Mountain View approves razing rent-controlled units for $1.5M homes

At Tuesday night’s meeting, the Mountain View City Council voted 6-0 to allow the Morgan Hill-based developer Dividend Homes to tear down 59 rent-controlled apartments at 2310 Rock Street for 55 market-rate townhouses. In December, city council approved an initial plan from the developer to demolish 20 rent-controlled units at the Royal Viking Apartments — about a half of a mile down the road from 2310 Rock Street — to build 15 for-sale townhouses expected to cost about $1.3 million. Even with those additional measures, residents of the 2310 Rock Street apartments say that staying in Mountain View, which has a median rental price of $3,235 according to RentCafe, will be nearly impossible.

Source: www.mercurynews.com