May 14, 2007

Age-Old Story of Renters vs. Landlords

It's a battle that has been fought over the years, decades and centuries. Even the title, landlord, sounds older than dcbubble or even older than the Internet.

In the latest round, the Tenacity Group is battling the tenants at the Norword Apts. in Shaw at 5th and P Sts. "When we started complaining about the conditions in the building, they (the owners) said, 'Oh, it's time to go condo,'" Norwood tenant Randy Green told the AP as reported by the WashExam. Yikes!! This sounds truly awful for those that live there.

As for the property owners, its about maximizing thier investment. Most of whom are fat cats, but some are old widows on fixed, albeit probably high, incomes. Besides this is a capitalist country remember.

Tenacity obviously knows its game. They probably call themselves Tenacity for a good reason.

Given the financial collars placed on DC (no commuter tax, height limit), its hard to forgo tax revenue for low-income apartments, especially when others want to pay double and triple per square foot. Afterall, Shaw is gentrifying too.

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