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Business Observer Tuesday, Oct. 1, 2019 2 weeks ago

Ad agency to anchor new co-work space

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Hyde House will open in South Tampa in November with Schifino Lee as a founding member.

TAMPA — Gianco Cos., developer of the popular Station House co-working space in downtown St. Petersburg, plans to open a similar shared office development, Hyde House, in South Tampa in November.

According to a press release, Hyde House has secured Tampa ad agency Schifino Lee as an anchor and founding member. The company — currently based at 511 W. Bay St., near Bayshore Boulevard — says the move will provide significant competitive advantages and help it attract talented young professionals.

“Today’s generation would rather work in a coffee shop than an ivory tower,” states Ben Lee, a principal and co-founder of Schifino Lee, in the release. “Co-working spaces are disrupting the office space industry the same way Uber disrupted taxis and Airbnb disrupted hotels.”

The number of co-work spaces has doubled every year since 2006, according to the release, while the number of co-work members is expected to rise to 2.17 million by the end of 2019.  

For a professional services firm such as Schifino Lee, co-working makes sense because the cost of the space is spread among members. The means employees can access amenities— such as a test kitchen, auditorium, fitness room and more — that are better than what any single business could afford on its own. 

“You only pay for the workspace,” Lee states in the release. “Not entryways, hallways and restrooms.”

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