According to the GAP Report:
“SHORTAGE OF AFFORDABLE RENTAL HOMES is nearly 43.6 million renter households living in the U.S., 11.4 million are ELI*. Assuming housing costs should be no more than 30% of household income (the accepted standard for housing affordability), only 7.5 million rental homes are affordable to ELI renters. This leaves an absolute shortage of 3.9 million affordable rental homes (Figure 1). The shortage of affordable housing turns into a surplus further up the income ladder, giving higher income households a broader range of affordable housing options.”
*Extremely Low Income (ELI): Households with income at or below the Poverty Guideline or 30% of AMI, whichever is higher
In our local Markets:
Habitat for Humanity Charlotte only built 48 homes in the Charlotte area last year. It will take them a LONG time to really make an impact amidst the 24,000 units needed at this time. We are positioning ourselves as a disrupter in the affordable housing market. We will be able to reach the underserved market of the Extremely Low Income client as mentioned above. Almost all of the affordable housing projects to date are not focusing on the “Extremely Low Income” clients. We are partnering with non-profits to produce first class amenity rich communities for these clients.
On the for-profit side, we are working with land owners to turn their property into lower cost rental units with the option for non-profit support for the clients.
We are working on a solution for higher density communities. Most metropolitan areas need high density solutions for housing. In Charlotte, the general reason people are moving is economic opportunity. Charlotte’s unemployment rate was 3.1% in Dec 2019 as compared to 3.8% in Dec 2018. The US average is 3.9%. Charlotte’s historically strong economy explains why roughly 100 people a day move into the area which has propelled demand in the Charlotte real estate market. Between 2018 and 2019, Charlotte saw a 2.3 percent increase in jobs, adding more than 27,300 jobs year over year. Future job growth over the next ten years is predicted to be 45.2%, which is higher than the US average of 33.5%. There is already a housing deficit in the Charlotte area so these
We are utilizing the next generation of sustainable and affordable building solutions. Axhoj Enterprises’ proprietary building component system is in the process of being filed for patents:
Our Affordable homes start at 288 sqft and go to 1533 sqft heated at this time. Following is a portfolio of these homes. If you are in the Charlotte area and want to see one of these homes, please contact us.
The building system is assembled at the building site using “Plug and Play” or “Quick Connect” components. This technology simplifies the erection of a structure making the construction quick and extremely easy to assemble. The building system is efficient and can be performed by non-skilled workers without tape measures and levels.
Summary of benefits:
Axhoj Enterprises will have standard offerings (plans/components), but will also be able to adapt any structure into our building component system.
The building system will continue to be enhanced and improved. Axhoj Enterprises’ building solutions will enter the market at a price point that will be well below conventional construction making our offerings hard to compete against. We will continue to enhance its offerings for the entire spectrum of building materials and turn-key labor. We will provide the entire spectrum of services for construction including: