The Board of Supervisors is set to consider legalizing the conversion of a four-unit building into a single-family mansion, which could have lasting effects on rental housing. Peter Iskander purchased the building in 2010, evicting tenants, and it was later sold for $4.75 million in 2021. The owners seek retroactive approval for the conversion, but the Planning Department insists on restoring it as a four-unit rental. A decision favoring the owners could encourage similar actions by speculators, threatening the rental market.
"The owners want the city to retroactively approve the conversion if they agreed to add one in-law unit. The Planning Department didn't buy that, and demanded that the property be restored to what it was: A four-unit rental."
"If the supes side with the owners, the message to speculators will be clear: It's fine to buy a four-unit building, evict the tenants, and make a fortune converting it to a mansion."
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