Pacaso pledges $100K+ to Burbank Housing

Underused second homes create complex, unsustainable challenges for many communities. They typically sit vacant most of the year, increase competition for housing affordable to the local workforce, and — because they are underutilized — offer inconsistent support to local businesses. Pacaso offers a more sustainable alternative: Families can co-own a luxury property instead of competing for those more affordable whole homes. Co-ownership also means second homes are better utilized, with owners who occupy their homes and support local businesses year-round.Starting August 1, Pacaso will take the next step in supporting local sustainability by donating a total of $20,000 for each home sold in Napa and Sonoma counties to local nonprofit partners that support housing, economic and environmental sustainability. We are excited to announce that we have selected affordable housing developer Burbank Housing as our primary community partner in Napa and Sonoma counties. Burbank Housing provides housing and resident services to nearly 10,000 residents across 68 housing communities.Through 2022, Pacaso will donate 80% of total giving funds to Burbank Housing, with a minimum donation of $100,000 during that period. That sum could increase with additional sales. The remaining 20% of funds will be distributed to other local organizations promoting sustainability. Burbank Housing will earmark Pacaso donations to underwrite a new program through its partnership with New York-based financial technology company Esusu. The program will provide rent reporting, a powerful tool for building credit, to all its residents. “Helping our residents build sustainable and economically resilient futures is a critical part of our mission,” said Burbank Housing CEO Larry Florin. Pacaso’s director of government and community relations, Ellen Haberle, said the company is committed to making a positive impact in the communities where Pacaso homes are located. “In partnership with Burbank Housing, Pacaso is proud to grow our impact through intentional investments in long-term sustainability and resilience in the region.”

Promoting sustainable communities: Pacaso pledges $100K+ to Burbank Housing

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