18-Month Moratorium on Hotel Condo Conversions

Mayor Gavin Newsom, the Board of Supervisors, and union leaders avoided an outright permanent ban on condo conversions of hotel rooms, reports SFGate in an early Wednesday story.

Two of the more high-profile properties that were investigating the option included the Fairmount and the Palace Hotel. Developers apparently looked to capitalize on the hot real estate market while Supervisor Aaron Peskin suggested a ban as a way to preserve jobs. Perhaps this all has more to do with the hotel labor strike than with real estate?