Tenants at the airport have complained about substantial rent hikes at the municipal airport. The five-member committee will represent various interests in the Otay Mesa community.
The San Diego City Council may consider demolishing World War II-era buildings on the southwest side of the airport, which tenants complain are dilapidated facilities for which they are now overpaying.
The city raised rents in December, in some cases nearly doubling monthly payments and tripling security deposits. City leaders counter that rents have been kept artificially low, as the city has delayed plans for developing its 900 acres. Plans for a cargo airport at the site fell through last fall.
The city, responding to complaints, has allowed tenants to gradually pay the full amount of their new rents over six months. Manufacturing companies, industrial parks and truck-storage lots areattracted to the area by lower-cost land.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
