Shock and anger on Geneva’s Boulevard Carl-Vogt. Tenants in more than 100 apartments and 15 shops have received lease termination notices, officially due to major renovations.
Many residents, some living there for decades, suspect speculation and fear being forced out to make way for higher rents.
The tenants’ association Asloca accuses the owner, a Basel-City pension fund, of seeking greater profitability.
The fund bought the property 6 years ago for CHF 128m.
A legal battle may follow, as Geneva law allows authorities to block projects that threaten affordable housing, though the outcome remains uncertain.
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