It’s not uncommon to hear a New Yorker say that she lives in a studio converted to a two bedroom, but a studio that converts to eight rooms? That's unheard of. At least until now.

Graham Hill, founder of design studio LifeEdited, is seeking to transform the way we live and the way we think about space all while respecting the environment. “Hill hopes to convince Americans (and anyone else who might be persuaded) that living in a small space with very few possessions is not only greener but also more fun,” Elizabeth Kolbert wrote in The New Yorker. Hill’s test project, called “LifeEdited 1,” is a small studio in New York's SoHo neighborhood. The micro-apartment is equipped with vanishing furniture, sliding walls, hidden storage areas, and multi-purpose appliances. Thanks to these innovative design features, you get a kitchen, a bathroom, two bedrooms, a living room, a dining room, an office, and a library all in 420 square feet!

“We want to design compelling places to live that are really smart financially and really smart environmentally and have a sense of community,” Hill says of his project.

Though the design concept may be very eco-friendly and foster great relationships, the likelihood that these cutting edge apartments will be financially reasonable seems, for the moment at least, very improbable. “LifeEdited 1” will run you $995,000, which works out to about $2,400 per square foot.

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[via DesignTaxi]