MetroSpaces, a proptech pioneer that’s powered by Dallas-based Shokworks, is creating a new HQ2 in Deep Ellum and bringing on executive hires to support it.
New York-based MetroSpaces will be co-locating at 2904 Commerce along with Shokworks, a tech firm that helps companies go digital-first, and its real estate partner, ELEV8 Locating. The 3,000-square-foot space is set to open in the next week.
“The reason we’ve chosen to set up HQ2 in Dallas is the proximity to all the new tech innovation in North Texas, including working alongside our tech partner Shokworks,” MetroSpaces CEO Oscar Brito says. “This is a great hub for our co-living platforms because of the amazing real estate opportunities here and in second-tier cities nearby.”
Initially, Shokworks plans to have around 10 to 20 members of its team in the space before the end of the year. Shokworks CEO Alejandro Laplana told Dallas Innovates ELEV8 will assist in growing the company’s footprint both in terms of square footage and staff through 2022.
“We see Deep Ellum as an emerging business community, kind of like Brooklyn 10 years ago,” he says. “I love that not only are we seeing businesses move to the area, but that it offers a vibrant lifestyle to live, work, and play.”
MetroSpaces hires a CFO
MetroSpaces will also be growing its North Texas teams, starting with leadership.
The first major hire is Steven Plumb, who has been brought onto the MetroSpaces team as its new chief financial officer.
Plumb was most recently the CFO of private medical device company Artella Solutions. Prior to that, he served in a similar role at DirectView Holdings Inc., ProBility Media Corp., and Bering Exploration Inc. He was also a former auditor at PriceWaterhouseCoopers and KPMG.
“Steven has an amazing reputation as a financial leader and brings so much relevant experience to MetroSpaces as we grow,” Brito says. “His work as CFO with tech-forward companies coupled with his big four experience make him a great partner for our current and planned financial goals.”
Brito also chose California-based WWC as MetroSpaces’ auditor, a forty-year-old firm that he says has an impressive track record in PCAOB and Sarbanes-Oxley audit environments. He also hopes to re-list with the SEC following the next audit season.
Brito originally expected to fill the CFO role during Q1 of next year, but MetroSpaces’ business, investments, and operations have grown faster than he anticipated, he says. That’s mainly due to a few recently announced major initiatives.
As part of MetroSpaces’ digital evolution from a luxury real estate developer into a proptech that leads technological transformations in the real estate market, the company partnered with Shokworks to rebrand and launch two proptech developments.
Tech-enabled co-living properties for digital nomads
Planned for launch in Q4 of 2021 is MetroCrowd, a blockchain-powered co-living platform from MetroSpaces and Shokworks which will allow for the tokenization of a real estate portfolio. The goal is to make the investment process more transparent and accessible.
Rather than acquiring an entire space, the platform will offer future token buyers an opportunity for outsized returns with small investments—thus helping to capitalize the venture.
“We use standard token offerings to provide investment options to retail investors outside of the U.S.,” Laplana told Dallas Innovates. “We’re reducing barriers to transaction and to entry with AI-based tools for contract interpretation. So we want any person to be able to buy a fraction of a property, anywhere in the world.”
A newly acquired Houston office complex will be part of the soon-to-be-released MetroCrowd.
Metrohouse will “redefine the co-living world”
Last month, the pair also unveiled its plan to “redefine the co-living world”: MetroHouse.
Infinity View Villas is a high-end development in the Dominican Republic that will house nine villas, a 4,000-square-foot home, and a members-only rec space. Phase one’s completion date is set for mid-2022.
Laplana describes it as “WeWork meets Soho House.” As the Dominican Republic continues to holds its status as a first-class destination for high-end nomadic digital workers, Infinity View Villas will act as a place for them to work and live together through exclusive means.
The living space will come with pre-vetted roommates and a lodging style designed to fit residents’ needs. It opens up the possibilities for people to spend three to six months in a country they love, without necessarily choosing to take ownership in those places.
More luxury residential destinations are to come, all for working travelers looking to build, support, or lead a company from anywhere on Earth.
“Younger generations have flocked to co-living as a way to live smarter and more efficiently,” Brito says. “MetroHouse is the perfect partner for an urban professional seeking to either monetize their existing real estate investment or find a unique leasing opportunity.”
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