1 Memorandum
Date: February 2023
From: Sahithi Pusarla, Planner I
Joel Pullen, Planning Manager
RE: Residential Condominium Conversion Cap and Unit Allocation Tracking
The purpose of this memo is to document 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.
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 tracking such allocations and reporting to the public.
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
2018 0
2019 0
2020 0
2021 0
2022 0
For CY 2023, the available allocation is 100 units. The unused allocation from CY 2022 of 100 units to is allowed to be carried over and used in CY2023 because the vacancy rate data available in February 2022 was above five percent (5.1%).
Attachment: Annual Conversion Cap and Unit Allocation Tracking (updated February 2023)
2 Residential Condominium Annual Conversion Cap and Unit Allocation Tracking (updated February 2023)
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)
2018 100 0 0 100 NO 0 41
2019 100 0 0 100 NO 0 1702
2020 100 0 0 100 YES 0 1023
2021 200 0 0 100 YES 0 3504
2022 200 0 0 100 YES 0 8685
2023 200 TBD TBD TBD TBD TBD TBD
1 Lotus Common (4 units)
2 Mission Court Senior Apartments (90 units), MidPen Stevenson Place Apartments (80 units). 3 Fairfield Residential (102 units)
4 City Center Apartments (60 units) Innovia Wrap Around Apartments (290 units) 5 Fairfield Residential (422 units), Palmia at Mission Falls (171 units) and Walnut Liberty Mixed Use Apartments (275 units)