Apartment owners desperate to convert their properties into condos may simply be able to pay up — a proposal that has been revived as The City searches for new ways to generate revenue.
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During the past decade, applicants and units entered in the annual condo-conversion lottery have doubled, yet the maximum number of winners has remained the same.According to the Department of Public Works, 366 individuals applied to convert nearly 1,100 units in 2001. In 2011, 681 people applied to convert more than 2,300 units. But under The City’s rules, only 200 conversions were allowed each year.
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URL: http://www.sfexaminer.com/topics/condo-conversion
