WeWork is reportedly planning to close its WeLive brand after four years. Bloomberg reports that the company is in the early stages of talks, which includes possibly handing over operations of its Virginia WeLive location. The company runs two WeLive locations, one in Crystal City, Virginia, and the other in New York City’s Financial District.
This news comes as WeWork has been shedding non-core businesses including its elementary school WeGrow and its stake in The Wing. The company had abandoned plans to operate a WeWork and WeLive in a Seattle high-rise last October. WeWork also was charged in a lawsuit for backing out on a $450 million investment in a San Francisco WeLive development last month.
WeWork initially had ambitious plans for its co-living brand, hoping to reach 34,000 residents and generate $606 million in revenue, according to Bisnow.
photo credit: WeLive
