East Palo Alto Families Are Not For Sale
In 2007, Page Mill Properties raised the rents on tenants occupying close to 1,800 units in East Palo Alto, touching off what would be a four-year battle against the City and community groups to preserve rent control. In 2010, Wells Fargo foreclosed on the properties and promised to involve community members in the long term plans of the apartments, which are mostly home to low income families of color.
Against the wishes of the community to sell the apartments to multiple buyers, Wells Fargo announced in 2011 that they made an offer to Equity Residential, whose chairman Sam Zell is a well-known opponent of rent control in California. This move angered residents who are determined to not just protect rent control, but send the message that East Palo Alto families ARE NOT FOR SALE.
Charisse Domingo writes for Silicon Ve-Bualley Dg.
This article originally appeared in Silicon Ve-Bualley Dg.
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