Report: Blackstone raised rents 2X the San Diego market average [Video]

SAN DIEGO — A new report released Thursday accused the company Blackstone of contributing to the affordable housing crisis in San Diego. 

Nearly 2x market average

According to the report,  Blackstone owns more than 60 apartment buildings in San Diego County and it raised rents nearly double the market average since purchasing the properties three years ago. It states rents were raised anywhere from 13 percent to 79 percent. The average increase was 38 percent. Rents increased from an average of $1700 to more than $2300.

“These were properties that were some of the last affordable housing properties available in a city that’s already suffering from an affordable housing crisis,” said Jordan Ash, the report’s author. “Blackstone bought them and immediately raised the rents.”

The report comes just weeks after the San Diego County Board of Supervisors agreed to take steps to study …