SARASOTA, FL – Employers in the Sarasota-Manatee region have been encountering an ongoing problem for a number of years: a drastic shortage in local housing options for their employees.
As a result of low housing supply, hospitals, schools and private businesses have reported great difficulty in retaining and recruiting workers. The issue is curtailing financial growth and is forcing many companies to increase their options for remote and temp work programs as entry-level mid-management positions remain unfulfilled. This is due to the fact that many applicants are unable to find local living options, and the few that do exist are often unaffordable due to the intense demand, many say.
That being said, to address this issue many Sarasota-Manatee companies are turning to a new proposal by local builder One Stop Housing known as “employer-supported housing,” a program that area business leaders believe could become a nationwide model in markets encountering similar issues.
Employer-supported housing involves employers getting involved in supplying housing for their employees by teaming with local developers to construct communities similar to modern big-tech campuses or the company towns of yesteryear. These communities would provide homes for workers in addition to onsite childcare and access to retail shopping, dining options, medical facilities, and transportation to and from their jobs.
Employers would invest the capital needed to construct these housing communities, with local developers building and managing the properties; the end result, experts say, would prove to be a very real solution to the housing crisis plaguing the Sarasota-Manatee area, in addition to providing an investment for employers that would accrue in value and provide income by means of the rent and/or mortgage payments collected.
The overall business scene in the region – in addition to the local economy – would benefit as well, as employers would have a much easier time attracting and retaining workers, especially those at high level positions, enabling growth and expansion that many say have stagnated due to the current lack of housing.
According to One Stop Housing, the employer-supported housing proposal starts in Manatee and Sarasota, with plans to take it to other areas in the future as well if the concept proves successful.
Florida Gulf Residential specializes in the areas of Sarasota, Siesta Key, Bradenton, Lakewood Ranch, Longboat Key, Venice, Palmer Ranch, Osprey, Anna Maria Island and other Gulf Coast communities. Feel free to give us a call at (941) 304-1975 so we can answer any questions you may have.
Christopher Boyle is an investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher helps keep a keen-eye on what’s happening on the West Coast of Florida on behalf of FLORIDA GULF RESIDENTIAL – Your Real Estate Expert for Sarasota and Surrounding Areas.