Government
When Millionaires Squabble Over a Private Street, There Are No Winners
The ongoing saga of Presidio Terrace is just depressing all around.
In August, after decades of failing to pay property taxes on their private cul-de-sac in San Francisco’s toniest hills, residents of Presidio Terrace were rudely awakened to fact that their street no longer belonged to them. It had been sold at auction, perfectly legally—and the well-heeled homeowners would have to deal with whatever profiteering came of it.
As I noted at the time, there was some deeply satisfying cosmic irony here for anyone who has railed against the elitism of San Francisco’s housing market. But as of Tuesday, the universe has returned to its usual order: The Presidio Terrace Association got its street back.