PodShare – Santa Barbara, CA
Clearinghouse CDFI (CCDFI) provided 1,540,000 to Shared Properties, LLC to purchase and rehabilitate a retail space for future co-living spaces in downtown Santa Barbara, CA.
Shared Properties, LLC aka PodShare is a chain of co-living sites located in highly-traveled areas of CA. Funds provided by CCDFI support the purchase and modification of a commercial retail space into a 22-unit co-living facility. The facility is retrofitted with individual pods and queen-size beds with daily, weekly, and monthly rates. Each pod includes a bed, night light, flat-screen TV with Roku, and storage space. This business model increases diversity and inclusion amongst clients and provides the ecological benefit of sharing resources while alleviating the temporary housing crisis.
PodShare is a global housing network that provides affordable temporary housing to people from all walks of life. PodShare aims to provide co-habitation that “breaks down walls that over time could make one a more educated voter, kinder neighbor, empathetic employer, better collaborator, and grateful citizen.”
Read the full story here: Just Funded – PodShare
Lisa at Clearinghouse CDFI helped us bring affordable shared living to the heart of Santa Barbara on State Street. This is a bustling, expensive city that most cannot afford to visit, live, or work in. We are converting a sunglass shop to low barrier housing -- whether that be for someone visiting, figuring it out, or permanently relocating. I am grateful that Clearinghouse CDFI looked at the last decade of PodSharing and agreed we belong in this city, and at this building. Our partnership will bring something new and different to the city -- which has been embraced by planning and the State Street Master Planner. I really could not have crossed the finish line without Lisa; she was a champion of the concept. Thank you for the support and I look forward to locating more sites together!
- Elvina Beck, PodShare Founder
Financing Provided:
$1.54 MM
Location:
Santa Barbara, CA
Impact:
- Increases diversity and inclusion
- Provides inexpensive for short-term workers and travelers
- Provides ecological benefit of sharing resources
- Provides 20 co-living spaces for clients with incomes around 30%-50% AMI
Purpose:
Purchase and rehabilitation of retail space into temporary co-living spaces
Year Funded:
2022
