Adaptive reuse for housing and workspace
Florida Housing Coalition
Vacant commercial space is a persistent and increasingly common challenge for communities across the country. Facing increased competition from new concepts and growing consumer preference for internet purchasing, retailers are closing brick-and-mortar locations at an alarming rate. The result is vacant real estate, empty parking lots, and a decline in local jobs. These repercussions impact lower-income communities where the workforce is disproportionately dependent on low-wage, service sector employment, and where finding new tenants to fill vacant space can take several years. This proposal will turn vacant commercial space into affordable housing and working space for entrepreneurs in low-income communities, creating a pathway for developers and interested communities to simultaneously promote affordable housing and economic development.
- This proposal solves two problems: the need for affordable housing near job opportunities, and problems associated with vacant commercial space.
- In combination, the affordable workspace and affordable housing will allow business owners to focus on establishing and growing their businesses, ultimately boosting employment opportunities within the communities they are located.
Ashon Nesbitt, Technical Advisor/Research AnalystAshon Nesbitt is a Project Analyst for the Florida Housing Coalition with experience in local government, asset management, underwriting and development. Prior to joining Florida Housing Coalition, Ashon was project manager for an affordable multifamily developer in Tampa, managing projects at various levels for a total of nearly $90 million invested, with an emphasis on acquisition and rehabilitation in partnership with nonprofit organizations. Ashon also served as an Asset Manager and Underwriter for a prominent syndicator of low income housing tax credits, with duties focused on investor yield maintenance, tax credit delivery and program compliance.
Watch this quick clip to hear Ashon discuss The Innovation Challenge.
Florida Housing Coalition
The Florida Housing Coalition, Inc. is a nonprofit, statewide membership organization whose mission is to bring together housing advocates and resources so that all residents have a quality affordable home and suitable living environment. Their mission is focused on supporting the expansion of affordable housing opportunities in high-need, housing insecure communities across the state, bolstered by efforts around supporting sustainable building practices.
The southernmost area of Texas has been a persistent poverty region. Brownsville, TX, is often referred to as the poorest city in the country, with the lowest credit score in the nation.
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