Everyone knows about the adverse impact of the pandemic outbreak on the world says Maxwell Drever. It has resulted in mass infections and caused several deaths. It has also given a big hit to the commerce, economy, and global business domain. However, it is essential not to admit failure at the face of this crisis and to arrive at a solution to some of the potent crisis that the pandemic gave birth to.
The housing crisis in the United States is not an outcome of the pandemic. However, it certainly got worsened by it. Due to the pandemic, people lost their job and the chance to earn, which made them move away from their houses in urban locations and shift to shoddy homes in remote areas. That aside, some people have been compelled to sleep on the streets as well. Similarly, the hotel industry was also negatively impacted because of the pandemic. Since there was a reduction in global travel, hotels across the United States have been witnessing low to zero occupancies, resulting in an immense loss.
Fortunately, the global vaccination drive and the advent of the booster dose have provided some relief to the hotel industry. Some hotel properties are back in action, and they hope to revive better in the next two to three years. But certain hotel branches don’t have a scope to get back to operation in the near future. And it is these hotels, Maxwell Drever says, that are getting converted into affordable workforce housing spaces to provide shelter to the ones who need it the most.
The process of hotel conversion that works
It might sound like good news when you read about hotels getting convert into low-cost housing systems for the workforce population. But the conversion process demands time, efficiency, and impeccable planning. Here’s how to go about it.
Target the workforce population section
The people who need shelter in the United States can be divide into two categories. First are the homeless people, and second, the low-earning families searching for affordable accommodation in a place close to their work. The hotel owners must know the target community that they will be catering to, to plan the conversion in a seamless way. It will be of help to learn the needs of both these categories of people.
Get the necessary permissions
Converting a property into a low-cost apartment will need specific permissions. It’s essential to seek the required approvals to avoid roadblocks during and after the conversion. It’s also essential for hotel owners to cater to particular area-specific regulations.
Get an expert team on board
Maxwell Drever says that hotel owners need to team up with reputed investors, architects, designers, real estate agents, non-profits. And the like to make sure that they have the best brains in the business in the execution of the project. It will ensure that they have access to the best ideas and guidelines to use in the development project.
These are some of the important ways hotel owners can convert their properties into affordable housing units.