SAN FRANCISCO — Strapped for cash, the city has spotted a potential extra spot of revenue in the long line of TICs waiting to convert to condos: Allow them all to jump the line and skip the lottery — just this once, and for a fee.
Last we heard, the line to condo-convert was getting so long that a tenancy-in-common that got in line in 2010 would have to wait until 2034 before being allowed to convert to condos, a length of time that some would hysterically consider just way too freaking long (note that only 200 are allowed a year). However, if this new proposal goes through, and it’ll need either voter or Board of Supervisors approval to do so, we’re talking 2,030 individual units that just might be willing to fork over the cash to never hear or speak of the stinkin’ condo lottery again. Could anyone ever be more excited to pay the city more money?
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