$10 billion startup WeWork displaced an anti-eviction group to make room for more startups
The Eviction Defense Collaboration and Tenants Together are losing their office space to the coworking company as it takes over their floor in an office building, as reported by San Francisco Magazine.
The groups shared the 12th floor of 995 Market St in what's nicknamed the Twitter Tax corridor because of the tax break San Francisco gave to tech companies to entice them to locate in that part of the city. WeWork already occupied the first 11 floors of the building.
The Eviction Defense Collaborative's interim director, Paul Cohen, told San Francisco Magazine that his group is being priced out. The collaborative had reportedly been paying $2 a square foot, and WeWork was prepared to pay roughly $4 for the space, Cohen told San Francisco Magazine.
WeWork, Tenants Together, and the Eviction Defense Collaborative did not return requests for comment by press time, but we will update this piece when we hear back.
Both the collaborative and Tenants Together have found a new home, although not together. To cover the higher rents that come with the move, the groups are hosting an eviction party.
For full disclosure, Business Insider's San Francisco office works out of a WeWork location and this reporter had a free lunch on the startup courtesy of the "Friendsgiving" meal. This location is in a new office building so I also feel good about that.
Read the full story at San Francisco Magazine.