Workforce Housing Development
Workforce Housing Development Services
Servitas is a leading multifamily housing developer specializing in private-public partnerships, including gaining project approvals with highly complex regulatory requirements (as is the case in many workforce housing development situations). We are a client-service organization committed to delivering on your behalf the best affordable workforce housing.
We’re bringing innovative workforce housing solutions to our municipal partners to help serve your community and bring your development vision to life. Workforce housing development creates affordable housing options for those earning between 60 and 120 percent of the area median income. Our workforce housing development often serves police officers, firefighters, teachers, healthcare workers, clerks, and similar occupations. Applying our P3 structure directly benefits the moderate & middle income workforce, who are often priced out of the market and unable to afford housing near their workplace, yet do not qualify for other government assistance for subsidized housing.
In addition to filling an essential community need, workforce housing development projects can be a financial boon for cities and towns, providing much needed revenue to the city at no cost up front for construction.
The Servitas team provides experienced executive leadership at every stage of the workforce housing development process. Our strength comes from having very diverse and experienced backgrounds, including architects, developers, construction managers, property managers, engineers, and underwriters. There is no better team suited to navigate the complex requirements of Area Median Income restricted rents (AMI), the risks & costs of construction, and the ongoing obligations of mixed-income property management.
Our team is motivated by our desire to develop real estate assets for public entities befitting their reputation for quality and financial success. Our workforce housing is meant to create a space that reflects the occupants, and your business.
Click here to see our Workforce Housing Development portfolio.
Servitas delivers workforce housing development on-time and on-budget. 100% of all workforce housing projects have been successfully financed under our leadership. Be it for staff & faculty, community artists, or public servants like firefighters, teachers, and administrators: Servitas is here to lead our P3 partners through Planning, Design, Building, Financing, Operation & Maintenance.
Please contact us today, prior to your RFP or RFQ, to engage in a listening & due diligence session about your workhouse housing development project!