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Redburn Development on How Workforce Housing Is Gaining Strength as an Investment Class  

More than 44 million housing units are renter-occupied, representing the highest number of renters since the 1970s, according to market data and statistics portal, Statista. The number of Americans who are renting continues to grow. Supply and demand dynamics have made workforce housing an excellent investment, according to Redburn Development, a real estate construction and development firm.

What is Workforce Housing?

Workforce housing is affordable for individuals earning between 60 percent and 120 percent of the median household income in a region. Often they are firefighters, police officers, teachers, social workers, or people in similar occupations. These households earn too much money to qualify for subsidized housing but sometimes too little to buy a home or to live in luxury apartments, which are plentiful in most cities.

Why is Workforce Housing in Demand?

Redburn Development knows that In major cities, housing is expensive and middle-income families are unable to find suitable housing within even an hour’s commute of the city. They cannot sustain a commute of several hours each way and, given the opportunity, will opt to rent workforce housing near the city center. Millennials also choose to live in the city center, which typically has high housing costs. Yet the construction of workforce housing has been stagnant, creating a situation where demand exceeds supply.

Why Does It Represent an Investment Opportunity?

  • Workforce housing represents an investment opportunity for several reasons.
  • Often, workforce housing is not yet on many investors’ radar, so investors who see its potential face little competition.
  • Workforce housing is resilient and performs well through various economic cycles. Strong performance occurs most often if the properties are close to intangibles such as public transportation, good schools, and dining and shopping.
  • Workforce housing investments can pose less risk, especially if they originate from acquiring buildings and modernizing rather than building from the ground up.

About Redburn Development Partners

Redburn Development develops real estate with an eye toward return on investment, historic preservation, and sustainability. Redburn Property Services also has a long-term view, creating partnerships in the communities where it invests. Its projects provide opportunities for accredited investors. Building better communities through thoughtful renovation and construction is just part of Redburn Development’s way of giving back. Redburn team members participate in quarterly volunteering efforts at food banks, homeless shelters, and other not-for-profit organizations, and the company donates to many charitable causes – both local and national. The company’s executive team volunteers on several charitable boards.

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