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Page Mill Properties Goes into Receivership
Latest news on situation in East Palo Alto, where tenants have been living under the rule of an unethical landlord for years.
East Palo Alto's biggest landlord missed a $50 million balloon payment to their bank last month...now the situation is perplexing enough but there is more news. On September 9, the San Mateo County Superior Court appointed Southern California based Ward Realty Advisors as receiver for the 1800 units. That company will now get t a property manager to take over running the buildings, and we hear that it will be early next week.
On September 1 the same court granted plaintiff Eric Oberle's motion for a preliminary injunction in a class action lawsuit against Page Mill. That was the injunction that barred Page Mill from collecting or enforcing rent increases that do not comply with East Palo Alto rent stabilization rules. This marked the beginning for the end for Page Mill. After all the money they spent on expensive lawyers, they now say (Or so one can read in corporate media) that the problem is "the economy".
So the tenants have endured harassment, eviction without justification, and and horrible living conditions .The disrepair as reported elsewhere on indybay is appalling. Thank goodness the tenants organized to fight the landlord. They will have to continue to keep up their work until the damage that has been done is repaired. Unfortunately, the tenants who are long gone will never recover from what they suffered while living under Page Mill's rule.
On September 1 the same court granted plaintiff Eric Oberle's motion for a preliminary injunction in a class action lawsuit against Page Mill. That was the injunction that barred Page Mill from collecting or enforcing rent increases that do not comply with East Palo Alto rent stabilization rules. This marked the beginning for the end for Page Mill. After all the money they spent on expensive lawyers, they now say (Or so one can read in corporate media) that the problem is "the economy".
So the tenants have endured harassment, eviction without justification, and and horrible living conditions .The disrepair as reported elsewhere on indybay is appalling. Thank goodness the tenants organized to fight the landlord. They will have to continue to keep up their work until the damage that has been done is repaired. Unfortunately, the tenants who are long gone will never recover from what they suffered while living under Page Mill's rule.
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This seems to be the perfect opportunity for tenants to meet, organize, begin to property manage themselves and propose to the city and county to have a tenant run apartment complex. The original developers and owners have bailed on their gamble, taken the losses and profits that the project and their gamble offered. Now all that is left is the tenants and the housing and maintenance.
This is where government could truly be helpful by loaning capital to tenants to buy the property and self maintain their apartments through managed low profit rents. Any profit would go back into refurbishing capital to maintain the property. The bank is paid off and the tenants are removed from the usury of the banks and wealthy property holders. The tenants could discover direct democracy first hand and become truly involved in promoting their own community wellbeing.
Capitalism is a failure within closed systems where the consumptive process of burning up resources has no where to go without consuming itself. This leaves us with one option if we are to survive - a maintenance and sustainability culture where the concept of profit is an anachronism. The extraterrestrial concept of profit needs to be replaced with the earthian concept of sustainability within flexible, adaptive life systems. Money moves from "tyrant" to "tool", and civilization moves from a pyramid scheme for a few to a flat hierarchy (performing function not authority) of direct democracy for the many.
This is where government could truly be helpful by loaning capital to tenants to buy the property and self maintain their apartments through managed low profit rents. Any profit would go back into refurbishing capital to maintain the property. The bank is paid off and the tenants are removed from the usury of the banks and wealthy property holders. The tenants could discover direct democracy first hand and become truly involved in promoting their own community wellbeing.
Capitalism is a failure within closed systems where the consumptive process of burning up resources has no where to go without consuming itself. This leaves us with one option if we are to survive - a maintenance and sustainability culture where the concept of profit is an anachronism. The extraterrestrial concept of profit needs to be replaced with the earthian concept of sustainability within flexible, adaptive life systems. Money moves from "tyrant" to "tool", and civilization moves from a pyramid scheme for a few to a flat hierarchy (performing function not authority) of direct democracy for the many.
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