Quote:
Originally Posted by LouisVanDerWright
It wouldn't require a PD amendment to change from condo to apartment. The city only refers to them as "dwelling units" and doesn't care if you sell them, lease them, or leave then vacant.
|
Understood, but generally speaking your for-sale DUs are going to be much larger in square footage than for-rent DUs. If you wanted to revise strategy from for-sale to for-rent, you're going to add units to reduce size.
Over a certain square footage threshold you don't get any more rent, so your rent/sf goes down making the project unfeasible.
As I said, I don't know how the PD was written in terms of DU counts so I don't know whether they'd need to revise to change to rentals. Also an unknown - I don't know whether a revision would necessitate compliance with a newer rule.