Affordable, decent housing is significant for every family. Suddenly it is one of the basic needs of human beings after a pandemic says Maxwell Drever. It contributes to the health and well-being of children and parents. Studies reveal that children grow better in stable housing and do not experience disruption in their growth and education resulting from unwanted moves.
- Affordable, decent housing reduces toxins, stress, and infectious disease.
- It thereby leads to improvement in mental and physical health.
- However, there is a short supply of affordable housing because of the economic crunch resulting from the post-pandemic scenario.
- Undertaking a new construction is not that easy.
Hence, hotel owners and property landlords are trying to repurpose their housing units into residential properties to ensure a better supply of affordable housing.
Why affordable housing?
To upgrade the economic vitality of the community, affordable housing is significant.
By revitalizing the community, affordable housing stimulates economic growth.
- Affordable homes retain and attract employees to the community and benefits aspects.
- Affordable homes support local workforces and help them stay close to their job location.
- The short commute time and the reduced transportation expenses help families grab the benefit from these estates.
- Maxwell Drever acknowledges that it also reduces traffic congestion, expenditure on traveling, and air pollution.
How do you repurpose hotel rooms?
Rental homes cater to the needs of various families. To meet the diverse requirements of the community, both homeownership and rental housing are significant. Hence, rental homes are a financially realistic choice.
For moderate and low-income families, the high cost of houses is beyond their affordability. In this scenario, hotel owners and property developers have tried to develop a new approach. The new system is repurposing their vacant properties into residential units. By transforming these empty rooms into lifelong rental apartments, they procure revenues and cater to the community.
Time to take action
For transforming hotel rooms into residential units, collaboration between government and private institutions is necessary. Affordable housing options require a smooth flow of revenues. Hence, Maxwell Drever opines that the government must initiate housing policies and programs to motivate this conversion process. For various working families, homeownership is far from their reach. Thus, when hotel rooms are repurposed into residential properties, they get a shelter near their job location.
When converting hotel rooms into residential properties, introducing basic amenities is necessary. Hotel owners must work with professionals to develop an overall layout of the room and introduce features to make it more home-like. Studies reveal that hotels with a home-like atmosphere have better chances of gaining affirmation. Hence, if you look at it from the community perspective, hotel transformation into affordable housing provides stability to the neighborhood and economic prosperity.
It is a worthwhile investment avenue that every section of society must explore. When people come together to fight homelessness, no problem remains unattended. A proactive approach is necessary to curtail the menace of eviction. The community needs to grow with the concept of affordable housing; otherwise, it will become stagnant.
