Overview
PadSplit was founded in 2017 with the mission to flip the script on affordable housing. With efficient design they leverage unused space in properties, generating greater profit for owners and more economical housing options for our members. Nationwide, there are just 35 affordable and available rental homes for every 100 extremely low-income families—those who either live in poverty or earn less than 30 percent of the median income in their area. Through thinking creatively about how we use space, Padsplit has created a unique approach adding more affordable housing units without waiting for new units to be built.
How We Helped
Padsplit was one of six companies selected to receive grant funding through the 2019 Reconstruct Challenge. The 2019 Reconstruct Challenge was a prize competition focused on the affordable housing crisis in the United States by funding the implementation and beta tests of innovations working to decrease the ancillary costs of housing in the Louisville and Southern Indiana area with the goal to prove out innovative models and help them scale.
