Today lawmakers will take their first vote on a proposal to limit condo conversions by allowing cities to set caps on the number that occur each year. The battle has just begun for local developers and the affordable housing activists who fear a rental crisis is on the rise. While a similar proposal was rejected last year, our current market conditions call for some sort of regulation to take place! Click here to read more.
On another note, in the downtown area we are now hearing of new construction projects converting back to apartments. The most recent apartment conversion is Expo 62 and just yesterday I heard from a little birdie that Olive8 might be the nextstay tuned!