UDR Harding Park

[April 13th, 2005] Residents at University Park apartments dread Friday, April 15-and not just because it's tax day.

On Feb. 14, the mostly middle-class tenants of 1500 SW Park Ave., which was built in 1988 and has about 125 units, received notice that their building was being sold. No big deal, right? One big anonymous company-United Dominion Realty Trust of Maryland-was apparently selling to another, this week's Rogue, UDR Harding Park , based in Highlands Ranch, Colo.

That notice may have meant little to its recipients, but it tossed them into the fast-paced world of condo conversions. As The Wall Street Journal reported last month, large institutional real-estate investors are cashing in on the home-ownership mania by selling apartment units.

On March 16, the new owner notified all residents that their building might go condo. Residents whose leases had just expired or were on month-to-month deals got more solid evidence that something was up that same day: They were told to vacate the premises in a month. "This is your 30 day notice of the owner/agent's intent to terminate your tenancy," read the letter to several residents, including one woman who had lived in the building for 17 years.

Oregon law requires residents be given 120 days notice of a condo conversion, but that notice doesn't apply to people whose lease has expired.

The 17-year resident, who declined to be identified for fear of embarrassing her employer, sought assistance from Legal Aid and the Northwest Pilot Project. The advice she got was that the condo conversion was legal, if not exactly handled thoughtfully.

She says several of the affected renters are aged or ill.

"It seems totally heartless and unnecessary to push out these good tenants like they are drug dealers," she says.

The building's owner didn't return a message seeking comment.

UPDATE on the March 23 Rogue calling out whoever stole the Decemberists' instruments: Police have recovered some of the indie folk band's instruments and arrested Todd James Christie, 36, in North Portland as a suspect. But the Portland band won't know exactly what gear they've recovered until getting back from tour this week.