Post Builds Houston Portfolio
Multifamily projects continue to pop up all over Houston with a high concentration within the city limits (if you fall asleep on the grass you might wake up with an apartment built around you), but those numbers are comparable to historic construction and absorption, so the fear of Armageddon isnt quite there, says Post Properties regional investment EVP David Ward (above, speaking at last years Bisnow Dallas Multifamily Summit). He tells us Post recently completed the 124-unit third phase of Post Midtown Square with 10k SF of ground-level retail. Post also has Post 510 under construction at 510 Richmond Ave with a fall completion targeted.
Word on the street is Postpurchasing more land here, but David declined to comment. Post has about 5,600 units already in Dallas and hopes to continue to grow its Houston and Austin portfolios. Post has an Austin project that delivered last fall and is looking at another parcel of land there, as well.