A solicitation deck for Dunleer Investments, founded by Turner, confirmed they’d found their target.9 It listed key features of their building to entice investors: it was “non-rent controlled” (a phrase both underlined and italicized), in a neighborhood “slated for new ‘metro-centric’ development,” and had a projected rate of return of 20 percent. The deck promised potential clients access to a “rapidly gentrifying” submarket—a self-fulfilling prophecy of speculation—and identified not just asking rents for the property, but kinds of renters: “millennial tenants … [who were] willing to pay” for good design in “jeans and coffee.” For those tenants, it insisted, “housing is less of a financial decision, more of a lifestyle decision.” For the current tenants, the document was evidence that they stood in between the new owner and his plans: displacement and replacement for profit.
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