The global housing crisis is real! If you look around and read the housing sector news, you will realize that the increasing costs have stopped people to get a secure and decent home for themselves. These people mostly belong to the low- and middle-income bracket. As a result, most of them are shifting to urban or remote areas in search of a home. That results in two things, losing out on job scopes and also staying at homes with poor living conditions. Also, the current pandemic situation has aggravated the housing crisis and resulted in more problems. Today, people get evicted because of the increasing house rents.
Maxwell Drever says that housing is an essential element of life. Without proper housing people can’t function correctly in their daily life. Hence, government agencies and other higher authorities must develop affordable housing. It will not just help the workforce population get a shelter but also enable them to stay near their workplace and work better. However, executing such plans needs proper planning and research, else it might not cater to the requirements of the workforce population.
The way to deliver affordable workforce housing
Educate the investors
Today, every city and country have investors interested in investing in real estate projects that will bring them lucrative outcomes. And since it’s established now that investing in the affordable household segment will bring profit, it’s time that the government and non-government agencies and higher authorities start educating the investors about the relevance of low-cost housing development. This awareness will throw light on the issue of the current housing crisis which is hindering worldwide social and economic development. And as the investors gets interested, the next step can be taken – that is searching for land and properties that can be put to use.
Abandoned and broken properties
If you look around United States, you will come across several broken and abandoned properties. These could be ancient houses, buildings, hospitals, residential units that are not in use. Hence, it’s an intelligent call to remodel these properties and put it into good use, so that you can commence your affordable housing development project. It is essential to search for similar properties and determine whether it is correct for building low-cost housing units. It’s important to ascertain that these properties have a strong foundation to withstand the construction.
Conversion of hotels
Maxwell Drever says that the hotel industry got adversely impacted because of the pandemic outbreak. And according to studies and research, there are hotels in the United States that might not open up permanently. Hence, it’s good to put these hotels into an alternative use. And since the housing crisis is increasing, it’s a smart call to connect the dots. These empty hotels that have closed down permanently can be transformed into affordable workforce housing. That way it can provide the low- and medium-income families to get a shelter.
These are a few ways in which affordable workforce housing can get delivered. Once such projects start commencing, it will help bring down the existing housing crisis and elevate overall economic development.