A World We Dare to Imagine: Part I
I’ve been surrounded by real estate my entire life, growing up my grandmother was a real estate agent, my mother was a real estate agent, and my sister is a real estate agent. Now at age 20, I’m here at USC studying Real Estate Development. I'm often asked why I’m a RED major, and I answer that I want to learn to develop communities for people to live, work, and play. But somehow every time I’m driving, I seem to take notice of those that don’t have a community, a house, or a job. Homelessness is a problem throughout the city, whether it be here in Downtown or near my home in Brentwood. Some people have no other option, other than sleeping outside because rents and home prices in Los Angeles are so expensive.
More shelters? More resources? What can we do to help the homelessness issue here in Los Angeles? When the topic of a self-sustaining building comes about, people often think of a structure that runs on its green energy system and produces zero waste. My idea is to use charitable donations to make the initial purchase of an old building, and then minimally renovate the dwelling units and retail floors. Once the building is ready, we allow those who are homeless to move into the units. We’d employ them in our retail shops and restaurants on the first floor. They would be paid minimum wage and be allowed to live in the units for only a quarter of their income. This project gives the homeless to have a place to live and save their money so that they can move out after a year. Once they’ve moved out, another homeless person would take their apartment and begin working in the complex.
You’re likely thinking, how would this be possible? We’d be able to develop and sustain this self-sustaining through donations and income generated through the retail shops and restaurants. All profits from retail and restaurants would be used to pay off the building, pay the workers, and pay the utilities. Donations would also help cover any additionals costs and the original development cost. The most significant hurdle with this project would be securing enough cash to make the vision work. If successful, this self-sustaining building would set a precedent for giving the homeless a place to live and getting them back on their feet.
More shelters? More resources? What can we do to help the homelessness issue here in Los Angeles? When the topic of a self-sustaining building comes about, people often think of a structure that runs on its green energy system and produces zero waste. My idea is to use charitable donations to make the initial purchase of an old building, and then minimally renovate the dwelling units and retail floors. Once the building is ready, we allow those who are homeless to move into the units. We’d employ them in our retail shops and restaurants on the first floor. They would be paid minimum wage and be allowed to live in the units for only a quarter of their income. This project gives the homeless to have a place to live and save their money so that they can move out after a year. Once they’ve moved out, another homeless person would take their apartment and begin working in the complex.
You’re likely thinking, how would this be possible? We’d be able to develop and sustain this self-sustaining through donations and income generated through the retail shops and restaurants. All profits from retail and restaurants would be used to pay off the building, pay the workers, and pay the utilities. Donations would also help cover any additionals costs and the original development cost. The most significant hurdle with this project would be securing enough cash to make the vision work. If successful, this self-sustaining building would set a precedent for giving the homeless a place to live and getting them back on their feet.
Wow I really love your idea of building a house for homeless people and eventually moving them out and getting them back into the world. I really hope this is possible as this will be extremely a positive thing for our community. I can see this project being extremely difficult to achieve, but I think it is possible if executed properly. I will be rooting for you!
ReplyDelete- James Yun
Hi Ethan,
ReplyDeleteThis is a great and innovative idea to curb the rise in homelessness, crimes, etc. I feel your concept will be a game-changing one if you're able to raise the necessary capital whether through institutional investors, fundraisers, donations, etc. Maybe one can go down the institutional funding route if the whole idea is registered as a social enterprise. I can totally imagine venture-capital firms like Acumen pumping in funds to develop this. I feel that the enterprise must also offer the necessary training (both pre- and post-employment), workshops on tech use/ de-addiction/ body language, as well as mental health counseling sessions. Because even after gaining employment, a lot of homeless people tend to go back to the very same environment they got out of. I wish you the very best as you think more around this initiative!
- Angad Singh
Hi Ethan,
ReplyDeleteI think it is really cool that you are wanting to use your major of Real Estate Development to make a difference with the homeless community. I did various projects for an organization called Habitat for Humanity in Portland when I was growing up. They build affordable housing for people in need and get them on their feet while they work. I am with you that homlessness is an issue in our society. You will see that I talked briefly about it in my assignment: we need to take care of ourselves in a sustainable manner first.
- Davis
Hi Ethan,
ReplyDeleteI agree that homelessness is a major problem in the United States and is especially obvious in Los Angeles. When I took public policies classes at Price for my minor I was also intrigued by the discussion around homelessness–its such a complex issue. I think you've already structured a great plan around tackling the issue. Your idea reminded me of development plans such as the Village that have been negotiated at with USC. I think giving them jobs that are conveniently located is a great motivator, as I think motivation is the most important thing to instill homeless if we have any hope to keep them off the streets. I think it would also be helpful to have some sort of work referral program in place to help these people find work after their year in the housing. Also programs to help with addiction and other psychological concerns would be needed to help them get on their feet before the year is up.
-Allegra