Iam Rhiannon 
Member since Apr 28, 2017


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Re: “Condominium Conversions in Oakland Displace Renters and Undermine Affordability, According to Tenants and Housing Experts

Berkeley has a loophole in its condominium conversion ordinance that allows new high density rental housing to convert to condos as long as they do it before any units are rented. At least 90% of the projects approved as rentals in the past several years were never intended as rentals, and have been converted to condominiums. Most of these projects were granted a 35% density bonus in return for 5-10% below market rate rentals, but were not required to 1) put all units, low-income and market rate, on sale to the public; and 2) increase the percentage of moderate income units available. Instead they are being allowed to "condo" some while renting out the required below market rate units.

At least Oakland isn't that sneaky.

Posted by Iam Rhiannon on 04/28/2017 at 12:10 PM

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