In a move likely to have significant impacts on the trend of converting low-rent apartments to condominiums, the City Council on Tuesday took up as a study session topic an all-but-forgotten 1979 ordinance designed to protect apartments.
Residents approved the 1979 ordinance to protect the city’s apartment stock, which was quickly being sold as condos. The practice has become popular and problematic in recent years as well, said Elaine Costello, community development director, and because certain conditions have been met the ordinance has kicked in once again.
The ordinance says that if the number of apartments in the city dips below the 1979 number of 15,373, conversions of apartments to condos will not be allowed — thereby protecting the city’s affordable apartments. A conservative estimate by city staff found that the city is now actually below the 1979 number, at 15,120.
The 1979 ordinance doesn’t address the current trend of demolishing old apartments to make way for new condo buildings, but it does prevent an existing building from being owned by its dwellers as a condo.
Several speakers during the public comment period commended the city council for finally counting the city’s apartments and informing the public — something the 1979 ordinance required the city to do.
The old ordinance was discussed because the council is slowly drafting a new condo conversion ordinance in case the number of apartments rises to allow conversions once again.
The new ordinance includes a requirement for apartment owners to provide relocation expenses equaling three months’ rent for those displaced by condo conversions.
E-mail Daniel DeBolt at ddebolt@mv-voice.com
