About Functional Housing
Our Story
The day we signed our first master lease in Los Angeles, we knew we'd found an effective tool to change the course of access to affordable housing.
A master lease puts an umbrella lease on a market-rate building, negotiating a lower rate per unit in exchange for guaranteed occupancy. It's particularly effective for rapidly scaling housing solutions for vulnerable populations.
We convinced a for-profit student housing developer — with no public-private partnership experience — to turn an entire building over to individuals exiting homelessness. That's relationship capital.
Since then, we placed 2nd in UChicago Rustandy Center's Social New Venture Challenge, winning the seed funding to scale Functional Housing. Every contribution lets us deliver high-quality affordable units in Chicago and beyond.
Our Team
The people behind the model
Keenan Leary, MSW
Keenan's research centers on the intersection of successful social services and financial asset management in supportive housing to resolve homelessness. Previously, he was a homeless services housing navigator and project coordinator for affordable housing acquisitions in Los Angeles.
Alex Mccullough
Experienced Development & Asset Management professional with 6+ years in multifamily management, development, underwriting, and portfolio performance. Assisted in entitlement, development, and refinancing of 600+ apartment units.
Austin Sankaran
Experienced organizational leader with 4 years of service in the Navy, leading teams and solving critical global problems. MBA student at the University of Chicago Booth School of Business since 2025.
Supporting Partners
Our Story
