Reverting a 55+ apartment complex back to a regular apartment

[Thang Nguyen]

I have an apartment that is set up as a 55+ complex historically but there is no deed restriction requiring it to be maintained as a 55+ complex.  I am thinking of converting it to a regular apartment so rents can be raised easier and increase the sale price in 2-3 years.  Has anyone done this and can share their experience.  

I think the transition will be difficult due to the culture clash between the age groups.  Is the city going to blacklist us in the future.  Some negative press could come up along with the morale battles with yourself.   Worth it?

Thanks in advance!