Atlanta’s New Plan To Keep Rent Affordable: Buy Rental Properties

first_img Atlanta has a new strategy to fight displacement in gentrifying neighborhoods — this time, targeting renters.Like us on FacebookOverall, renters present a challenge for Atlanta. Unlike other cities, it can’t impose rent control. That’s not allowed in the state of Georgia.So Mayor Kasim Reed said Wednesday that the city has come up with a different idea.“What we’re trying to do is, we’re getting a group of philanthropists to raise between $75 and $100 million in private dollars to buy some of the large rental areas that we have,” Reed said. “So that we can keep the rents affordable.”This follows another effort to keep up with the rising cost of living in Atlanta. Earlier this summer, the city announced a program for homeowners on the Westside. That set up a private fund to help pay increases in property taxes. Related Stories Add to My List In My List For Whom The Bell Rings Share McMillan Transforms Hawks, Now Looks To Win In Playoffs Legal Advocate Discusses Medical Abuse At Shut Down Georgia ICE Facility last_img read more