Workforce housing apartments or residences are best for those earning low to medium incomes. Most who fall into this category should be earning 60% to 120% of their area median income. Workforce groups who have historically fallen into this category include police officers, health care professionals, and teachers.
Workforce housing focuses on improving the living standards of these groups for their professional and social well-being. Besides public employees, young professionals, workers in the construction trades, retail salespeople, office workers, and service workers benefit from the workforce housing platform. As a whole, these workers play an essential role in society, and it is our responsibility to ensure that they can afford to live near their workplace.
The real estate price and inflation increases that began before the pandemic (and have only increased) make it difficult for low-income groups to find affordable homes for rent.
All that said, the frightening news is that in the United States, there is currently a seven million unit affordable workforce housing shortage.
Long time impact real estate investor and developer Maxwell Drever is well aware of this problem and has developed a “broken” to affordable workforce housing initiative. He currently has three developments in various stages of progress. Other developers with specialty expertise are devising their own innovative solutions.
Benefits of Workforce Housing
The following sections list the benefits of workforce housing that all Americans should know.
Higher Community Involvement
Workforce housing allows professionals to become productive members of society and contribute to the community. The platform helps strengthen the fabric of our society as a whole.
Those who possess the qualifications to live in workforce housing developments have the freedom to choose where they wish to live. They also can stabilize and then revitalize neighborhoods where the quality of life has become sub-optimal.
Traveling from workforce housing to the workplace takes minutes, not hours
Living conditions are one of the primary reasons why most workforce want to migrate to other states. Providing these groups with workforce housing creates opportunities for employers to stabilize their workforce and for the workforce to stabilize their life and the lives of their families. The key here is stability, a primary tool for creating stable and happy lives and communities.
Save time, fuel, decrease traffic congestion, and help the environment
Workers need to invest a lesser amount of their resources when they can live close to their workplace. It helps fine-tune living standards, improve productivity, and protect the environment.Average traffic decreases when the essential workforce, including police officers, teachers, and firefighters, all live in the same neighborhoods. Decreased traffic helps lessen environmental pollution and promotes better quality standards of living.
Checking in once again with expert Maxwell Drever, he has been hard at work telling all who will listen about his solution. His five decades of success mean we should all listen to what he has to share.