In San Francisco, legislation aimed at stopping conversions may actually increase evictions of renters, as more groups enter into 'tenancy-in-common' agreements.
Originally, rent control was seen as a method to preserve affordable rental apartments, but as real estate prices have escalated, "many S.F. residents retain their in-town rent-controlled apartments while buying country homes, thus keeping cheap apartments from people who truly need them."
"Speculators and aspiring home-buyers are lining up to take advantage of the huge gap between the relatively low cash value of rent-controlled apartment buildings and the high value of privately owned apartments."
New legislation to reduce the number of condo conversions, "By reducing the possibility that owners can convert their tenancy-in-common units to condominiums...may actually increase demand for a type of pseudo-condominium loan that allows owners to live in a tenancy-in-common agreement without being tied to their partners financially."
Now, "buying a small apartment building in San Francisco these days only makes financial sense if you're planning to kick out the tenants and create a tenancy in common...Until now, people living in larger apartment buildings have been relatively safe from eviction. That's because it's extremely difficult to round up more than two or three home-buyers to jointly take out a tenancy-in-common loan."
FULL STORY: Unintended Evictions
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.
Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.
Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.
MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.
Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie