Word: condominium
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...Cambridge, for the last ten years, substance has ruled. The voters in this small city split fundamentally over two basic issues--continued controls on rents and regulation of condominium conversion. For more than a decade, almost every election flyer has featured discussions of those issues. Factions line up on each side, clearly defining their stands--the Rent Control Task Force boosts tenant's rights, The Cambridge Home Owners and Taxpayers Association demands that everyone on its slate of candidates vote against rent control. And the system works. For ten years, liberals have held tenuous majorities on the council, just enough...
...Concerned Cambridge Citizens (CCC) endorsed a slate of candidates for the office. What it didn't release were position papers or issue stances. We are "dedicated to dynamic government," they said, issuing calls for "intellectual open-mindedness." But they offered no position on rent control, no mention of condominium conversions. "We have no plans to issue a platform," Nancy Goetz, treasure of the CCC said last week...
...slate, (all three--Francis Duehay, Alvin Thompson and David Wylie have since withdrawn), there is no question that if the CCC slate does triumph rent control will be in trouble. The four incumbents for which the CCC will campaign all voted against rent controls and attempts to control condominium conversion, and none of the challengers picked by the group was willing or able to gain the support of the Rent Control Task Force. City council meetings might be more pleasant if the CCC were to succeed, when the votes were counted, but rent control would probably go out the window...
...Cambridge political maxim holds that any increase in the number of voters will aid pro-rent control candidates. That hypothesis may be slowly turning to myth as more condominium owners populate the city, but for now there are simply more tenants than landlords in Cambridge...
...near freezing day in Boston, Nick Deane, 35, sees his dream in jeopardy. Two years ago, for $265,000, the novice developer had bought an incomparable old factory building for conversion into 21 condominium apartments and several offices. The 19th century structure, designated a historical landmark because it has one of the oldest cast-iron facades in the Northeast, commands spectacular views of Boston. Every unit in the planned conversion was sold before Deane went to the bank for his building loan. With 10% up front from every investor in the building and all the cash he could pull together...