What If We’re Actually Having A Creativity Crisis?

Solving the lodging situation will return immoderate creativity.

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For the past 10 years, the lodging situation has go much and much of a headline. The mostly of Americans are yet admitting really existent the situation is, particularly pinch headlines astir $1 cardinal starter homes.

Those of america successful the manufacture itself aren’t surprised. We’ve been saying this intersection was going to happen. But the increasing magnitude of headlines astir building costs, owe rates, and regulations person maine asking a different, astir apt much audacious, question:

“What if this is not conscionable a lodging situation but a productivity crisis?”

What if the shortage is, successful fact, besides a shortage of vision?
What if the adjacent affordable lodging improvement is already standing?

Because each crossed the country, vacant schools, aged mills, underutilized parking lots, and historical landmarks are getting a 2nd life arsenic housing…strengthening communities successful the process.

How?

Tax Credits

On a caller section of my podcast ChangeMakers, I sat down pinch Marie Cervay Hickle, the 𝐕𝐢𝐜𝐞 𝐏𝐫𝐞𝐬𝐢𝐝𝐞𝐧𝐭 𝐚𝐭 𝐏𝐍𝐂 𝐁𝐚𝐧𝐤, to talk really historical taxation credits and caller markets taxation credits are unlocking redevelopment opportunities that mightiness different ne'er happen.

Marie has helped adjacent much than $450 cardinal successful taxation in installments equity investments, and she shared pinch maine applicable insights on:

• How historical taxation credits thief capable financing gaps
• Which types of properties tin qualify
• How caller markets’ taxation credits support finance successful underserved communities
• The opportunities of adaptive reuse and vicinity revitalization

One illustration of a real-world translator we discussed was a 125-year-old denim mill successful South Carolina that was reimagined into a thriving 205-unit flat community. What astir saw arsenic thing much than an empty, unusable historical landmark became a spot 200 families tin telephone “home.”

The building itself whitethorn beryllium historic, but the effect it’s having is current.

Look astir your city… What are immoderate places that request revitalization? What “invisible” structures could suffice for a taxation in installments to go affordable housing?

Accessory Dwelling Units (ADUs)

Many times, our meaning of what affordable lodging “should” look for illustration is excessively narrow.

On another episode, I invited Whitney Hill, whose statement Snap ADU has go 1 of San Diego’s starring ADU builders, pinch Whitney herself being recognized by the San Diego Business Journal arsenic 1 of its 40 Next Top Business Leaders Under Forty.

During our chat, Whitney showed maine really accessory dwelling units (ADUs) are creating caller lodging opportunities for aging parents, big children, caregivers, renters, and moreover for multigenerational families.

What’s particularly absorbing is that Whitney didn’t travel from a building background. She saw a lodging strategy struggling to support gait pinch request and 𝐛𝐮𝐢𝐥𝐭 𝐚 𝐜𝐨𝐦𝐩𝐚𝐧𝐲 𝐟𝐨𝐜𝐮𝐬𝐞𝐝 𝐨𝐧 𝐜𝐫𝐞𝐚𝐭𝐢𝐧𝐠 𝐡𝐨𝐮𝐬𝐢𝐧𝐠 𝐨𝐧𝐞 𝐡𝐨𝐦𝐞 𝐚𝐭 𝐚 𝐭𝐢𝐦𝐞.

Our speech explored entrepreneurship, affordability, and why immoderate of the astir impactful solutions don’t require monolithic developments successful the accepted sense…just a spot of productivity and willingness to spell extracurricular the box.

There’s nary logic this ADU strategy can’t beryllium adapted crossed awesome cities to create lodging wherever nary presently exists.

How could ADUs fresh into your community’s lodging strategy? How could it alleviate concerns aliases disrupt assumptions astir affordable housing?

Challenge the Status Quo

Don’t get maine wrong… I’m not saying the affordable lodging situation isn’t real. No 1 knows that amended than me.

But I besides judge that for each problem, location is simply a solution. And sometimes we’re truthful focused connected the problem that we’re not opening our minds wide capable to what the solution tin be. As leaders, we tin get truthful locked into “the measurement things are” that we don’t workout our earthy productivity to spot the measurement things tin be.

And if you’re emotion short connected productivity astatine the moment, past return a page retired of Marie and Whitney’s book. They are conscionable 2 examples of really a small productivity is solving the problem successful their communities.

What could that look for illustration for your company? How would it toggle shape your community?