Atlanta-based Post Properties Inc. spotted the niche two years ago and built out 244 units before the competition had dried its blueprints. All the apartments and 18,000 sf of commercial/retail space at Post Parkside are 100% leased.
Now the rest of the pack--Echelon, Zom and Lincoln--is racing to finish units the developers calculate will be leased up in short order as well. The reason: professionals and young couples are demanding and willing to pay for a Downtown address.
Rents for some two-bedroom, two-bath units may be going for $2,500 a month. Three-bedroom penthouse suites could command up to $3,500. One-bedroom units will probably average $800 a month.
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