Uplifters Foundation to fund $3 million homes in Pacific Palisades via municipal bonds

The Uplifters Foundation plans to issue up to $250 million in municipal bonds through the California Public Finance Authority to fund the construction of 60 new homes in the Pacific Palisades. These homes, valued at approximately $3 million each, are intended to aid recovery in the area following the January 2025 wildfires that caused significant destruction and loss of life.

The Los Angeles City Council has approved a resolution supporting the debt issuance, noting it provides a community benefit without requiring financial commitment from the city or taxpayer-backed agencies. The proposed homes will average 2,600 square feet and will initially be leased to residents with an option to purchase. To encourage long-term residency, price reductions will be offered to owners who remain for at least three years.

Rebuilding efforts in the Palisades have been slow; as of recent reports, only a small fraction of the more than 5,000 destroyed homes have received construction permits or occupancy certificates. The foundation aims to complete the bond marketing process by the end of this year, with the first homes expected to be move-in ready by 2028.