The United States is experiencing an affordable workforce housing crisis, and barely anyone know says Maxwell Drever. It’s a problem that severely affects low to middle-income groups who work 35 to 40 hours a week. This group includes firefighters, police officers, cashiers, nurses, shop workers, and teachers. With the cost of real estate rising, many in these groups cannot find adequate housing to call home. The situation only worsened during the pandemic.
And today, we now live in a country that, by some estimates, needs seven million quality affordable homes to meet current demand. Therefore, the need for affordable workforce housing is at an all-time high. As noted above, few know the extent of this crisis. And so, it should not be a surprise that there is a new platform that addresses this issue, requires no governmental support, and can go a long way toward easing the crisis that few know exists
Who’s the Focus of Affordable Workforce Housing?
According to Maxwell Drever, individuals making $15-$30 per hour are the primary targets for affordable workforce housing tenancy. Maxwell should know. His 47000+ repositionings make him one of the most proflic developers of the last half-century. His innovative platform utilizes hotels that closed primarily due to low occupancy issues caused by the pandemic. He converts these hotels to apartments that rent as low as $500 per month and provide resort-like amenities such as pool/spa combinations and state-of-the-art gyms.
What gives a boost to Affordable Housing?
While Maxwell’s affordable workforce housing projects accommodate the lower end of the income scale, this does not mean that higher-earning families should be excluded. It’s all about how much supply he can roll out.
Only particular hotel designs provide the elements to make the conversion work. These hotels must at the very least contain at least 200 rooms, a common area, and a large pool. Maxwell states that investors and developers constantly search for fresh investment ideas with well-planned strategic blueprints. The broken hotel to affordable workforce housing conversion is a blueprint they should not bypass. But he warns that this specific repurposing requires valuable insight, industry knowledge, and specialized experience.
Maxwell explains that being witness to the renovation and revitalization of old properties that ultimately become charming residences, starting at $500 per month is something that will never grow old for him.
Thankfully, multiple factors are finally attracting investors, developers, and the workforce to affordable workforce housing. Many are beginning to realize that this may be one of the most well thought out real estate platforms ever. We can only hope that this trend continues.