The housing crisis in the United States has been prominent for a while now. Many households lack a decent job with proper earning because they can’t afford a safe and secure living says Maxwell Drever. Some of these sections of people are homeless, and some reside in places that are not in the best condition to live. Similarly, there are people who have to spend more than 30% or 50% of their total earning on their rent. And that eventually leads them to have a poor lifestyle and health concerns. However, if you look at the extreme outcome, they often have the threat of getting evicted. Hence, it is essential to address the housing crisis and convert old and broken hotels into affordable housing units so that these people can find shelter and live in a secure environment.
What made Drever and Galen master the conversion process?
The pandemic has hurt the hotel industry massively. And the recovery might take two or three years of time. Similarly, there were talks about refurbishing the old and broken hotels back into existence, which has taken a back step because of the economic downswing created by the pandemic outbreak. Hence, Maxwell Drever says that one of the best possible uses of such hotels was to get converted to living spaces and accommodation units for those who can’t afford a home at a reasonable rent. This initiative will go a long way in solving the housing crisis that the United States and American households have been facing for a while.
Today, hotels in Madison city and other places are getting converted into residential units that is allowing needy and deprived people to obtain shelter. And here Drever and Galen has been sealing the deal for many such conversions. Because of their market insight and expertise. Such conversions aren’t as easy as it sounds. It requires sound market know-how and good perspective that has been helping the hotel owners seamlessly. Convert their properties into an affordable workforce housing unit.
The crucial elements of the conversion process
First and foremost, hotel and other such property owners need to conclude. That the best use of their property in the current scenario is to get transform it into an affordable workforce housing unit. After, that they need to hand over their property to an expert developer. And real estate group to get started with the process.
Here people like Galen and Maxwell Drever can come to help. They have effectively guided hotel and property owners on how to go about the conversion process. For instance, one of the essential aspects to consider in the conversion process is aesthetics. The way a hotel looked as a lavish accommodation for travelers and tourists will have to change drastically. When it becomes a residence for low- and middle-income families. These people would require a stable house. Instead of a lavish room and the basic facilities to thrive as a community. These thoughts and perspectives can help make a difference in implementing a successful affordable housing project.