News
Mobile Home Park Owner Rejects $39M Bid
September 3, 2015
The owner of the Buena Vista Mobile Home Park has rejected a $39M bid from the county and city, which was made in hopes of preserving the property for its 400 low-income residents. A letter to the city from a lawyer representing property owner Joe Jisser and his family indicated the offer was rejected due to a lawsuit which has been filed by a group representing the park’s residents. The residents are suing Palo Alto to overturn approval of the park’s closure and seeking an improved relocation package for residents. The owners contend the suit prohibits them from establishing a fair market value for the site. The park has been estimated to be valued at as much as $55M. [SVBJ]
