Planning Commission turns down condo conversion
Original post made on Mar 3, 2009
Read the full story here Web Link posted Tuesday, March 3, 2009, 4:20 PM
on Mar 3, 2009 at 8:34 pm
I'm a layman in this area and only know of this situation based on this article. I'm interested in what others have to say about the matter.
Most of us would obviously want affordable housing for our seniors but there are some interesting questions here.
From purely a property rights prospective, after the expiration of the rent control contract, isn't this de facto public housing on private property and a quasi form of eminent domain control?
The property owner is apparently making plans to sell his property, be it in whole or pieces, after the expiration of the rent control agreement. Isn't that his right?