Urban Co-Works has grown again in downtown Schenectady, leasing nearly 1,900 more square feet of space inside its Franklin Street headquarters. The expansion added nine private offices to the coworking company's home base, bringing its footprint there to 46 offices and nearly 15,000 square feet.
The company agreed to lease an additional 1,859 square feet at 430 Franklin St., according to Spraragen Partners, which owns the building known as The Benjamin. The Franklin Street location now has 46 private offices and nearly 15,000 square feet of workspace.
Founder and CEO Jeff Goronkin started Urban Co-Works in Schenectady in 2017, and the company has since grown well beyond the Capital Region. It now operates in Scranton, Pennsylvania, and Holyoke, Massachusetts, in addition to its original Schenectady home, Spraragen Partners reports. As The Daily Gazette has also chronicled, the company is headquartered on Franklin Street in downtown Schenectady and now counts three Northeast locations.
A Growing Footprint Across the Northeast
Urban Co-Works opened its second location in Scranton in November 2023, according to the company's own account on its Urban Co-Works website. Its third coworking location followed in February 2025 in Holyoke, in what the company describes as a bustling retail area of Western Massachusetts.
That Holyoke space includes 55 private offices, three meeting rooms, an event area with a full kitchen, and a coworking section with 20 workstations, according to the Greater Scranton Chamber. Back in Schenectady, the amenities read similarly familiar: meeting rooms, a training room, coworking space, phone booths and common areas, per Spraragen Partners. The company's office users span entrepreneurs, remote workers, nonprofits, startups and established businesses who rent daily or monthly, the same source notes.
Demand Outpacing Supply in Smaller Markets
The Schenectady expansion arrives amid broader momentum for the coworking industry nationally. The U.S. coworking sector grew 2.7% in the second quarter of 2026, climbing from 9,136 to 9,384 locations nationwide, according to a report from CoworkingCafe. Square footage rose 1.5% over the same period, even as the average space size dipped 1.2% to 17,728 square feet, the report found.
CoworkingCafe's data points to a shift away from major metro areas: growth is increasingly concentrated in second- and third-tier markets where demand still outpaces supply, with those markets expanding through leaner, community-minded offices. The Northeast alone held 1,419 coworking locations in the second quarter of 2026, compared with 1,114 in the Midwest, the report notes. Urban Co-Works has previously said it was forecasting additional Northeast locations over the following few years, a projection the company made in a January 2023 announcement tied to its Scranton debut.
Goronkin Sees No Slowdown Ahead
Goronkin, for his part, has said he does not see a cooldown coming for the coworking market. There is not going to be any significant cool down in the market for coworking space, he told the Schenectady Metroplex Development Authority. He added that companies are not going to back regular schedules, so that makes it a big opportunity for the flex office market.
Urban Co-Works currently ranks as the 10th-largest coworking facility in the Albany region, according to the most recent Albany Business Review List cited by Spraragen Partners. The Franklin Street location now has 46 private offices, and the company's footprint in its hometown has grown.
