2019 saw the number of rent-burdened United States households reach nearly 44 million. It’s no surprise then that the lack of affordable workforce housing complexes remains in crisis mode. And the crisis has only deepened because of COVID-19. For this reason, legendary impact real estate investor Maxwell Drever has been working overtime to increase the pace of his broken-hotel into affordable workforce housing projects in development.
Doing Well by Doing Good
As Chairman Emeritus of Drever Atelier Partners. Maxwell Drever (and the entities he has held ownership positions in) can look back upon a career of nearly five decades and feel deep satisfaction that his constant commitment to the mantra “doing well by doing good” has been a success.
As an iconic leader in the real estate industry, Drever is famous for many things. Chief among them must be the repositioning and also the development of nearly 50,000 multi-family apartment complexes and restored troubled communities.
The Angel Inn in Branson, Missouri
In Branson, Missouri, the Drever team recently acquired the “broken” Angel Inn. It will soon be transformed into a luxurious, affordable workforce housing complex named “The Penleigh – Branson Row.”
The former owner of Angel Inn noted in a letter recently made public that he had multiple bids to sell his property for prices far greater than the offer he received from Drever Atelier Partners. He made the less profitable choice and sold it to Drever as a gift of sorts to the city of Branson. The upcoming conversion will be a tremendous asset to his town and its citizens.
Converting Broken Hotels Into Affordable Workforce Housing:
The beginnings of the Covid induced pandemic produced an economic shock that permanently and temporarily erased 21 million + American jobs. By April of 2020, the US unemployment rate reached 14.7%. This was the worst drop since the Great Depression. However, Alongside this number was a National Low Income Housing Coalition report noting that seven million affordable homes needed to be built to meet current demand.
Here comes Drever Atelier Partners.
Drever Atelier Partners has three “broken” hotel/affordable workforce housing conversion projects in development. Also, Each project will result in appealing and affordable workforce housing, sitting in resort-like surroundings, with >800 microunit studios, all priced in the $500 to $600 per month range.
What serves as the driving force behind this Broken Hotel/AffordableWorkforce Housing initiative?
- Lower-income families have the opportunity to improve their quality of life
- Happier lives help restore communities in decline.
- Law enforcement is more effective in restored communities.
- New businesses open, and tax bases increase
- Investment activities from inside and outside restored communities increase
Best Expertise in Converting Broken Hotels Into Affordable Workforce Housing
Maxwell Drever is the nations leading expert at transforming communities through the process of converting broken properties. Drever Atelier Partners also aims to utilize Maxwell’s five decades of acquired experience and unique expertise to ensure their first three projects are only the beginning.