Burlingame City Council Votes To Buy Peninsula Apartment Complex

BURLINGAME, CA -- The Burlingame City Council voted during its most recent meeting to begin the process of buying a local apartment complex with between 100 and 150 units so that the building can be use to provide affordable housing for residents.

During its Dec. 4 meeting, the Council voted 4-1 to begin the process, with Councilmember Ann Keighran casting the sole 'no' vote.

The property is slated to go to market this week, and if purchased by the city, rents of the units would be reserved for those making between 60% to 120% of the area median income. For those currently earning more, rents would be brought near the market.

As renters move out of units and new residents move in, rents would be reset again in the preferred range designed to accommodate teachers, city workers and other middle income earners, according to the city's plan, as reported by the Daily Journal.

There's no guarantee, however, that the City of Burlingame will submit the winning offer for the property, as the city doesn't have an exclusive negotiating window with the owner.