Hollister
– The City Council will discuss possible guidelines for
apartment-to-condominium conversions at its meeting Monday.
Hollister – The City Council will discuss possible guidelines for apartment-to-condominium conversions at its meeting Monday.
In February, the council voted to bring a temporary halt to these conversions, which some say are further squeezing Hollister’s already tight rental market.
According to city staff, Hollister’s rental vacancy rate is just 2.1 percent – far below the 5 to 6 percent that is considered healthy.
Forty-four apartment units in Hollister were approved for conversion to condominiums between mid-November and the end of January.
Construction allocations have been issued for 312 new apartment units, according to city staff, but those can’t be built until the moratorium on new sewer hookups is lifted. The moratorium is expected to end shortly after Hollister’s new wastewater treatment plant is completed in 2008.
The conversion moratorium is currently scheduled to last until Feb. 3, 2008, but City Manager Clint Quilter has said it will end as soon as the council approves long-term plans.
The city Planning Department has prepared a list of possible elements to include in a condo conversion ordinance, including requirements for tenant relocation and notification, as well as criteria for approving conversions.
After receiving direction from the council on Monday, the Planning Department will prepare an ordinance with an expected approval date of Sept. 4.
The council will meet at 6pm Monday in City Hall.
