Home News Rent prices tripling in an LA Chinatown apartment building means residents face possible homelessness

Rent prices tripling in an LA Chinatown apartment building means residents face possible homelessness

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The Los Angeles City Council will vote today for plans to buy 124 Hillside Villa apartments in Chinatown.

The pending city council vote has been held for two years, during which many low-income residents have urged the city to: Buy a building From the current owner, the Botts family.

Hillside was previously under affordable contracts with low rents for the past 30 years. However, once the contract expires, Botts can raise the price according to the market rate.

Tenant protesters Tom and Chloe Bottz Rents for some Hillside residents have doubled and even tripled. The pair’s plan to raise rent provides a “three-day notice” to at least six tenants to repay rent that tenants may have rented before the start of the pandemic dating back to February 2020. It started in January 2021.

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One of the residents, Marina Malouf, 66, shared that she and her husband have lived in this building for the past 25 years. They paid a total monthly rent of about $ 950, but now that number has skyrocketed to $ 2,660, excluding parking and storage fees.

Maalouf says the new amount exceeds the overall monthly income. In other words, if the council does not intervene, there is no choice but to move.

The council’s proposal, which will be considered today, includes a reserve loan of approximately $ 46 million to acquire the building and revive affordable contracts for the next 55 years.

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Some other issues that have not yet been addressed include valuing the building, inspecting the property, and deciding how the city will acquire the property that the landlord is not interested in selling. increase.

For many of the protesting tenants, today’s council vote can mean the difference between having a place to live and being kicked out on the streets of LA.

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Featured image via Brett Sayles

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