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Home Is Where Your Job Is

Posted by: Christian Madera

16 January 2007 - 1:00pm

Tesco, a UK-based supermarket chain, has plans to provide housing for staff members in new mixed-use developments featuring its stores.

With London's housing market increasingly unaffordable, one company is trying to help retain workers by offering them affordable housing with the benefit of a short commute -- just downstairs.

"The UK's largest supermarket has allocated 13 of the 250 flats it is building alongside the Streatham store in south London to staff....The Streatham development is set to include a leisure centre and ice rink in addition to the flats above the Tesco store."

"If the trial is successful, the chain intends to incorporate staff housing into further developments."

Full Story: Tesco to build homes for workers
Source: BBC, January 15, 2007
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The decision to abandon a property is a symptom of the loss of confidence. And while abandonment certainly affects confidence among surrounding homeowners, the most important question to answer is not "how do we deal with abandoned properties?" but "what is the most cost-effective way to restore market confidence, and how do abandoned properties fit into that picture?"
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