The Best Practices for Assessing Whether a hotel is Good to Convert into an Affordable Housing Unit – Maxwell Drever Shares Valuable Views.
Today, it is evident from the social living conditions in the United States that the housing crisis has become worse. People living on the streets or in poor homes is never a good sight. Additionally, when people don’t have a safe home, they don’t have the essential requirement for safe living. And the pandemic has accelerated the housing crisis even more. As a result, today, initiatives are being taken to provide the homeless with a home. For this, there is mass conversion of a hotel and vacant properties into affordable workforce housing.
This phenomenon is taking place because the pandemic has adversely affected the hospitality industry globally. And one of the best ways that hotel owners think they can profitably use their properties is by transforming them into low-cost accommodation units. Maxwell Drever says that before one starts this project, it is essential to check whether a property is apt for this project or not.
The Best Evaluation Practices to Follow by Hotel Owners
A hotel and a house get built differently. Hence, when a hotel is considered to be remodeled as an affordable housing unit for the homeless and low-income families, it has undergone a 360-degree change. That means it needs to look at the basic needs and eliminate the element of lavishness that most hotels have. But before that the developers and the real estate companies should assess whether a hotel is perfect for this conversion or not. Here are few best practices that hotel owners should follow.
1The hotel location is crucial
If the objective of the conversion is to provide a home for the workforce, then it is essential to check the location of the hotel. If the property is located at a distance close to the workplace where the workforce works, the property has fulfilled one of the best criteria for the conversion. Usually, the workforce has to search for affordable homes away from the city, leading to increased commute time. If they stay at a place close to their workplace, it will result in an easy commute and help increase their productivity at work.
2The robustness of the property
There are several reasons why a hotel has become redundant. However, it is essential to test the robustness of the hotel before the conversion takes place. The same holds true if the conversion is taking place in a broken or old hotel. It’s mostly because these properties haven’t been into use for a long time. Hence, there can be a need for minimal upkeep and repairs. However, it’s essential to check whether the property is structurally weak. If yes, then it’s best to opt-in for another property.
3Work on the changed look
Maxwell Drever says that a hotel must completely change its look to function as an affordable workforce housing unit. Hence, it’s essential to appoint expert architects to focus and work on the new look and try to make it relatable. It will help the people who live there resonate with it better.
When hotel owners and developers follow these best practices, they can assess whether a hotel is apt for getting converted to an affordable housing unit.