Page Mill Properties, through its affiliates, has filed yet another lawsuit to undermine tenant rights in East Palo Alto. The latest lawsuit seeks to remove from the ballot some amendments to the local rent law that would plug up loopholes ruthlessly exploited by Page Mill.
Page Mill's aggressive and litigious conduct has become an embarrassment for Calpers, one of the major funders behind Page Mill. Calpers committed $100 million to Page Mill's acquisitions in East Palo Alto where the company has been systematically evicting tenants and imposing huge rent hikes. As a public employee pension fund, Calpers' involvement is troubling, to say the least. Employee pension funds are being used for investments that undermine affordable rental housing for working people, including Calpers members.
The question remains whether Calpers will do anything more than express concern for the people of East Palo Alto.
In the meantime, expect more litigation from Page Mill and its related entities. The company's strategy appears to be to litigate the city and county into submission. We'll keep you posted.
No comments:
Post a Comment