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.

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

Comments

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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?


Like this comment
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!


Like this comment
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


Like this comment
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.


Like this comment
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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