Memorandum
Date: February, 2022
To: Planning Commission
From: Hang Zhou, Planner II
Via: Joel Pullen, Planning Manager
RE: Residential Condominium Conversion Cap and Unit Allocation Tracking
The purpose of this memo is to inform the Planning Commission of the current status of used and unused residential condominium conversion unit allocations pursuant to the Zoning Ordinance. This information is also made available to the public on the City’s website and at the Development Services Center. No action is required by the Planning Commission at this time.
Background: Pursuant to Fremont Municipal Code (FMC) Section 18.190.060, the Residential Condominium Conversion Ordinance (“Ordinance”) provides a standard 100-unit conversion allocation, or cap, per calendar year (“CY”). The intent of the standard is to ensure the availability of rental apartment stock by balancing rental and ownership housing within the City. Pursuant to the Ordinance, the Planning Commission is authorized to grant limited discretionary increases above the 100-unit allocation for any particular CY if certain specified conditions are met. Discretionary increases include: 1) potential roll-overs of any unused unit allocations from an immediate prior CY if the apartment vacancy rate is greater than five percent; or 2) borrowing up to 20 units in allocations from future years. To implement this measure, the Planning Division is charged with reporting to the Planning Commission and the public allocations for the current CY and the following four CYs, and the number of conversion applications and rental units produced in the current CY and previous five CYs.
Residential condominium conversion applications are only accepted for processing from March 1 to March 15 of each CY. A summary on the number of applications received in the past five years follows; a more detailed list is provided in the attachment.
Calendar Year Applications
2017 0
2018 0
2019 0
2020 0
2021 0
For CY 2022, the available allocation is 100 units. The unused allocation from CY 2021 of 100 units to is also allowed to be carried over and used in CY2022 because the vacancy rate data available in February 2022 was above five percent (5.2%).
Attachment: Annual Conversion Cap and Unit Allocation Tracking (updated February 2022)
1 Residential Condominium Annual Conversion Cap and Unit Allocation Tracking (updated February 2022)
Calendar
year Allowance
# Applications
submitted
# of Units Allocated or
Approved
Unused
Allocation
May Unused
Allocation be
Carried
Over?
# of Units
Actually
Converted
# of
Produced
Units
(# of apartment units
available for conversion to
condominiums)
(Residential
condominium
conversion
applications)
(100 units max, unless unused
allocation is carried over from
a previous calendar year or a
discretionary increase is
permitted)
(Apartment Vacancy
Rate>=5%)
(New
apartment
units, finaled)
2017 88[1] 0 0 88 NO 0 0
2018 100 0 0 100 NO 0 4[2]
2019 100 0 0 100 NO 0 170[3]
2020 100 0 0 100 YES 0 102[3]
2021 200 0 0 100 YES 0 652[4]
2022 200 TBD TBD TBD TBD TBD TBD
2023 TBD TBD TBD TBD TBD TBD TBD
2024 TBD TBD TBD TBD TBD TBD TBD
2025 TBD TBD TBD TBD TBD TBD TBD
2026 TBD TBD TBD TBD TBD TBD TBD
[1] Calendar year reduction due to approval of Camden Village Apartment Conversion in CY 2012. [2] Lotus Common (4 units)
[3] Mission Court Senior Apartments (90 units), MidPen Stevenson Place Apartments (80 units) [3] Fairfield Residential (102 units)
[4] City Center Apartments (60 units), Innovia (290 units), Aya Apartments (302 units)
2