Our aim is to create a global chain of Urban Powerhouses - branded coworking spaces for creative companies in revitalized industrial properties. The chain of Urban Powerhouses starts with the pilot project Riga Powerhouse, and every next addition to the chain will be branded according to the city where the Powerhouse is located.
Riga Powerhouse is located in historical industrial area of Ganibu dambis in Riga. The building is 103 years old, steel frame structure with the ceiling height of 4 meters, large windows and brick facade. Total area of the 5-storey building is 17,500 m2. Adjacent territory is 65,000 m2. The landlord Rietumu Bank is reconstructing the building and territory on our behalf. It is expected that Riga Powerhouse will start to operate in this building in 2017.
In Riga Powerhouse, Coworking 2.0 concept will be implemented by offering isolated workspace (office module) for each creative company, but the social spaces, e.g. the kitchen, library, coffee place, meeting rooms, will be collaborative.
25 leading creative companies that employ more than 500 people have confirmed to be a member by signing a Letter of Intent.
There are 2 models for scaling up the chain of Urban Powerhouses:
1) Power Lease: Leasing a property from the landlord and sharing a percentage of the revenue with landlord for risk-taking.
2) Power Management: Managing the property on behalf of the landlord and collecting a percentage of the revenue for providing the brand and know-how.