Unfortunately, around 44 million Americans struggled with the high price of housing in 2016.
And, a lot of local governments and builders don’t have it easy finding affordable shelters for those with lower income.
But, thanks to this interesting and useful solution, a major difference is being achieved.
Namely, similar to reusing and recycling and its benefits for the environment, adaptive reuse transforms old hotels and makes them affordable housing for the population.
One good example of this practice happened in Branson, Missouri. One hotel, known as the Old Days Inn, has been empty for more than 8 years.
Now, it has found life again thanks to this noble construction company.
Los Angeles Is Trying to Create Affordable Housing
One construction company in Los Angeles bought the hotel and several other similar hotels and transformed them into affordable homes for people with lower income.
They made studios and one-bedroom apartments that can be rented for $495 to $695. The housing is also upgraded with a lot of amenities people need on the daily.
Richard Rubin who is the founder of Repvblik, began these conversations in his country in South Africa and believes that the prices of the renting are a good price range for people not poor enough to get subsidized housing.
Affordable doesn’t mean the property is barren-on the contrary, a project known as the Plato’s Cave has freshly-painted walls, amazing utilities, as well as amenities like basketball court, TVs, air conditioners, gyms, and wooden floors.
Robin understands the growing need for affordable housing and he’s doing his best to push these projects through without any federal funds.
He has struggled finding investors to write big checks for old spaces and then sell them cheaply to people with lower income; however, investing is still alive and Repvblik is currently the owner of 2000 such units and he hopes to reach 20,000 in a couple of years.
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