The 30% rule, achievable by fewer Americans every year can be retaken, all because of the miracle of Affordable Workforce Housing says Maxwell Drever. The engine behind this miracle is a certain type of hotel, generally, 200 rooms or more, that has closed for financial reasons. The building is structurally sound and has formerly beautiful amenities such as a pool and a gym.
It is quite likely that the owner of this closed hotel thought his single-use building was worthless. And would have to be taken down at some point. Imagine the smile on his face when it was discovered. That because of a new Affordable Workforce Housing platform, his building was actually worth money. And that the market value of his property was now 50% higher than expected. The closed hotel to affordable workforce housing platform works. Because the 50% extra the owner received allowed an affordable workforce housing complex. To be built for half the cost of new construction!
The bad news, the good news, and the great news
The bad news is that In the United States. There is currently demand for seven million clean and functional apartments with affordable rents. The good news is that because of the closings of so many hotels during the pandemic. There is a way to build millions of apartments that sit within affordable workforce housing complexes. The great news is that if you happen to be one of the lucky tenants in a Drever affordable workforce housing development. Your rent will be in the $500 to $700 per month range, the pool you swim in will be spa-like. And the gym you work out in will be fully decked out.
Life is better when you live in a Drever complex.
Affordable workforce housing complexes developed by Drever Atelier partners follow patriarch Maxwell Drever’s favorite term – doing good by doing well. What does this mean for a Drever tenant? It’s likely that this means their building will treat its tenants like family..
Community is what affordable workforce housing is all about. It creates longevity in that it provides incentives for employees to stay with their companies longer. And provides incentives for those same companies to treat their employees with respect, as a family in a way. The community takes part in this experience at well. It is hopefully well managed and works to know its citizens and their needs. And its tenant (the company) and their needs.
The brilliance of the closed hotel to affordable workforce housing platform is in the many synergies it creates. One element worth note is the improved quality of life. So many families experience living together in a wonderful space. In a nice community where they’ve made wonderful friends. It creates happiness, and that is what life is all about