Popular coworking space The Urban Hive is spending at least $1 million to open a branch at a new 14,000-square-foot facility at The Cannery business park by September.
The space on Alhambra Boulevard will be an upscale expansion featuring brick walls, exposed ceiling and room for multiple events and dozens of startups, said Brandon Weber, founder of The Urban Hive. The Urban Hive chose the location for its proximity to the 29th Street light rail station and nearby dining and parking options.
“We haven’t yet seen this amount of energy, vibe and life we saw here in Sacramento,” Weber said. “This enables us to move on to the next phase. It’s an opportunity to partner with incredible businesses.”
According to the StartupSac website, Sacramento is home to over 500 tech companies and over 37,000 high-paying tech jobs. More than 200 companies, entrepreneurs and consultants are currently based out of The Urban Hive, and the expansion will enable the coworking space to benefit fast-growing businesses crammed into a small space, Weber said.
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The Greater Sacramento Economic Council announced in 2016 its plan to bring another 200 tech startups over the next decade to the region, and its Executive Vice President John Krueger said he believes the coworking space expansion will take the city closer to reaching that goal. According to Krueger, a friendly environment can help startups prosper.
“Places like The Urban Hive provide transition spaces in the market,” Krueger said. “Sacramento is a great place to access finance and talent, and this will get the juices flowing for the startup ecosystem.”