News Highlights

Following a recent trend of converting apartment complexes into individual properties for sale, the city has seen its condo population more than double and there are plans for more on the horizon.

In light of the increase, the Tracy Planning Commission has forwarded some draft ordinances to the City Council that would establish a set of standards which would need to be met as part of the application for conversion.

The rules would apply to residential, industrial and commercial property conversions, and include such items as tenant rights, sound and noise standards, individual utility meters, laundry facilities and trash collection, according to a city staff report.

The city needs to put various policies in place to encourage the development of work force housing, while meeting the needs of entry-level housing as well, according to city documents.

One of the goals is to create a diversity of housing opportunities that satisfy the physical, social, and economic needs of Tracy residents, city documents stated.

The introduction of the residential condominium conversion ordinance and the revisions to the existing condominium ordinance for new units could assist the city in reaching these goals.

The council is expected to discuss the possible ordinance change at a meeting in December.

Last year, the council approved the conversion of the 132-unit Tracypark Apartments into condominiums.

About that time, the city was contacted by Sycamore Village Apartments regarding a possible switch to condos and received a conversion application last April.

Apartments converting to condos has been a nationwide trend for a few years, according to Brent Gleeson, president of the Web site NewCondosOnline.com.

But recently, the number of conversions have dropped thanks to a cool housing market and restrictions on builders.

California has been leading the condo conversion charge happening across the country, Gleeson wrote in an e-mail.

This has resulted in too many apartment buildings being purchased and resold as condos. Renters have been displaced and the affordable housing supply has been depleted.

On the bright side, Gleeson said conversion can redevelop a blighted area, provide opportunities for first-time home buyers, and serve as a tax incentive for a city.

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