CITY COUNCIL STAFF REPORT
April 15, 2025 {{section.number}}g
APARTMENT VACANCY SURVEY
RECOMMENDATION:
Adopt “A Resolution of the City Council of the City of Coronado Adopting the 2025 Coronado Apartment Vacancy Factor Pursuant to Subsection 82.40.100(F) of the Coronado Municipal Code.”
BACKGROUND:
Subsection 82.40.100(F) of the Coronado Municipal Code states that the City Council shall not approve an application for conversion of an apartment complex into a condominium complex unless the City Council finds that “the vacancy factor in the City is not less than five percent of the total available apartment rental housing stock, determined in accordance with a resolution adopted by the City Council.” Consequently, City staff conducts an annual survey of all rental properties with three or more dwelling units to determine the City’s Apartment Vacancy Factor.
ANALYSIS:
Staff compiled a list of properties with three or more dwelling units and directly mailed surveys to property owners in both January and March of 2025. The information contained in the survey responses is used to calculate the Apartment Vacancy Factor.
The 2025 Apartment Vacancy Factor has been calculated at 3.4%. This calculation is based on responses from 1,089 of the approximately 1,680 apartment units that were surveyed in the City. This response accounts for 64% of the apartment units in Coronado.
Since the 2025 Apartment Vacancy Factor is less than 5%, applications for conversion of an apartment complex into a condominium complex cannot be approved by the City Council in accordance with Subsection 82.40.100(F) of the Municipal Code, except for those properties designated as a Historic Resource per Chapter 84.10 of the Coronado Municipal Code.
A review of apartment vacancy survey records indicates that the 2024 Apartment Vacancy Factor was 1.21% with a response rate of 75%. A 31-year history of the Apartment Vacancy Factor has been attached to the resolution as Exhibit A. The apartment vacancies in Coronado have not reached or exceeded 5% for more than 31 years.
FISCAL IMPACT:
There are no direct fiscal impacts associated with this report.
ALTERNATIVE:
The Council may decline to adopt the Resolution and provide further direction to staff.
CALIFORNIA ENVIRONMENTAL QUALITY ACT:
This activity is exempt from the requirements of CEQA pursuant to State CEQA Guidelines §15061(b)(3) because it can be seen with certainty that the action would not have the potential for causing a significant effect on the environment.
PUBLIC NOTICE:
No notice required.
ATTACHMENTS:
1. Resolution 2025-13
Submitted By: Community Development Department / Emily Pena