East Palo Alto's largest landlord looks to sell properties | May 27, 2011 | Palo Alto Weekly | Palo Alto Online |

Palo Alto Weekly

News - May 27, 2011

East Palo Alto's largest landlord looks to sell properties

Wells Fargo, which took over 1,800 apartment from Page Mill Properties, searches for a new buyer

by Gennady Sheyner

For residents at the Newell Court apartments in East Palo Alto, change has become the new normal over the past two years.

This story contains 1083 words.

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Staff Writer Gennady Sheyner can be emailed at gsheyner@paweekly.com.

Comments

Posted by observer, a resident of Greenmeadow
on May 27, 2011 at 10:50 am

is this the same complex where a fierce fire recently broke out in a top floor unit that was at least on the outer perimeter of the buildings and thus easily accessible to the firefighters?


Posted by Hmmm, a resident of East Palo Alto
on May 27, 2011 at 4:49 pm

Yes, Observer, it was. There have been follow up articles on the fire & its cause. Thankfully, not only is MPFPD wonderful, the fire accessible & no one was hurt, but the management company & WF are a bit better than Page Mill Properties & their henchpeople. That was a reign of disorganized terror!


Posted by HUTCH 7.62, a resident of Old Palo Alto
on May 27, 2011 at 10:39 pm

I'd sell that mold infested complex as fast as I could too. BTW I lived in the 3rd floor apt that burned down... had to leave cause the black mold was caused me to get Pneumonia


Posted by Another Landlord, a resident of East Palo Alto
on May 28, 2011 at 3:55 am

With the new Rent Stabilization Ordinance only allowing rent increases of 80% of CPI they will have a hard time finding a buyer. EPA's policies towards investors will ensure that the area returns to the blight we saw in the 90's.


Posted by Hmmm, a resident of East Palo Alto
on May 28, 2011 at 3:42 pm

Hutch, that's awful - I am so sorry to hear it. One of the duplexes I know of had a major mold issue some years ago & the residents moved out. Frankly, I doubt I could live in one of those apts - too much noise, so little privacy, as well as all of the other problems.


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