Land Use & Zoning
In Arizona, a 'condominium conversion' of a rental apartment project requires the developer to:
AObtain approval from all existing tenants
BComply with the Arizona Condominium Act, provide tenants with notice and right of first refusal, and file a public report with the ADRE✓ Correct
CGet city council approval
DDemolish and rebuild as condominiums
Explanation
Converting rental apartments to condominiums in Arizona requires compliance with the Condominium Act, filing a public report with the ADRE, and providing existing tenants with required notice periods and right of first refusal opportunities.
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Key Terms to Know
Right of First Refusal
A contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
State-Specific Concepts
DRE Regulation
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