Benefits of Including Amenities in Affordable Housing Units

SP Investment Fund LLC executive Gil Seton has been involved with efforts to preserve affordable housing stock in a number of states located across the United States. Many of these renovations involve renovating affordable housing communities with amenities usually found in market-rate or luxury buildings.

As the benefits of amenities in all types of housing (including low-income and affordable housing) become clear, more developers are incorporating communal areas into multi-unit building plans. Many cities with federally designated opportunity zones also encourage builders to include spaces that contribute to a higher quality of life, including shared green areas, fitness centers, and child care centers.

Open spaces and community areas encourage neighbors to interact and contribute to a strong sense of community. Gyms and fitness centers also make it easier for residents to stay active and healthy. Developers are also experimenting with buildings that house community-based organizations on site. These organizations may conduct vital programming such as job training, as well as healthy living initiatives that promote sustainable practices like urban gardening.