Local Businesses Gather to Explore New Affordable Employer-Sponsored Housing in Manatee County

The recent workshop took place at the Anna Maria Oyster Bar in Bradenton, focusing on a groundbreaking initiative aimed at addressing the urgent need for affordable housing in Manatee County. This initiative, named Forest Cove, is set to provide below-market-rate rents specifically for employees of businesses that have invested in the project.

For instance, Goodwill Manasota is among the employers backing Forest Cove, allowing its employees to inhabit one of the 154 units at significantly reduced prices compared to typical rent in the county.

Affordable housing in Sarasota becoming more scarce as rent costs increase

Mark Vengroff, Managing Partner of One Stop Housing, emphasized that “this is the first time local employers are stepping up to make a difference.” He collaborated with the Bradenton Area Economic Development Corporation to engage employers in this crucial project.

Currently, the average rent in Manatee County stands at $1,848. A survey conducted by Oysters Rock Hospitality involving 700 local employees revealed a staggering 76% are cost-burdened, spending over 30% of their income on rent.

Vengroff highlighted that many of those surveyed were facing significant financial strain, with over half of their income allocated to housing costs. Given these alarming statistics, local businesses are uniting to support their employees in maintaining residence within the community.

Workforce housing coming to Manatee County

Employers like CareerSource Suncoast and Spirit Movers expressed to ABC7 that their employees are often forced to live outside the community due to rising rental costs, with some commuting over an hour daily.

One Stop Housing is currently seeking to engage two or three more employers in this initiative, expanding its partnerships which currently include six businesses. Additionally, they are contributing to the community by offering units to law enforcement, including the Manatee County Sheriff’s Office.

Once construction starts, it’s anticipated that the entire project will take approximately two years to complete.

Key Information

• Location of Workshop: Anna Maria Oyster Bar, Bradenton.
• Project Name: Forest Cove.
• Affected Employees: Employees of participating businesses, such as Goodwill Manasota.
• Number of Units: 154.
• Current Average Rent in Manatee County: $1,848.
• Percentage of Cost-Burdened Employees: 76% spend over 30% of their income on rent.
• Employment Partners: Seeking 2-3 additional employers to join a current list of 6.
• Community Contribution: Units allocated to law enforcement.
• Estimated Project Completion: Approximately 2 years after construction begins.