Housing shortages that impede business growth can be reduced through employer participation in workforce housing development projects
— Karl Dakin, CEO, Housing O2 LLC
CENTENNIAL, COLORADO, USA, July 20, 2022 /EINPresswire.com/ — Housing O2 LLC works with employers in different communities to develop new housing for the workforce. Employers who partner with Housing O2 LLC can use the prospect of housing and home ownership to recruit new employees and retain existing employees. This powerful combination will allow businesses to grow and communities to recover from COVID.
Karl Dakin, Managing Director of Housing O2 LLC, said, “Community after community we spoke with, employers and community leaders shared stories of businesses that were unable to complete a hire because there was no There were 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 worker homeownership programs that use employer creditworthiness. While low-income workers may have little or no credit to support a home purchase, their employers typically do. Housing O2 LLC has designed a program where housing is pre-sold to employers with subsequent resale to their employees. This program creates investment security with reduced risk that makes it attractive to investors who would otherwise view labor housing as speculative.
Employers offer higher wages and hiring bonuses to attract new workers. Intuitive suggests signing bonuses of 5% to 10% of annual salary. Although this approach has had some success, such approaches increase the cost of labor without improving productivity or ensuring long-term employment. These steps have much less impact than a promise of quality rental housing with the potential for home ownership. The Urban Institute advocates for employer-supported housing to “support their workforce and the local economy”. The Housing O2 LLC program provides employees with a five-year retention bonus in the form of a down payment on their home purchase that can be equal to 50% to 75% of annual salary.
Alternative homeownership programs are being developed for seasonal (resort), nomadic (agriculture, sports teams) and on-call (first responders, health care) workers and small business owners. It is intended that ownership will be “tokenized”, which will result in a shared security ownership interest in a business that holds title to a single or multi-family residence or in a mixed-use building. Like investments, ownership structures can be stacked with different pricing, term, and eligibility criteria.
The concept of employer-arranged housing is not new. However, the concept of “corporate towns” where employers took advantage of their employees left a stigma that has endured for decades. Employers can now help themselves by helping their employees fairly.
Employers can participate in Housing O2 LLC with no cash commitment requirement, or they can invest alongside other investors and get a return on their investment in addition to getting incentives to hire and retain workers.
Housing O2 LLC is committed to the development of workforce housing projects to provide needed housing for low-income full-time workers and enable local communities to recover from COVID. Interested investors and business partners can contact Housing O2 LLC to determine if their goals fit with workforce housing development projects.
Housing O2 LLC