Workforce Housing is NOT a public, subsidized, or Low-Income housing development model.
Rather, Workforce Housing serves the moderate and middle-income renters. Tax-exempt bonds and/or conventional debt are used to finance the construction of these properties. The Workforce market segment represents about 30% of the demand which far exceeds supply.
Buchanan's Crossing is a workforce housing community – by design.
Traditionally, this market segment lives in older, obsolete units priced 20 to 30 percent below new luxury apartments. Who are these people? Well many of them cross our paths each day. They are teachers, police officers, firefighters, trades people, municipal employees and those just starting their career.
They earn too much to live in subsidized housing but not enough to live in either new rental housing or entry-level single-family homes. The workforce market segment represents the backbone of the US economy and almost no new housing is being produced to serve these moderate-income renters.
We designed this community for these essential workers and by using labor-saving exterior wall panels and energy-efficient design, we are able to build this type of a community at rents 10 to 30 percent below new luxury apartments
Watch to learn more about Workforce Housing, and the people it serves