Austin in 2021, owners will be encouraged to rent out their apartments when they are out of town.

Newgard founder Harvey Hernandez are also behind Niido, which provides the same home-sharing services to renters that Natiivo will offer to owners.

A rendering of Natiivo’s Downtown Miami condo building, which will be 48 stories, with 400 units for sale and 200 hotel units.

A rendering of Natiivo’s Downtown Miami condo building, which will be 48 stories, with 400 units for sale and 200 hotel units.

Newgard founder Harvey Hernandez are also behind Niido, which provides the same home-sharing services to renters that Natiivo will offer to owners.

Natiivo is a pivot for Hernandez, who at one point promised 14 Niido buildings would be operating by the end of 2019.

Natiivo is a pivot for Hernandez, who at one point promised 14 Niido buildings would be operating by the end of 2019.

Natiivo buildings will carry hotel licenses, which is not always allowed in buildings that house long-term tenants.

Natiivo buildings will carry hotel licenses, which is not always allowed in buildings that house long-term tenants.

"Surprise, You Live in a Giant Airbnb," read one headline from Bloomberg. (Niido’s two buildings were the first—and still the only—buildings cobranded as "Powered by Airbnb".

In April, the company led a $160 million round of funding into hospitality startup Lyric, which leases apartments in bulk and then rents them out like hotel rooms, making money off the spread.

In April, the company led a $160 million round of funding into hospitality startup Lyric, which leases apartments in bulk and then rents them out like hotel rooms, making money off the spread.

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