Developer ‘circumvents’ city process

I read The Acorn’s article in the Nov. 27 issue about the Avalon affordable housing initiative with interest.
One large point, which was not mentioned, is the fact that Avalon paid off their construction bond 10 years early. Had Avalon not done so, it would have protected the affordable housing units for another 10 years until 2028.
Avalon’s attorney says they have a legal, fiduciary obligation to shareholders. It’s clear that’s the underlying issue here.
But for Avalon to say that given the han...

Oops! An active online subscription is required to access this content.

Please login below or Subscribe today!