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SAN FRANCISCO (KCBS)— Marla Knight has called her two-bedroom apartment in North Beach home for the last 48 years. She raised her kids here, retired and pays a rent-controlled $575 a month.READ MORE: VIDEO: Smash-And-Grab Robbery At Tanforan Mall Jewelry Store
Now, a Colorado company has bought the building she lives in and is converting it to tenants in common (TIC) units, selling for a million dollars each. Knight is getting evicted.
A wave of evictions of longtime tenants from rent-controlled apartments is sparking angry protests in San Francisco. It’s just one facet of the Bay Area’s housing crisis as cities grapple with a shortage of affordable apartments and homes while the economy recovers and the arrival of thousands of affluent new workers swells the population.
“I’m on a waiting list for senior housing in Petaluma because I had to go an hour out of the area, but you know, it’s a waiting list,” Knight said.