Tampa mayor: Rent control measures not the solution, could drive away developers

TAMPA — Despite skyrocketing rents in the city, Tampa Mayor Jane Castor says capping rents or putting in rent stabilization measures will only worsen the problem by driving out developers, sending them to friendlier locales and depriving the city of what it needs most: more inventory.

Castor, speaking at a press conference to roll out a new housing assistance program for renters, says a lack of housing that is affordable is a “crisis” that’s begun to affect people across Tampa who are suddenly finding themselves unable to afford to live within the city limits.

The cause, she and other experts say, is the terrific growth that is coming as people and companies discover and move to Tampa, helping the economy but at the same time putting a burden on the housing markets. This has catapulted rents and housing prices skyward, leading to a growing cry for measures that either cap rents or stabilize them.