Coworking Space Options Increasing
As coworking space grows in popularity, it is evolving to include more workspace options. My Space Downtown, a coworking site in downtown Panama City, is undergoing an expansion that reflects new options for workers.
A brief history of coworking’s rapid growth
Coworking started in the 1990s, with workers sitting at long tables, with plugged in desktop computers and hardwired phones, often in a sparse room with no amenities. The movement began in Berlin and didn’t reach the United States until 2005, where the first coworking space was a feminist collective called Spiral Muse in the Mission district of San Francisco.
Since 2005, coworking has steadily grown in popularity, spurred over the last 17 years by four mega-trends:
The first change was technology, which turned desktops and laptops into powerhouses of word processing, data analysis and presentation formats.
The second factor was the expansion and availability of the internet, connecting workers online and allowing them to access information as well to as connect in real time by live video.
The third trend was the explosion of freelance work, giving companies more labor flexibility and workers more freedom.
The fourth influence was the COVID-19 pandemic, which forced even full-time employees to work remotely, often now at coworking sites.
Coworking is becoming so popular that it’s creating a workplace revolution in the U.S. In 2017, there were 542,000 people working in coworking spaces in the U.S. This has doubled to about 1.08 million coworkers in 2022.
With growth, newer space options now abound
With the growth of the coworking industry, workers are demanding more options than the once common long table with internet and phone connectivity. Coworking space designers are responding with new and creative work options, typically available for short- or long-term rental.
A case in point is My Space Downtown in Panama City, Florida. The 12,000-square-foot space opened just a year ago, with shared workspaces, dedicated desks and private offices. In just 12 months, My Space Downtown already is expanding to meet demand.
A My Space Downtown private pod with a skylight.
In the expansion, My Space Downtown constructed new offices and standalone “pods” that serve as larger private workspaces. All workspaces include access to high-speed Wi-Fi and typical office amenities, such as printing services, free parking, vending machines, shredders and notary services.
In addition to a business infrastructure, the space offers workers the chance for social interaction, work collaboration and networking.
“Coworking is becoming popular among a range of workers,” said Michelle Sparks, office manager. “We get entrepreneurs, freelancers, students, startups and even corporate workers who have arranged hybrid work schedules. Plus, being in Panama City, we are welcoming vacationers who need time in the office along with time on the beach.”
For added convenience, My Space Downtown is close to restaurants and workout facilities, so workers can work, play and eat without a further commute or parking issue.
Coworking space will continue to evolve as demand ramps up
The future of coworking and the creative use of coworking space is expected to continue, as the market size alone is forecast to grow from $8 billion in 2022 to $24 billion in 2030!
As coworking continues to grow, its use is even predicted to expand beyond traditional work. Predictions are that coworking space will offer mental health visits (meditation, mindfulness and counseling), training workshops, and specialized coworking spaces, such as for people with pets or chefs creating new foods.
Coworking companion services (in addition to office space) are expected to evolve, too. Currently, coworkers can access copy and fax machines, postal meters, coffee machines and refrigerators. In the near future, though, some spaces plan to add services like airport pickup, personal assistants and office cleaning.