![]() ![]() PCP lawyer James Ballantine made the not-so-veiled threat of a lawsuit if the city didn’t retreat from what he described as its encroachment on his clients’ property rights. The order lasts for 45 days, during which time the city will further investigate the issue and attorneys on both sides will confer.īut before the 7-0 vote on the hard stop was taken, tense words were exchanged. Christel Barros, Sharyn Nielson, Dan Villano, and others rallied by Zoom and demanded swift protective action from the council, which it delivered in the form of an emergency ordinance preventing any senior mobile home park in Santa Barbara from going all-ages and enacting a vacancy rent control cap of 10 percent. The move sparked immediate fear among Flamingo’s residents, who also worried that PCP would raise rents as well as gobble up the owner-occupied units as they come on the market. ![]() Last month, PCP and its property management arm, Star Management, announced plans to convert the park from senior-only to all-ages. Get the top stories in your inbox by signing up for our daily newsletter, Indy Today. “We’re just trying to be good actors here and follow the law,” he said. On Tuesday, Engler-Coldren spoke to the Santa Barbara City Council about growing local fears of déjà vu at the 69-unit Flamingo Mobile Home Park on Cacique Street, which PCP purchased in 2018. ![]() Their website states: “Our focus is on adding value through efficient acquisitions and solving operational and local challenges through our in-house asset management team.” They now own 20 properties in seven states. “Mobile-home dwellers,” the paper warned, “lock your doors and stow your money: Lawyer/developer extraordinaire Robert Coldren is coming for ya!” Then just last year, the Fullerton Observer began documenting the impacts of yet another investment by Coldren and his associates at Pacific Current Partners (PCP) on 380 seniors living in Anaheim.Ĭoldren himself is getting up in years, so his son and business partner, Spencer Engler-Coldren, fronts the San Francisco firm more often these days. Two years later, OC Weekly named Coldren one of “Orange County’s Scariest People of 2015” for his treatment of the residents of his newly acquired San Juan Capistrano park. Coldren bought a senior park, rents shot up, and another exodus of the elderly took place. His profits soared as 130 desperate and vulnerable people scrambled to find new places to live.Ī similar story played out in 2013, also in Huntington Beach. Coldren immediately converted the property to all-ages and raised lot rents. They were on the cutting edge of what’s become a national trend of private equity firms making cash cows out of senior parks, one of the last bastions of affordable housing for older people living on fixed incomes. Naomi Klein offers us the arguments with which to take on the superbrands.” Billy Bragg from the bookjacket.Back in 2008, attorney Robert Coldren and his investment partners purchased a senior mobile home park in Huntington Beach.
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