AN EMPLOYER BASED COMMUNITY
Forest Cove is a collaborative private/public multifamily development effort between the Bradenton Area Economic Development Corporation, One Stop Housing, and several large employers in the Bradenton & Sarasota area. Together, we hope to develop a community that offers a high quality, competitively priced housing option which directly benefits both employers and employees.
Click photo to watch video — Future Suncoast workforce housing with One Stop Housing
Once completed, Forest Cove will house approximately 328 working families within three communities connected to a public center with amenities. A variety of studio, 1-bedroom, 2-bedroom, and 3-bedroom units will be available, selected based on results from over 700 employee surveys from the participating companies.
Rent with utilities for the employees of the participating employers will be set at or below 30% of employee annual wages.
In Sarasota and Manatee counties alone, there is a shortage of affordable housing for the workforce by more than 46,000 units. A study by MSA stated approximately 40% of the households in Sarasota and Manatee counties are cost burdened, meaning the family is spending over 30% of their total annual salary on housing.
• Provides a proactive approach and a long-term solution to a housing shortage that is tailored to the local workforce.
• A complete turn-key solution that will be developed and managed by One Stop Housing, the leading provider of privately-owned workforce housing communities in the region.
• Improves employee retention and recruitment by providing housing set at or below 30% of employee annual wages.
For more information about FOREST COVE, or if you are interested in participating in a similar community, please contact Mark Vengroff at (941) 993-9563.
Preliminary Site Plan
General Contracting for this project will be led by One Stop Development & Construction - 1stopdevelopment.com
Forest Cove may be developed in four phases, including construction of multi-level apartment buildings, roadways, nature trails, a Central Park indoor amenities center, swimming pool, dog park, playground, and many other outdoor amenities for families to enjoy.
(Photos are for illustration purposes only)