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-Tribune reported. 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.
Apartment buildings for sale
Check out the latest properties available on apartmentbuildings.com
WYNWOOD 22ND & NW 2ND
Miami, FLFlorida & Gulf Coast + Apartments
Learn MoreListing Status: Available Listing Type: Highest & best offer Price: $15,300,000 No. of Units: 68 Year Built: 1960 Building Size: 54327 Sq ft Lot Size: .97 Acres Opportunity Zone: No Price per unit: $225,000 
Westview Commons
Davie, FLFlorida & Gulf Coast + Apartments
Learn MoreListing Status: Available Listing Type: Highest & best offer Price: $9,250,000 No. of Units: 40 Cap Rate: 6.22 Year Built: 1986 Building Size: 31160 Sq ft Lot Size: 2.27 Acres No. of Stories: 2 Opportunity Zone: No Price per unit: $231,250 
14011 Sherman Way
Van Nuys, CACalifornia & West + Apartments
Learn MoreListing Status: Available Listing Type: Highest & best offer Price: $2,995,000 No. of Units: 13 Year Built: 1963 Building Size: 9328 Sq ft Lot Size: 12366 Acres No. of Stories: 2 Opportunity Zone: No Price per unit: $230,384
- ◦Policy/Gov't
