Housing shortages hindering business growth may be reduced through employer participation in workforce housing development projects

CENTENNIAL, COLORADO, UNITED STATES, July 20, 2022 /EINPresswire.com/ -- Housing O2 LLC is collaborating with employers in different communities to develop new workforce housing. Employers partnering with Housing O2 LLC may use the prospect of housing and home ownership to recruit new employees and retain existing employees. This powerful combination will enable business to grow and communities to recover from COVID.

Karl Dakin, Chief Executive Officer of Housing O2 LLC, stated, “In community after community that we have talked with, employers and community leaders have shared stories of businesses who could not complete a hire because there was no local housing or new employees who quit because they could not find housing for their families.”

Housing O2 LLC has introduced the first in a series of home ownership programs for workers that makes use of the creditworthiness of employers. While low-income workers may have little or no creditworthiness to support buying a house, their employers commonly do. Housing O2 LLC has crafted a program where housing is pre-sold to employers with later resale to their employees. This program creates an investment security with a reduced risk that makes it attractive to investors who would otherwise consider workforce housing as speculative.

Employers are offering higher wages and hiring bonuses to gain new workers. Intuit suggests signing bonuses of 5% to 10% of annual wages. While this approach has seen some success, such approaches raise the cost of labor without improving productivity or assuring long-term employment. These approaches have far less impact than a promise of quality rental housing with ownership potential. The Urban Institute advocates for employer assisted housing to “support their workforce and the local economy.” The Housing O2 LLC program offers employees a five-year retention bonus in the form of a down payment on purchasing their housing that may equal 50% to 75% of annual wages.

Alternative home ownership programs are being developed for seasonal (resort), nomadic (agriculture, sports teams) and on-call (first responders, healthcare) workers and small business owners. It is anticipated that ownership will be ‘tokenized’ resulting in a shared security ownership interest in a business that holds title to a single family or multifamily residence or in a mixed-use building. Like investments, ownership structures may be stacked with different pricing, duration and eligibility requirements.

The concept of employer arranged housing is not new. However, the concept of ‘company towns’ where employers took advantage of their employees has left a stigma that has continued for decades. Employers can now help themselves by equitably helping their employees.

Employers may participate with Housing O2 LLC without requirement of a cash commitment, or they may invest alongside of other investors and earn a return on their investment in addition to obtaining incentives to hire and retain workers.

Housing O2 LLC is engaged in the development of workforce housing projects to provide needed housing for full-time, low-income workers and enable local communities to recover from COVID. Interested investors and business partners may contact Housing O2 LLC to discuss whether their goals match with workforce housing development projects.

Karl Dakin
Housing O2 LLC
+1 7202960372
kdakin@dakincapital.com

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