Driving employment creation through multifamily communities

By Homz | August 22, 2022

It’s a notion that suburbs lack the gains of their urban counterparts regarding education and career. But they have not lost their lustre entirely. The population in the suburbs continues to increase at a relatively healthy clip. The recent outbreak may have altered people’s residential choices to err on the side of suburbs, but this growth has been prominent for a while. In fact, recent surveys show that 49% of the U.S. population finds the availability of affordable housing a major problem. The same survey also states that 70% of young adults today have a more challenging time buying a home than their parent’s generation did. All of this makes suburban living an attractive alternative.

Demographic trends may also be a significant factor contributing to the changing fortunes of suburban counties. Recent stats show suburbs growth at opposite ends of the age spectrum, increasing in adults above age 65 and under age 25. But they are losing out to their urban counterparts when it comes to prime working-age adults (those ages 25 to 44) who are increasingly residing in bigger cities.

While multiple factors are at play here, one of the apparent reasons for the reduced vigour of the prime working age could be the lack of lucrative career opportunities.

Turning gaps into opportunities

We at Homz Communities view the surge in suburban growth with the lack of career growth on the flip side as an opportunity to be seized. A variety of factors have set the stage for our integrated community development. And the lucrative outcome from the same is in plenty as well. One such is boosting employment creation. Here’s how.

  • Partnerships with local universities

    Through the collaborative efforts of local universities, we aim to develop 25 entrepreneurial ventures within our communities. This will create a space for young minds to explore their passion or improve upon their talents and find ways to monetize them. These will undoubtedly play a more significant role in the years ahead.

  • New housing units mean new needs

    We plan to build four unique housing units to cater to four different income brackets. This influx of housing units is bound to catch the attention of families looking to shift to the suburbs. This means that local businesses will experience more footfalls in their stores. Ultimately leading to the requirement of more staff members. Apart from the already existing businesses, people who wish to open their cafe, bookstore, or any other venture form will also find it more lucrative to do so.

  • The insertion of private companies

    We aim to build schools, offices, and other utility facilities within our communities and drastically elevate the surrounding infrastructure. This will further add value to the lives of the residents. Once the quality of life improves in the suburbs, people will look at settling here. This growth is likely to attract more private companies, with one’s presence leading to another company’s insertion.

    With these three points, it has been estimated that every 1000 Homz housing units will give way to 900 jobs.

Takeaways

Real estate is one such sector that can add outstanding value to the community in multiple ways like affordable housing, job creation, job readiness, economic growth, etc. Homz, the first national housing company in the U.S., is developing wellness-centric, multifamily communities across the country.

Giving residents of the community, and the town alike, a lucrative quality of life.

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