Rebel Investissement has emerged as one of Québec’s leading co-living developers and operators, bringing a fresh perspective to shared living spaces. The company’s innovative approach combines traditional multifamily elements with modern community-focused design.
Green Street News sat down with Rebel Investissement founder Jean Charles Goyeche to discuss the contrast between co-living spaces and traditional residential assets, and explore investor perception of Québec co-living developments. Goyeche also touched on Rebel’s partnership with the Future of Hospitality Institute on their Future Living research project — a collaboration between various serviced residential providers across seven countries.
What market indicators led Rebel Investissement to prioritize co-living over traditional multifamily development?
Our decision was driven by compelling demographic shifts in Québec. Statistics Canada data shows that 47% of Québec households are single-person occupancies, compared to 43% nationally. This represents a significant mismatch with our existing housing stock, which predominantly consists of larger units designed for families.
The pandemic actually reinforced our conviction. While lockdowns highlighted the challenges of isolation, they also demonstrated the powerful appeal of controlled social interactions within residential communities. We saw an opportunity to create living spaces that balance privacy with connection. There’s also a strong economic rationale. Shared amenities like laundry facilities and kitchen appliances are typically underutilized in traditional apartments. Our model optimizes these resources while creating natural gathering spaces that foster community.
How does your recent collaboration with Future Living align with your vision for the future of co-living?
Future Living is more than just an international collaboration – it’s part of a global research network that’s reshaping how we think about residential spaces. We’re seeing fascinating innovations, like a project we visited in Florence that seamlessly blends hotel, student housing and coworking spaces. The collaboration has particularly influenced our approach to common areas. For instance, we’ve completely reimagined laundry rooms based on sociological research. By adding simple elements like ping-pong tables and “lost sock” sections, we’ve transformed utilitarian spaces into social hubs. It’s not about lavish amenities – it’s about thoughtful design that encourages natural interaction.
What metrics do you use to evaluate co-living asset performance versus traditional multifamily returns?
We focus on three key indicators: rentable square footage, turnover ratio and energy consumption per tenant. But beyond these traditional metrics, we’ve developed specialized operational approaches that drive performance. Our background in hospitality strongly influences our management style. We view residents as clients rather than tenants, which fundamentally changes how we approach service delivery and community engagement. This philosophy has proven particularly effective in our market.
How have you structured operations to optimize efficiency within Québec’s distinct regulatory environment?
We’ve taken a vertically integrated approach, handling both marketing and operations internally. This specialization allows us to be incredibly responsive to resident needs. For example, when residents expressed interest in wellness programs, we quickly adapted spaces to include yoga facilities and brought in wellness practitioners to join the community. We conduct regular surveys and maintain open communication channels with residents. This feedback loop has led to unique amenities, like community gardens where residents grow and cook together. It’s a stark contrast to the detached, purely financial approach often seen in traditional multifamily management.
What structural changes do you anticipate as institutional investors enter the co-living space?
The increasing institutional interest will likely drive larger-scale developments and stronger emphasis on ESG metrics. However, we believe the environmental and governance aspects shouldn’t overshadow the social component, which is fundamental to co-living’s success. Those who manage the spaces require specialization, as would senior living. It is certain that as we grow, institutional investors will take an interest, but it remains that the management of these properties will likely remain contracted to private sector managers, like us.
Our experience shows that well-managed communities create their own momentum where satisfied residents become advocates, attracting others to the lifestyle. Looking ahead, we expect today’s co-living residents will raise children who naturally gravitate toward community-oriented living spaces, creating sustained demand for this asset class.
