MANILA -- A newly built co-living space in Makati has young professionals and students in mind.

Located along Yakal, Lumbayao, and Bakawan Streets in San Antonio Village, The Grid Co-Living is a 10-storey, 192-room property by Georgetown Ventures Inc. (FGVI) and managed by Hospitality Innovators Inc. (HII).

It aims to fill a gap amid rising rent, heavy traffic in Metro Manila, and tight budgets of millennials and Gen Zs. The Grid Co-Living promises to offer amenities similar to a condominium at rates closer to that of a dormitory, plus the opportunity to be part of a community.

"Our vision for The Grid was to create a space that would cater to the needs of young professionals, entrepreneurs, students, and creatives who are looking for more than just a place to sleep. We wanted to create a space where people can connect, collaborate, and grow together," FGVI president Kristopher Yang said shortly before guests and members of the media were given a tour of the new property.

HII's Luis Monserrat, for his part, said: "In our minds, The Grid addresses a very real and pressing need in the context of today's urban realities and challenges. Average commute times for many office workers as well as students can run 3 to 4 hours every day, or even more at times. The toll that this takes on productivity and well-being is staggering."

"On the other hand, oftentimes the lodging options available to this market given their budget leave much to be desired in terms of quality and lifestyle. So, for people working or studying in Makati, The Grid will offer both a highly convenient and accessible location coupled with quality accommodations and excellent amenities. All of this at a price which is affordable even to junior-level employees," he added.

Introductory rates at The Grid Co-Living start at P5,400 per month for a bunk bed in a Quadruple Room (16-21 sqm), and P7,000 in a Triple Room (14-18 sqm). Each unit includes a shared pantry, dining area, en suite bathroom, air conditioning, and storage locker.

The 14-sqm Single Room is for those who want to have their own private space, and is priced at P15,000 per month. Other options include the larger 4-in-1 (36-39 sqm, P10,000 per person a month) and 8-in-1 (36 sqm starting at P5,500 per person a month) units, which come with separate bedrooms instead of bunk beds.

Amenities include a swimming pool and lounge on the rooftop, a fitness center, and various establishments on the ground floor. The Grid Co-Living is also open for short-term stays for its different unit types, with rates starting at P1,750 a night for a Single Room.

The idea of co-living, or sharing a room with strangers, may seem counterintuitive given the nature of the COVID-19 virus. But Yang believes that there is still a huge demand especially as the pandemic eases, saying The Grid Co-Living aims to "provide a solution to an existing problem."

"We had faith in the product... because we know that it (pandemic) is only for short term," he told ABS-CBN News.

"At the end of the day, this product serves a solution to an existing problem that we have. They need a place to stay that's close to their work and traffic, and I think eventually the demand [will go up because] it's providing a need," Yang explained.