How the Standard Playbook Nearly Cost Us Millions

A Charter School COO on Real Estate Blind Spots, Falling Bricks, and Finding the Missing Piece

Jeannemarie Hendershot, VP of Partner Success

Our extraordinary team at PS wrx is solving one of the most common and expensive problems I faced during my career as a Chief Operating Officer (COO) of a small charter school network: real estate blind spots.

As an educational leader, it's nearly impossible to make good real estate decisions when you don't know what you don't know. This was true for me. Real estate projects span many disciplines—ranging from engineering, architecture, financing, governance, construction contracts, zoning and regulatory compliance, to name a few. What I didn’t know could have cost us millions.

The 15-Minute Call That Saved Our School

When I became the COO of a network of charter schools in the Bronx we were in an exciting period of growth. This included opening a new girl’s school and managing the real estate project. Our broker found us a temporary space that "checked all the boxes," two floors in the right neighborhood at workable rent. We had a project manager ready to execute the renovations. School leadership was focused on preparing for the arrival of our new students.Time was of the essence and my CEO and I felt pressure to execute the two year lease. 

But Ahkilah Johnson and Diane Flynn—two founders of PSwrx—asked us for a quick call. They heard through the grapevine that we were about to sign a lease. They shared that they had looked at the very same building and walked away.

We were due to sign the lease that afternoon, and had been told by people helping us that we were good to go. Yet Ahkilah and Diane were telling us something different—something we didn’t really want to hear.  That fifteen minute call went on for an hour as we interrogated their reasoning with more questions. But they ran us through the probabilities and their assessment of risks with such clarity and integrity that the decision we needed to make became clear. 

Even though we had put in months of work and money into this process we walked away from the lease. The very next day, part of the building’s facade collapsed. That night, ABC 7 NY aired a story about falling bricks in the Bronx.

We had narrowly escaped safety risks to our students, losing parents’ trust, and a financial blow we could not afford. Yet, we'd been doing everything right. Like other schools we followed the recommended playbook. We had hired a broker, secured a qualified project manager, conducted site visits, and checked references. But the playbook was missing the most critical piece: independent expertise that can see the whole picture and truly assess for feasibility and risk.

That's when I understood  why PSwrx’s CEO Diane says the standard playbook is missing "an eye in the sky": skilled expertise with the job of perceiving how all of the pieces intersect, not just each vendor's narrow scope.

We Couldn't Afford NOT to Hire Them 

After that, instead of hiring a full time real estate manager we hired Ahikilah and Diane on a consulting basis to guide us through a complex web of real estate decisions. I am always careful when spending charter school operation dollars, wanting our resources to be put to the best use, so I admit I was nervous about the cost and the need for this expense. 

But, within a few months of working with them the value became clear. Not only did we have access to their decades of  experience and guidance, they also brought a network of experts we could tap into when needed. I was no longer scrambling or guessing on how to manage escalating real estate challenges. 

My CEO and I were breathing easier. 

Why I Joined PSwrx 

I know what it is like as a charter school leader to be faced with monetary constraints while navigating complex and potentially expensive facility issues. This is why, when PSwrx invited me to join the team, I said yes! I want to be part of the solution. 

Now, as the organization’s VP of Partner Success, I help brilliant charter school leaders spend wisely up front, so that mistakes are avoided down the line and limited dollars are invested wisely. 

To make confident real estate decisions that support the long term success of their schools.

To breathe easier. 

To focus on what they do best: educating the next generation of students.