Bill Would Preserve Affordability in 22K San Diego Apartments
The Land Use and Housing Committee of the San Diego City Council endorsed a proposed law that would require the owners of apartment buildings with government rent restrictions to notify the city, tenant groups and developers of low-income housing if they decide to sell.
The San Diego Union-Tribune reported that the goal is possibly preventing a sale to someone planning to tear down the rent-restricted apartments and replace them with market-rate housing when the restrictions expire.
San Diego has 22,000 rent-restricted apartment units, the Union-Tribunereported. City officials say preserving existing low-income housing is just as important to solving the local housing crisis as incentives and legislation to spur more new construction.
Modeled on similar legislation in San Francisco and Berkeley, the law would give both a right of first offer and a right of first refusal to groups the city deems qualified to keep the apartments rent-restricted in perpetuity.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).