Sky's the limit for Atlanta rents - Ponce City Market leases are just a sampling (Washington: 2014, affordable apartment)

[AnsleyPark]

Gee. If rents are so unreasonably high, change your choice - move to the burbs. Oh, wait, no holy grail transit. Okay, just pay the rent everyone is starting to complain about. Hmmm. Be careful what you ask for. It's coming.

[gtcorndog]

Are you trying to tell me that the most desirable places to live have a high cost associated with them?!?!

This is pure madness!!!

[ATLTJL]

Be careful what you ask for. It's coming

Precisely.

Sure am glad I snuck into Buckhead during the rental crash of 2002 and got out before the rents went crazy!

[jhtrico1850]

I work downtown at a law firm. They make insane amounts of money. 1+1..

[red92s]

Originally Posted by CCATL

IMHO, $3000/month gross IS NOT a low income person. That's a take home of $36,000 per year, which cuts out a huge number of people, such as disabled veterans, mentally ill, and low-wage workers. [...] and then turn around and require an annual take home salary of $36K to qualify.

You are using "$36k gross pay" and "$36k take home" pay interchangeably. They are . . . not the same.

[Gulch]

I'm sorry, but the whining about these rents is hilarious.

[afdinatl]

There are plenty of apartments ITP with normal rental rates that are in safe locations. Being shocked that the apartments at PCM are high is the same as being shocked that the apartments At BA will be high

[red92s]

High rates shouldnt be a surprise. Atlanta has the highest income inequality in the country.

[CCATL]

Originally Posted by red92s

You are using "$36k gross pay" and "$36k take home" pay interchangeably. They are . . . not the same.

Sorry, didn't realize I was using the terms interchangeably, but you are correct. I think they determine it based on take home. However, my point was not that they require 3 times more than the rent, it was more important to me that rents set aside for low income folks are not affordable to them - specifically public servants (cops, teachers, etc.). On the phone, they actually said to me that they have low income apartments available because "we do not want to displace residents from the neighborhood who have been here for years, before it was popular. We want to become a part of the community". And then she told me the rental price for those people, and I basically just had to laugh. It's all a speech to make the development sound positive (which overall, it is). But the reality is they are still there to make money, and being a part of the community is a fake afterthought.

I actually am still a fan of the development as a whole, and I'm excited to see it open. But please, let's stop the charade that these companies getting tax breaks are actually setting aside affordable apartments for low income people. Yes, the prices are lower, but the target market for affordable housing are not people with low incomes, as advertised, but rather the middle class.

[noah]

They did take the risk of rehabbing a building no one else wanted to take so can't they make a profit if their risk works out?...usually landlords use 3 or 4x gross rents (not take home)...$36k is 30% less than the medium income so while it may not be the working poor to many it would probably be considered low income. In fact you call teachers and police officers low income in your post and I can tell you they don't make less than that.