Local Developer Stops Collecting Rent From His Commercial Tenants
The developer of a small retail outlet in Atlanta’s Lakewood community recently decided to stop collecting rent from his tenants. Omar Ali joins “Closer Look” on Friday to explain how he came to this decision.
Despite some aid from the federal government, the financial toll of the coronavirus pandemic has hit small businesses especially hard. That’s why a local developer says he chose not to collect rent from his commercial tenants during the month of April.
The Atlanta development, located at 1800 Jonesboro Road, recently opened and is occupied by several local, small businesses.
In an interview with “Closer Look” host Rose Scott, developer Omar Ali said he consulted his family before making the call.
“It was an extremely, extremely difficult decision from a financial standpoint. But, it was an easy decision from a human standpoint,” Ali said.
Ali also explained some of the challenges his own business experienced when applying for the government’s Payment Protection Program and his outlook for the new development moving forward.
Guest:
- Developer Omar Ali
To listen to the full conversation, click on the audio player above.
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