From Lotto Riches to Local Roots: Edwin Castro Reinvests in Burned Altadena
Altadena’s Powerball winner is buying fire-ravaged lots with a community-first mission.
When Edwin Castro won the $2.04 billion Powerball jackpot in November 2022, most expected him to disappear into luxury. Instead, he stayed rooted in Altadena, the town where he bought the winning ticket, and is now making headlines again. This time, it’s for buying up fire-damaged properties in the very community that raised him
.Castro and his brother Jesse have formed Black Lion Properties LLC, a private firm that has quietly invested nearly $9 million to acquire at least a dozen burned lots in and around the Eaton Fire zone.
“They love and care about the Altadena community and saw an opportunity to invest in it. 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. These purchases will help some of them while keeping ownership of the property local.”
— Edwin Castro’s representative
Black Lion Properties LLC was officially registered in August 2024, with a filing address in Pasadena. The company is local in both its formation and intent, with documents listing its base at 57 Palmetto Drive. Unlike most developers and holding companies operating in fire zones, this one has no website, no public-facing portfolio, and no outside investors. Everything about it signals a quieter, more deliberate approach that remains close to home
According to property records, the company has so far limited its acquisitions to lots in residential areas that were hardest hit by the fire.
According to property records and local reporting, Black Lion Properties LLC has purchased at least 11 burned parcels within the Eaton Fire burn zone. This makes them one of the most active multi-lot investors in the area. That accounts for approximately 25 percent of all parcels acquired by similar investment LLCs since the fire. They are part of a small group, including Ocean Dev Inc. and Iron Rings Altadena, that have acquired multiple lots. This stands in contrast to the many buyers who have purchased only a single property
.Reactions have been mixed.
Some see it as a hopeful model. A local success story using his winnings to help rebuild a community that is still reeling. Others, particularly renters and displaced residents, are concerned that land consolidation, even by a familiar face, could reshape access to housing and opportunity over time.
For now, there is no public redevelopment plan. Castro’s team has said the company is exploring ways to support residents and recovery efforts, but specific programs have yet to be announced.
Still, in a landscape flooded with anonymous LLCs and speculative buyers, some find comfort knowing that at least one familiar name is behind the deeds.