Since winning a $2.04 billion Powerball jackpot, Edwin Castro has emerged as a significant investor in Altadena, purchasing over a dozen burned-out homesites for $8.9 million. His company, Black Lion Properties LLC, aims to give back to the local community, helping some residents affected by recent fires to start anew while preserving local ownership. Despite being a small percentage of total destroyed homes, Castro's investments could spark a trend in land sales across the area, as many former homeowners choose to sell rather than rebuild due to costs and complexities.
"Many people who were affected by the fires in Altadena cannot or do not want to rebuild and aspire to move on and start over elsewhere."
"They love and care about the Altadena community and saw an opportunity to invest in it."
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