Between 2008 and 2012, Atticus LeBlanc, PadSplit's founder, purchased and renovated 550 affordable homes. Through this process, Atticus saw firsthand how slow and inefficient traditional housing programs were and knew something needed to change. Then, in a chance encounter in 2009, residents from a neighboring home asked if they could move into one of his properties and pay by the week.
Atticus recognized that shared housing could align incentives between real estate investors seeking better returns and those who couldn’t access traditional apartments.
The PadSplit model provides the fastest and most cost-effective method to create new affordable housing supply while also decreasing barriers to access. Today, PadSplit is the country’s largest shared housing marketplace explicitly designed for the workforce.