Frank had an extensive career in international marketing. Sherri worked in startup biotech companies as a scientist and patent counsel. Their daily walks to work in downtown Seattle revealed a stark contrast between the high-tech building boom with crowds of people hustling to work and the people who did not have housing.
Both believed in a life of service and spent their free time providing support to the needy. Frank had a feeding program for the needy and Sherri spent time in Africa working with orphans. They often thought of the contrast from those who have enough and those who struggle.
Someone they cared about needed the support of recovery homes. They quickly learned that it was the wild, wild west when it came to nonaccredited and self-managed homes. Quality and fiduciary responsibility were hit and miss. Mostly a miss. Together, they said “we can do better”. We can create a compassionate home for people with the greatest needs and help restart lives. Frank and Sherri gambled their retirement funds to purchase homes with the belief that people needed compassionate care and medication if it was prescribed.
They believe that private sector can purchase real estate to house our veterans, men and women in recovery from substance use disorder, the justice-involved, foster adults aging out of care, people on social security and people who desired to live in the community. By placing people in a family like environment, they built a family in their house. The private sector has the real estate investment, the guarantee of funding and a financial return to grow the business. They are “socialpreneurs”. People who invest to make a difference in their community.
This knowledge allowed Frank and Sherri to buy great homes in safe neighborhoods to create a real estate investment opportunity and house others. That is social impact investing that changes communities.
Many of these people were eligible to pay their bed fees by State and Federal funding. By placing people in great neighborhoods, the Candelario’s created a paradigm shift on how to change the trajectory of an individual life story. Housing heals families.