Mountain View last week adopted a policy ensuring that rent-controlled apartments demolished for new rental housing are replaced with units deemed affordable for lower-income tenants.
Rents in those units will now be limited to $2,635 in 2022, according to a city report. That’s compared to the city’s estimated average market-rate rent of $4,137 for a one-bedroom.
“Taking concrete steps to make sure Mountain View remains an economically diverse community that’s open to all I think is fantastic,” said resident Tim Mckenzie. When developers tear down apartments protected under the law to build townhomes or condos or townhomes, the new units also must be affordable. Before SB 330, the Mountain View City Council in 2018 and 2019 approvedthat razed 79 rent-controlled apartments and replaced them with market-rate townhomes, potentially displacing around 100 residents.
On Tuesday, city employees said there are at least two new projects in the development pipeline for which rent-controlled units could be replaced with deed-restricted rentals under the new policy.
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