The Land Use and Housing Committee of the San Diego City Council has endorsed a proposed law aimed at preserving affordable housing in the city. Under this law, owners of apartment buildings with government rent restrictions would be required to notify the city, tenant groups, and low-income housing developers if they decide to sell their property.
According to a report by The San Diego Union-Tribune, this measure aims to prevent potential sales that could result in tearing down rent-restricted apartments and replacing them with market-rate housing once the restrictions expire. With over 22,000 rent-restricted units in San Diego, officials believe that preserving existing low-income housing is crucial for addressing the local housing crisis alongside incentives and legislation promoting new construction.
Modeled after similar laws in cities like San Francisco and Berkeley, this proposed legislation would grant qualified groups both a right of first offer and a right of first refusal for maintaining perpetual affordability within these apartments.
