Because I do think there is value in mid term, affordable, rentals. And coordinating that with a bunch of individually owned units and ensuring that some of them remain affordable seems like a near impossibility.

Might also be nostalgia for earlier days when not every apartment advertised “luxury units” and renting was way cheaper than buying. It’s what kids just out of high school did, or recent divorcees while they got back in their feet financially. Some oriole even preferred it so they didn’t have the responsibility of owning. Companies used to be decent stewards of multi family housing, I’m probably over optimistic that they could be again.