Deodate private-capital workforce housing proposal to CCUSD
An April 2021 outreach email from Deodate Real Estate Strategy proposes a privately financed workforce-housing model for school districts based on acquisition of existing multifamily housing and a long-term district lease arrangement.
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Deodate CEO Rodrigo Gonzalez tells CCUSD that his firm was surveying Los Angeles County school districts about housing needs and says its internal study found at least 20 districts with a net-income-to-housing-cost ratio above 40 percent, including CCUSD. That figure is a vendor claim contained in the email, not an independent CCR finding.
Gonzalez describes a strategy in which an investment fund would acquire existing multifamily housing, potentially outside district boundaries, and enter a long-term ground or master lease with the district to provide below-market workforce housing.
The proposal characterizes the model as requiring minimal district capital outlay or administration but says a long-term master lease would be necessary for institutional-investment purposes. Gonzalez says Deodate was also speaking with other school districts, community college districts and two University of California campuses.
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