With the announcement of the NFL coming to the city of Inglewood, speculators believe home values will skyrocket, especially those in close proximity to the stadium site. The downside to the housing boom will be the gradual displacement of renters.
The Turnstone family of companies operates: Turnstone Construction Management, Turnstone Repair & Maintenance, Turnstone Property Management, Turnstone Ventures and Turnstone Capital.
The companies provide a one-stop shop for each property they acquire.
Their website details how lucrative the city of Inglewood is to their investors.
Turnstone Capital recently purchased a multi-family property, located in Inglewood, on behalf of our partner, a publicly traded company in Japan. Prior to purchase, a physical inspection revealed an opportunity to add value by increasing density.
Turnstone acquired property in Inglewood in early March and began issuing 60 day notices, to the long-term tenants, without any offer of relocation assistance, within days of closing escrow.
2 Urban Girls contacted Turnstone Property Management to inquire on the recent notices given to tenants in Inglewood and their response was:
…we are treating tenants fairly. Only one tenant was given a 60 day notice…[you know] there is no rent control in the city of Inglewood
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