A growing population, inflation, and an increase in the price of all forms of real estate have hit middle-income America hard says Maxwell Drever. As a result, many who once sought luxury are now looking for simple, well-kept, comfortable, and low-cost housing, equipped with basic amenities.
Let’s use for example middle-income groups such as technicians, nurses, educators, and firefighters. As a whole, these groups are more likely than ever to be interested in something a bit more simple than traditional workforce housing. This desire for simplicity makes them candidates for Affordable Workforce Housing spaces that are situated near where they work. As the term, Affordable Workforce Housing is newer than traditional workforce housing. Let me share an explanation so you can better understand the concept behind it.
Affordable Workforce Housing Defined
Technically speaking, traditional Workforce Housing refers to the residences of individuals that earn 60% to 120% of the area’s median income or (AMI). This type of housing is generally for workers with medium income. Affordable Workforce Housing offers the same benefits and uses the same AMI calculation. The difference is in the targeted – which in this case is low-earning families.
Maxwell Drever and his Broken Hotel to Affordable Workforce Housing Concept
Maxwell Drever, the legendary impact real estate investor and affordable workforce housing innovator has made invaluable contributions. In optimizing the concept of Affordable Workforce Housing. He believes that Affordable Workforce Housing is an effective solution for many of today’s housing problems. Most especially the shortages that currently exist for the lower-earning sector. The secret sauce for Maxwell’s platform can be found in what he calls ‘broken’ hotels with attractive amenities. These mostly closed hotels have become plentiful due to the low occupancy rates. That the hotel sector experienced during the pandemic. Maxwell’s platform transforms these hotels into beautiful Affordable Workforce Housing complexes. Accordingly, he hopes and believes that spaces like these will become more popular in the very near future. And indispensable assets for problems that lurk in the near future.
What is the Significance of Affordable Workforce Housing?
A shortage estimated at seven million affordable dwellings exists in the United States. The result of this growing crisis. 1) a growing population of individuals and families spending more on housing than the recommended maximum 30% of total income. 2) the potential for widespread homelessness if the affordable housing problem cannot address. In Maxwell’s opinion, the next economic downturn can easily create a homeless problem. The likes of which have not been experiencing since the great depression. With enough affordable workforce housing, he believes this problem can behold in check.