Nearly two years after the Pacific Palisades fire destroyed roughly 6,000 homes, only 50 had been rebuilt and cleared for occupancy as of early October. Into that slow-moving recovery steps PacQuest Homes, a company founded by Fred Cordova III, who is originally from the Pasadena and Altadena area, that says it can coordinate a rebuild for property owners from design through move-in, and is pitching its model directly to residents at a community meeting this week.
Five Paths for Property Owners
PacQuest describes five possible paths for owners weighing what to do with a burned lot, according to the Santa Monica Daily Press. Owners can rebuild and return home with PacQuest managing the process, rebuild before selling with the company overseeing development and sale, sell their lot directly to PacQuest, retain ownership while they consider a later decision, or contribute qualifying lot equity to a fund that is developing multiple properties. The company says it provides a coordinated rebuilding platform for owners choosing to return, sell, or retain a financial stake in the community's recovery.
Fred Cordova III, who serves as PacQuest's founder and chief executive and lives on Palisades Beach Road in Santa Monica, said every property owner's situation is different. “Some families want to rebuild and return home,” he said, according to the same report. His wife, Christina Cordova, teaches at Palisades Charter High School, and the couple's personal ties to the community run through the company's pitch: Cosbey Watson, PacQuest's vice president of development, said he hopes Corpus Christi School and its church will return to the Palisades, and that the homes built under the program will contribute to the community's next chapter.
Targeting $450 a Square Foot
Patrick Norton, PacQuest's vice president of investor relations who grew up in Pacific Palisades, said the company is targeting about $450 per square foot in hard construction costs for custom-standard homes, compared to costs that can exceed $1,000 per square foot on individually managed custom builds. Norton said community relationships are central to why residents wanted to live in the Palisades in the first place, and argued that handling one custom home at a time cannot meet rebuilding needs on a reasonable timeline, per the Santa Monica Daily Press report.
PacQuest says it combines production homebuilding methods with custom home design, using repeatable floor plans with varying exterior treatments and finish packages. The company intends to reduce expense and uncertainty through standardized plans, coordinated purchasing and consistent construction teams, and it prioritizes fire-resistant design and construction features. PacQuest previously told the Palisadian Post it aims to build 500 homes over the next five to six years, with each home targeted to take less than nine months to build.
Two Funds Pool Investor Capital
Beyond individual rebuilds, PacQuest has structured two funds designed to pool investor capital and qualifying property equity for construction across multiple lots, the outlet's report notes. Fund I is a $10 million vehicle aiming to build 12 homes in a year, while Fund II is a $30 million fund targeting five construction starts a month over 36 months, for a total of 180 homes, with a planned exit within four years. Eligible owners may exchange qualifying lot equity for a stake in a fund, subject to offering terms, and the funds may make cash distributions over their term.
PacQuest's investor materials account separately for land, financing and other project expenses, and fund projections depend on financing, permitting, construction and market conditions. Investments are limited to verified accredited investors and can result in a loss of capital. Owners considering the Build & Sell path may wish to consult independent tax, legal and financial advisers.
Towne Hall Meeting to Lay Out Options
PacQuest will present “Let's Bring Pacific Palisades Home!” at Towne Hall in Pacific Palisades, held in cooperation with Palisades Towne Hall, Posse 4 Positivity and the Pali Long Term Recovery Group. A community gathering starts at 5 p.m. with complimentary In-N-Out burgers, followed by presentations beginning at 6:15 p.m. covering rebuilding and recovery. PacQuest Chief of Staff JoAnn Horeni said the company aims to help people after tragedy and restore what has fallen.
Sam Lagana, who serves as PacQuest's community ambassador, supports residents by listening, connecting them with resources and helping them weigh the longer-term effects of their decisions. Lagana said the rebuilding effort is intended to benefit multiple generations. PacQuest says it will ultimately be evaluated by completed homes, actual costs and owners' experiences, measuring success by whether families can again make a life in the community.
Recovery Resources Still Catching Up
The scale of what families are navigating extends well beyond construction costs. Jessica Rogers, executive director of the Palisades Long Term Recovery Group, said wildfire survivors face displacement costs and complex insurance and rebuilding decisions, and that survivors are paying millions of dollars out of pocket while juggling insurance, mortgages, temporary housing and construction expenses. Her organization helps households address needs that remain after insurance and other assistance runs out.
The recovery group joined Global Empowerment Mission and World Renew for an unmet-needs workshop at The Pali Hub from Oct. 12 through Oct. 23, designed to document remaining needs and inform requests for recovery resources. Separately, Rep. Judy Chu's office announced on Sept. 30 that FEMA had released $6.6 million in previously approved disaster case management funding to serve Eaton and Palisades fire survivors.
The broader rebuilding picture shows real but uneven momentum. A separate report found that almost 2,000 permits have been issued across both the Palisades and Eaton fire zones, with more than 340 rebuilding projects confirmed underway in the Palisades, according to HuffPost. That outlet also reported that the first ground-up home rebuilt in Pacific Palisades after the fires received its certificate of occupancy on Nov. 21, 2025, with a permit process that took roughly two months and construction completed in about six months. Other rebuilders are testing their own methods to speed the process: according to Architect Magazine, the RESET program targets construction costs of $600 to $700 per square foot and schedules of 12 to 16 months for typical slab-on-grade homes, using mobile factories that build on site with cold-formed steel structural panels aimed at speeding construction with noncombustible materials.
