LOS ANGELES (CBSLA.com) — Tenants facing a wave of evictions in the Beverly Grove area of Los Angeles blasted plans Friday to replace their apartments with million-dollar condominiums.

KNX 1070’s Pete Demetriou reports 18 people living at the properties on North Flores Avenue near 1st Street may have to move after the owner has unveiled plans to demolish and convert the units into single-family condos that could sell for as much as $1.5 million apiece.

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Tenants at the properties on North Flores – which have been rent-controlled for years – say the plans from developer and chairman of the California Housing Finance Agency Matthew Jacobs would make way for 11 units that would cost up to 30 to 200 percent more than what they’re currently paying.

But according to resident Steve Luftman, it’s unlikely tenants will have to leave anytime because they have not been legally served according to California state law.

Under the Ellis Act, landlords can evict rent-controlled tenants if they plan on leaving the rental business for at least five years, which may entail converting their building to condos.

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“They did not follow procedure to the letter, which is required from the Ellis Act,” said Luftman.

Attempts by Demetriou to contact Jacobs for clarification on the matter were unsuccessful.

Luftman and other tenants are still hoping Jacobs will make what they say is the right decision.

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“Morally, he should drop these plans, find some empty land to do it on and not ruin people’s lives,” Luftman said.