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You are here: Home / Residential Real Estate & Developers / Convert hotels into affordable housing units, as propounded by Maxwell Drever

Convert hotels into affordable housing units, as propounded by Maxwell Drever

May 20, 2022 by Post

The problem of homelessness is not something new but has grabbed due attention in the post-pandemic scenario. The worldwide pandemic has resulted in a severe blow to the economy and affected every section drastically. Various national and state governments are working with non-governmental institutions to help this sector struggling with homelessness. 

If you look at the western world, you will see that people are experimenting with their erstwhile and vacant properties to become transfigured into temporary apartments for the homeless individuals. Some policymakers look at it as a chance to take advantage to help struggling hotels grab some profit from the conversion process. However, the process is not that simple. There are multiple factors to bring under deliberation to ensure that the conversion process goes on smoothly to reap the benefit. 

  • The post-pandemic discovery

New housing policies are underway to transform hotels into places of housing constantly. It reflects a significant aspect, which is the role of a shelter. If you look at the 19th and early 20th centuries, Maxwell Drever says you will see that the distinction between hotels and housing was not clear. 

Today, people use hotels for their short-term vacations and other requirements. However, the long-term use of hotel rooms is a new approach grabbing significance. By taking the help of robust regulatory requirements and housing policies, governments are trying to introduce new features to ensure quality living. 

  • What’s the role of the neighborhood? 

The neighborhood plays a vital role when transforming a hotel into a residential unit. It is the correct aspect to bring under consideration. Remember that better places have the chance of grabbing more traffic because of their transit accessibility and proximity to service and job location. Remember that residences in faraway places cannot get guests because of the commute time. Hence, policymakers are trying to shield the hotel business in the urban city centers by relaxing the zoning protocols and preserving the vibrancy of their enterprise. 

  • Then and now: how hotels have transformed

Governments have introduced a new trend by altering land-use restrictions and housing policies to develop hotels into residential units. Maxwell Drever states they are trying to motivate the hotel owners and landlords to reconsider their properties and transform them into appropriate residential units by submitting new building codes and initiating municipal corporation policies. By altering current zoning protocols, commercial buildings like residential and hotels are treated differently. 

The striking balance between the public and private sector reaps benefits for hotel owners. Remember that people are trying to boost minimum standards to ensure better living and move up the social hierarchy across the world. To limit the problem of homelessness, the housing market has changed drastically. 

The hotel to housing conversion has become the new trend. The need of the hour is the smooth flow of revenues to ensure that eligible projects get accomplished on time. Remember that every hotel is not suitable for conversion. Hence, the hotel owners must qualify for these grants and initiatives to bring the necessary results. 

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Filed Under: Residential Real Estate & Developers, Tips, How to, Trends Tagged With: Maxwell Drever

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