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David Hall is president of Currie-Hall Investment Co., an industrial real estate brokerage and development firm based in Hudson, Ohio.

Just when I thought the topic and discussions of providing affordable housing couldn’t get farther off the track, I read Sen. Elizabeth Warren’s recently suggested solution. In an attempt to bring some perspective to the topic and to help inspire change, I am respectfully suggesting this proposal for your review and consideration.
There is no viable solution for affordable housing in new construction. The most affordable housing for young people with children exists by re-positioning houses currently occupied by older adults who now find their two-story homes, stairs, baths, low lighting levels, inadequate HVAC, and narrow hallways and doors to be dysfunctional.

Providing appropriate rental units for older adults in a way which includes and encourages socialization, exercise, dignity, and better diets is a win for quality of life, meaningful involvement, and volunteerism. By combining tax abatement for new, older adult housing with the older adult housing paying an EMS fee in lieu of real estate taxes on the improvements (which affirms the viability of the entire EMS service to the entire community) affordable rental rates can be better achieved.

Affordable rental rates for older adult apartments are possible and affirmed by the elimination of existing housing ownership expenses (RE taxes, insurance, utilities, maintenance, etc., maybe $1,000/month) combined with new income from an investment return on the home equity realized from the sale of their home (maybe another $1,000 /month).

With the creation of affordable housing for young families, the community can better capture an increasing share of the diminishing number of children in the demographic pipeline while sustaining the necessary financial operating economies of scale necessary to operate the existing school.

Fortifying this component of community viability averts the impending demographic crises while enabling schools to be vibrant providers of workforce development and affirming entire community housing values. Everybody wins!