Last week, SHARE NOW -- which was previously known as Car2Go -- announced that it will be exiting the North American market entirely come February 29, 2020, and that it will also cease operations in London, Brussels, and Florence. A couple of reasons were cited, including the "volatile state of the global mobility landscape," but that really translates into low adoption:
Further, despite our best efforts and investments in Brussels, London and Florence over the years, we are unable to continue operations in a manner that’s sustainable for our business due to low adoption rates.
Moving forward, SHARE NOW will focus on the remaining 18 European cities. We, along with our shareholders, believe these markets show the clearest potential for profitable growth and mobility innovation.
There was a period of time when I used to use Car2Go here in Toronto. My network did as well. But that quickly stopped with the rise of Uber and Lyft. I mean, why bother finding a Car2Go and then parking it, when there's a much lower friction option? I would imagine that's how most people feel. (Maybe there's a care share advantage for longer trips.)
Last week, SHARE NOW -- which was previously known as Car2Go -- announced that it will be exiting the North American market entirely come February 29, 2020, and that it will also cease operations in London, Brussels, and Florence. A couple of reasons were cited, including the "volatile state of the global mobility landscape," but that really translates into low adoption:
Further, despite our best efforts and investments in Brussels, London and Florence over the years, we are unable to continue operations in a manner that’s sustainable for our business due to low adoption rates.
Moving forward, SHARE NOW will focus on the remaining 18 European cities. We, along with our shareholders, believe these markets show the clearest potential for profitable growth and mobility innovation.
There was a period of time when I used to use Car2Go here in Toronto. My network did as well. But that quickly stopped with the rise of Uber and Lyft. I mean, why bother finding a Car2Go and then parking it, when there's a much lower friction option? I would imagine that's how most people feel. (Maybe there's a care share advantage for longer trips.)
At the same time, companies such as Uber and Lyft have, as you know, not performed well as public companies. The market is nervous about their path to profitability. In my view, they're largely an undifferentiated offering right now, and it's pretty easy to switch across them. So yeah, I guess the global mobility landscape is pretty volatile.
At the same time, companies such as Uber and Lyft have, as you know, not performed well as public companies. The market is nervous about their path to profitability. In my view, they're largely an undifferentiated offering right now, and it's pretty easy to switch across them. So yeah, I guess the global mobility landscape is pretty volatile.
This morning the Toronto Star published a profile piece on one of Junction House's earliest purchasers: Barbara Martinez. Barbara downsized from a house to a 1-bedroom condominium in Roncesvalles, but then realized that she still wanted space to entertain and have guests over. So she decided to buy a 3-bedroom penthouse at Junction House with an approximately 350 square foot terrace. That'll work. It is truly one of the nicest suites in the building, and will come equipped with a view of the Toronto skyline that looks something like this (see background projection below):
I am quoted in the article as saying that mid-rise condominiums in Toronto's neighborhoods naturally tend to attract a different set of buyers compared to, say, a downtown tower. That is true and we are seeing it play out at Junction House. Yes, we have 1-bedroom suites that are perfect for young professionals and/or investors, but we also have some spectacular 2-storey suites (the House Collection) and larger single-storey suites for people just like Barbara. Congratulations on your new home purchase!
The book covers the following multi-unit housing typologies:
Back-to-backs in Birmingham
Tenements in London
Haussmann apartments in Paris
Tenements in New York
Tong lau in Hong Kong
Perimeter block, linear block and block-edge in Berlin
Perimeter block and solitaire in Amsterdam
Space-enclosing structures in Beijing
Kyosho jutaku in Tokyo
High-rises in Toronto
In addition to each typology, the book analyzes the connection between the housing type and the city. Why did certain typologies flourish where they did and how have they helped to define their city?
It reminds me of what I was trying to do with some of my recent posts about Hong Kong’s typical tower plan, albeit with far less rigor than what I am sure has been applied to this book.
I am also curious to read what has been written about high-rises in Toronto. It goes to show you just how defining the current real estate cycle has been for this city. That’s our multi-unit housing typology.
This morning the Toronto Star published a profile piece on one of Junction House's earliest purchasers: Barbara Martinez. Barbara downsized from a house to a 1-bedroom condominium in Roncesvalles, but then realized that she still wanted space to entertain and have guests over. So she decided to buy a 3-bedroom penthouse at Junction House with an approximately 350 square foot terrace. That'll work. It is truly one of the nicest suites in the building, and will come equipped with a view of the Toronto skyline that looks something like this (see background projection below):
I am quoted in the article as saying that mid-rise condominiums in Toronto's neighborhoods naturally tend to attract a different set of buyers compared to, say, a downtown tower. That is true and we are seeing it play out at Junction House. Yes, we have 1-bedroom suites that are perfect for young professionals and/or investors, but we also have some spectacular 2-storey suites (the House Collection) and larger single-storey suites for people just like Barbara. Congratulations on your new home purchase!
The book covers the following multi-unit housing typologies:
Back-to-backs in Birmingham
Tenements in London
Haussmann apartments in Paris
Tenements in New York
Tong lau in Hong Kong
Perimeter block, linear block and block-edge in Berlin
Perimeter block and solitaire in Amsterdam
Space-enclosing structures in Beijing
Kyosho jutaku in Tokyo
High-rises in Toronto
In addition to each typology, the book analyzes the connection between the housing type and the city. Why did certain typologies flourish where they did and how have they helped to define their city?
It reminds me of what I was trying to do with some of my recent posts about Hong Kong’s typical tower plan, albeit with far less rigor than what I am sure has been applied to this book.
I am also curious to read what has been written about high-rises in Toronto. It goes to show you just how defining the current real estate cycle has been for this city. That’s our multi-unit housing typology.
