East Bay Area Real Estate

An article in the SFGate.com says Oakland’s City Council has decided to send the matter to a special commission studying Oakland housing issues. The ordinance would dramatically increase the number of rental units landlords can convert each year to condominiums.

Councilwoman Desley Brooks, a co-author of the condominium conversion ordinance that would have allowed up to 800 conversions per year, said the ordinance was inadequate and faced potential litigation.

The ordinance’s odds of being adopted grew dimmer in the weeks leading up to this morning’s vote as lobbying from landlords and tenant advocates intensified. Members of Mayor-elect Ron Dellums transition team weighed in telling council members individually that the mayor-elect didn’t want an ordinance passed that would displace a large number of low-income tenants.

Read more about Oakland’s Controversial Condo Ordinance at SFGate.com – Source : Christopher Heredia, Chronicle Staff Writer