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A Maxwell Drever Analysis can Change Lives by Converting Broken Hotels into Affordable Housing Estates

The renovation of broken and old hotels through the conversion process is not only a source of revenue, it is also a solution to the problem of the affordable housing shortage. Hotel owners get a chance to change the lives of millions of individuals who form the workforce population. Hence, the conversion process calls for a calculative decision by higher authorities and hotel owners. 

Multiple benefits of workforce housing development

Developing affordable workforce housing comes with compound benefits. It substantially lowers construction costs, provides affordable rent to the workforce population and eases the shortage of affordable housing. On average, more than 6 million units crop up every year in the western world. The apartments coming up because of affordable workforce housing conversion come with several desirable options. These include urban location, comfortable and clean living space, health clubs, swimming pools, luxurious amenities and community space. 

Undertake the conversion

The conversion of old and broken hotels into affordable workforce housing commences with stabilizing the original structure. Preparatory changes are necessary before the conversion starts. Next comes the advent of renovation. Maxwell Drever declares it includes evaluating the property for understanding the present condition of fixtures, ceilings, partitions and mechanical systems. Proper repair of these structures is essential to install the new one without hassle. Items like doors and windows, fire escapes, and ventilation needs detailed refurbishing or repair. Besides, all these processes have to adhere to the current community code to avoid any kind of illegal construction.

In some cases, hotel owners have to frame new insulation and fresh walls after repairing the old ones. More so, there have to be provisions for making the hotel room look home-like. The oven, fridge, TV, and microwave have to have all. The proper finishing of hotel framing is significant so that it attracts individuals. 

Tax credits by higher authorities

Since hotel structures can convert themselves into affordable housing units, the project has to get the support of governmental authorities. The financial benefits for these projects come from financial institutions. Apart from this, tax credits are a necessity for crediting these projects. Policymakers have to develop laws to help the community thrive, asserts Maxwell Drever. Only when they make a healthy society can they increase their municipal revenues. Hence, it is a profitable venture from both sides. 

Since hotel owners have the goal of furnishing affordable workforce housing to the medium-income group, they must be wondering about their revenues. Affordable workforce housing units are a source of stable income for the property owners. Thus, affordable workforce housing is advantageous for the workforce population and the owners. It can change lives and change communities in general. Only a proactive role of different sections of society is necessary to undertake the project. When all people come together to solve an issue, no obstacle can deter them. Joint efforts can bring about a drastic change in society. The more closely people work together, the better will be the results. Community needs collaborative and coordinated efforts. 

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