cbslocal – excerpt
The tactic has worked for some working-class tenants South of Market.
Supervisor Jane Kim told KCBS that “For every two units of affordable housing we build, we lose one rent-controlled unit here in San Francisco. And, rent-controlled units are our housing stock for middle class and working class residents.”
Teddy Ortega has lived in the building for forty years.
“I cannot afford to move out, because rent is skyrocketing, it’s expensive. It’s terrible. That’s why I don’t know where to go. It relieves my worries now because of the community land trust,” Ortega said.
The land trust ends up owning the land, while the residents inside formed a co-op to buy the building… (more)