The Michaels Organization Releases White Paper On Attainable Housing
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The Michaels Organization, a national leader in residential real estate that has been pioneering solutions to the nation’s housing challenges for more than 50 years, today released a white paper that examines the growing crisis of housing unaffordability in the United States and proposes attainable housing solutions.
Titled “Attainable Housing: Tackling the Housing Crisis with Innovative Solutions,” the white paper defines attainable housing as “residential accommodations that are affordable to a broad range of individuals or families based on their income levels.” It states that attainable housing typically serves those earning between 61% and 250% of area median income.
“The lack of attainable housing has impacted too many American families and communities,” said Michael Flanagan, President for Development at The Michaels Organization. “Our white paper examines how one solution lies in the collaborative efforts among public, private and non-profit partners to increase housing development and accessibility.”
The white paper provides an in-depth analysis of the housing affordability crisis, including factors like rising rents, a widening wealth gap, and the disproportionate burden placed on teachers, healthcare workers and other “key contributors” that represent the backbone of local economies. It also examines root causes, from construction costs to zoning policies.
In order to tackle this crisis, The Michaels Organization proposes a multi-faceted approach involving regulatory changes, innovative financing strategies, public-private partnerships, tax incentives for developers, and cost-effective land to create attainable housing communities.
The white paper highlights Michaels’ own attainable housing projects currently underway, including a 1,300-unit community being developed for Disney employees in Orlando, as well as the Brown Ranch development in Steamboat Springs, Colorado. It also references the potential for impactful policies like Florida’s Live Local Act.
“Public and private collaboration is crucial to increasing attainable housing nationwide,” said Flanagan. “We must continue innovating and advocating to ensure that every individual and family has access to a safe, quality and affordable place to call home.”
To receive a copy of The Michaels Organization's white paper, click here. For more information on attainable housing initiatives or development partnerships, contact attainablehousing@tmo.com.
Shared February 20, 2024.
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