Pictured: Forest Cove will offer affordable housing to local employees of participating businesses. Photo provided by One Stop Housing.

One Stop Housing, a local organization that provides high-quality yet affordable housing to Sarasota and Manatee residents, hosted a breakfast last Monday to introduce its newest project, Forest Cove. A first for the organization, this project will bring together local employers who hope to provide low-cost apartments to employees through a partnership between One Stop and the Bradenton Area Economic Development Corporation.

Chief Executive Officer Mark Vengroff says his organization is looking for solutions to a widespread problem. “So many employers are struggling to recruit and retain good talent, especially because of the housing market. Housing is unaffordable for a lot of folks—76 percent of employees we surveyed spend more than 30 percent of their income on rent and utilities. That means they don't want to retain their work, or they're working multiple jobs just to sustain a livelihood and keep a roof over their head.”

By working with participating employers, Vengroff has found that offering affordable, luxury housing with amenities allows businesses to retain talent long-term. Before breaking ground on Forest Cove, One Stop is looking to finalize its list of participating employers. At the breakfast, companies that were interested in joining the project had the opportunity to ask questions and hear from employers who had already confirmed their participation. “We were looking for three more employers to jump in, and now we're down to two. There are quite a few interested employers that are circling the wagon. The first two that come in will be the ones we go with, and then we'll start breaking ground,” says Vengroff.

Once completed, Forest Cove will house around 328 families in a variety of one-, two-, and three-bedroom apartments across three buildings, all connected to shared amenities such as a pool, a barbecue and picnic area and a dog-friendly park. Vengroff hopes that this project will inspire other areas to adopt the solution his organization has found. “There are multiple solutions to our workforce housing challenge, and this is a really innovative and creative one. I hope others will start to note that Manatee County is creating a very innovative model that would be a great benchmark for others to follow.”

Pictured: Forest Cove will offer affordable housing to local employees of participating businesses. Photo provided by One Stop Housing.