When you look at the housing sector in the United States, you will realize that there is an acute housing crisis. It's mainly because the house rents and costs are increasing, and the wages are stagnant. Also, the sudden pandemic growth has made many people lose their job or made them work on a deducted salary. As a result, a part of the population got evicted and became homeless, and the other section shifted to remote areas and stayed in poor-quality homes. Hence, there is a need for affordable homes for the workforce population.
Low-cost homes can ensure improved living standards
A high mix of the poor people in the community living in poor-quality houses can result in the "sink," which can draw preventable ailments, poverty, and other environmental degradation. It’s not a challenging concept to grasp. There can be either corruption or crime attached to it. However, when that takes place, Maxwell Drever says it’s essential to repair the housing conditions for the labor force.
These distressed hotels can get converted to create homes for the workforce population. The researchers have studied and realized that low-cost workforce housing projects can have vast potential to ensure an improved living condition for all. Today, several experts and authorities have discovered that converting old hotels into affordable workforce living units can assist the homeless and the low-income group to enhance the living conditions and move away from poverty.
Low-cost housing can cater to the increasing infrastructure demands
The other great benefit of fixing old motels and hotels is that it can resolve issues in the communities and enable to cater to the growing needs on infrastructure. Additionally, when the old hotels get converted to low-cost housing projects, there can be an increased ROI, as the buildings are already existing.
It can help save the expense of land acquisition, new construction, and demolition. It can help to cater to the deficit in the low-earning housing by maximizing the construction jobs. Also, it can help create better living conditions for the people at a reduced cost than developing new structures.
The process of the hotel conversion
According to Maxwell Drever, it’s beneficial to opt-in for a 100-year-old hotel to convert it to low-cost housing for the workforce solution. It can enable the reduced-income families to reside in a comfortable, secure ambiance and be close to their required resources. The objective here is to utilize the hotels that are in despair or underutilized. For instance, several hotels in Madison City and San Diego have been vacant for a while, which is fit to get converted. It’s easy to hand it over to the developers because it’s cheap to fix the repairs instead of creating a new housing unit.
Most Americans would want to reside in the urban areas close to their job location. Today, most people don’t have such a housing option. And several might have issues with the high rents and house costs. Hence, the government and other concerned authorities need to look into this aspect and develop more working scopes.
