Word: condos
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...these condos would be removed from rent control permanently, and could be rented at high market rates. Landlords could also continue a trend to "condo rehab," extensively renovating buildings in the hope they will go condo, clearing apartments of poorer tenants when rents go up--as they inevitably will...
...look at who gains from 1-2-3. Fred Meyer, who calls himself the author of Prop 1-2-3, may certainly be motivated by a personal ideology linking freedom with owning a condo, but most other supporters ($56,000 strong, according to the 1988 State Campaign Finance Report) are motivated by profit. Not surprisingly, among the list of financial contributors who helped get this condo bill on the ballot are some of Cambridge's most notorious landlords...
Realtors like Meyer stand to gain quite a bit financially, since 1-2-3 would let the new condo owners sell their apartments back when they are no longer restricted by rent control. And owners of these previously rentcontrolled apartments also stand to gain because they would be able to rent at market prices, or resell for an amount considerably higher than the original purchase price...
...while Alstein theorizes about the reasons for slow condo sales, the buildings continue springing up on both sides of Mass...
...newcomer to the area--Shake, Rattle and Roll--seeks to capitalize on the Baby Boomers' nostalgia for 1950s memorabilia. Whether it succeeds in the market or not, perhaps the store's presence, located next to The Friendly Eating Place and down the street from the gleaming new condo complexes, is itself a metaphor for the changes that Mass. Ave. is undergoing...