Innovative Housing Project Tackles Manatee County's Affordable Housing Crisis

The affordable housing crisis in Manatee County is affecting local families and businesses, making it difficult for employers to recruit and retain workers. To address this growing challenge, One Stop Housing is spearheading a unique project called Forest Cove, an apartment complex designed to provide affordable housing specifically for employees of participating businesses.

Located on a two-acre property just south of Cortez Road off U.S. 41, Forest Cove will feature 156 units priced 17% to 39% below market value. The development is being hailed as a first-of-its-kind multi-employer community initiative aimed at solving workforce housing issues. Businesses investing in the project will secure housing units for their employees, ensuring affordability and stability in a tight rental market.

The innovative model requires employees to work for one of the participating companies to qualify for a unit. Leases are renewable annually, contingent on continued employment with the supporting businesses. Companies such as Goodwill, Cirrus Aviation, Oysters Rock Hospitality, Spirit Move, and S&B Metal Products have already committed to the initiative. Before breaking ground, One Stop Housing seeks additional partners to meet its goal of 12 participating companies.

The project is being supported by Manatee County Commissioners, who have unanimously backed drafting a loan to help fund the initiative. The public-private partnership brings together local employers, the Economic Development Corporation (EDC), and the county government, offering a collaborative solution to the region’s housing affordability crisis.

The Forest Cove model has garnered attention for its potential to boost employee retention and productivity while easing financial burdens on workers. By reducing rent costs, employees can save money, improve their quality of life, and focus on long-term financial stability.

As businesses grapple with the challenges of workforce housing, Forest Cove offers a promising blueprint for addressing affordability while fostering community investment. The project has the potential to not only improve living conditions for local workers but also set a precedent for similar initiatives in the region.