Workforce Housing
Everyone needs a place to live.
Workforce housing is generally needed by individuals or families who are employed in essential service industries, such as teachers, nurses, firefighters, police officers, retail workers, hospitality workers, and other low- to moderate-income workers. These individuals often face challenges in finding affordable housing in areas where they work due to rising housing costs and limited availability.
Why is Workforce Housing Necessary?
- Affordable housing for essential workers: Many essential workers earn moderate incomes that may not be sufficient to afford market-rate housing in certain areas. Workforce housing provides them with affordable options, enabling them to live near their workplaces and reducing financial burdens.
- Economic development: Workforce housing is essential for attracting and retaining a skilled labor force in local communities. When workers can afford to live in the areas where they work, it helps businesses thrive, promotes economic stability, and fosters community growth.
- Employee retention and productivity: Access to affordable housing plays a crucial role in employee retention. If workers cannot find affordable housing near their workplaces, they may choose to relocate to areas with more affordable options, leading to high turnover rates and increased costs for businesses. Workforce housing helps businesses retain skilled workers and enhances employee productivity.
- Community services and continuity: Workforce housing supports the continuity and quality of community services, such as healthcare, education, public safety, and hospitality. When essential workers can afford to live near their jobs, it ensures the availability of these vital services for residents.
- Diversity and inclusivity: Workforce housing promotes diversity and inclusivity within communities by providing housing options for people with different income levels. It helps create balanced and vibrant neighborhoods where individuals from various socioeconomic backgrounds can live together
The Opportunity
We are looking to support lower income members of the community that need housing options that are priced at a fair amount and that provide basic needs to shelter and habitability for a family.
Our plan is to develop townhome communities with little to no common area amenities and focus on comfortable interior improvements.
We will price each unit so that it is affordable in the local market and it will deliver a substantial return to our investors.
Everyone involved will be grateful for the participation and contribution.