CEO Leslie Goedken Is Creating Housing Projects With High Standards For Special Needs Residents

Leslie Goedken, CEO and Founder of Home Catalyst, is seeking to scale quality housing for adults with special needs through investment and advisory. This is a goal that’s close to her heart. After finding virtually no options for housing for her adult sister who has autism, Leslie realized just how many families were struggling with the same issue. So she decided to do something about it. 

Leslie not only has felt called to entrepreneurship her whole life, she also believes her sister is in her life to help her understand the world through an important lens.

Leslie’s work affects a population that has long been ignored when it comes to quality of living and housing and as a result, propels society in a more positive direction. Below, we asked her the story behind her company’s founding, how her past experiences relate to her work, and what she sees for the future of Home Catalyst. 

Q: Tell us the story behind your company’s founding. How and why did you start working on Home Catalyst?  

A: I have 38 years of personal diligence with the special needs population, having a sister with autism. Professionally, I have significant experience in real estate and healthcare and have closed over $37 billion of transactions, working closely with executives and entrepreneurs. Through my own personal experience with my sister, I have seen the housing crisis for people with special needs. Finding virtually no options for housing for my adult sister, and realizing that many families are struggling with this issue, I saw the opportunity to create a new asset class in real estate with standards of quality needed for people with special needs to live their best lives.   

Often quality projects are too expensive for most families, and affordable projects are of low quality standard. My professional experience has helped me understand the importance of financial engineering to attract private capital to create solutions that move the market. Home Catalyst is currently working to partner with existing real estate developers and investors to create housing projects that have high standards, in parallel to raise a fund to invest in the assets, and also to advise existing owners of real estate on converting assets to strategies that create units for people with special needs.

Q: What problem does Home Catalyst solve? 

A: Today there are an estimated 60 million people with disabilities and roughly 10 million with intellectual disabilities in the United States. People with intellectual disabilities are 400 percent more likely to become homeless, and 80 percent are living with family in adulthood. The statistics for people with disabilities broadly is similar. Often they fall below the 30 percent of area median income level, and are forced to eventually live in either group homes or low quality buildings which further increases risks to their safety, health, and success in life.  

The challenge is that there is not enough supply of affordable, quality housing for people with special needs. By creating standards and scaling supply of housing with such standards, there will be a related reduction of burden on the healthcare system for this at-risk population, which accounts for about 25 percent of healthcare costs. There are several models being developed, including rental and homeownership models for both high-needs and lower support needs individuals. All projects will account for the need for people with special needs to have projects located in safe, walkable neighborhoods with access to essentials, on-site community, fitness, and support services.

Q: In what ways has your upbringing or past experiences contributed to how you operate as an entrepreneur?

A: I am equally passionate about creating high-quality housing solutions that help people with special needs and their families as I am about the financial engineering to create a standard which will attract for-profit investors. I know that for-profit investors will need a certain return for a project to work, which is how we will create scale. I look at the standards for housing through the lens of, “Would my sister be happy in this project?” and, “Would my family be comfortable with her living here?” People with special needs are often discounted in terms of their abilities, and the goal with the housing models is to create ways to think about integrating them in the community with dignity. Through my sister, I have seen adults with special needs struggle with vocation, community, transit, and health, and how these constraints ultimately impact their happiness.  

Q: Have you ever felt like you’re “different”? If yes, in what ways has this contributed to your journey as an entrepreneur?

A: I see now that in hindsight this was always meant to be my life path. However, it has been through a series of twists and turns that I came to this conclusion. I have always felt that I was able to quickly connect the dots on complex business problems and transactions. I have also felt that I have had my sister in my life for a reason, to see the world through a different and important lens. While I have found some success working with established companies and organizations, I have always felt culturally disconnected in those environments and that I was meant to do something greater. Eventually I started looking at my own life and the problems in it more closely, as it became clear to me that a crisis can become an opportunity, or a problem can become your mission.

Q: Did you always know that you wanted to be an entrepreneur?

A: Truthfully I never intended on being an entrepreneur, and the thought of starting a company terrified me. I grew up with a family with modest means and I felt the need to build as much financial security for myself as possible. Knowing that the system is very broken for people with special needs, I felt compelled my entire life to build financial security. I pursued top tier degrees at Ivy League schools, and worked with some of the best companies in the world. However, in the process, I always gravitated toward entrepreneurs. With my sister going through numerous hospitalizations and a housing crisis, I felt that I needed to do something to change the system. The exposure I had working extensively with entrepreneurs helped me build the confidence to follow this path.

Q: What’s next for you and Home Catalyst?

A: Currently we are looking to raise seed funding while also partially bootstrapping the business. I am having conversations with several real estate partners about prospective sites to work on developments, acquisitions, or conversions of assets. Some of those partners are based in Minnesota, and some are national investors. I am currently looking to establish the right structure for the company so it can serve as both an advisor and raise a fund/company to invest in assets. I am looking to partner with developers and investors in other markets. Additionally, I am working with several leading autism and disability nonprofits to put together a national study on the funding sources and support services that exist in each state so we can understand how to scale national models. Finally, I am currently establishing the board for the company, and will eventually look to build a team.

Leslie is a member of Dreamers & Doers, an award-winning community that amplifies extraordinary women entrepreneurs and leaders by securing PR, forging authentic connections, and curating high-impact resources. Learn more about Dreamers & Doers and get involved here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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