Atlanta-based Post Properties Inc. conceivably could deliver the unique project in 2002 should dirt begin flying before the year is out, a source close to the project told GlobeSt.com. The timing of the project's start and completion have been kept under wraps while the REIT lays the groundwork for the 159-unit project.
Reservations, more commonly referred to as purchase options, started to materialize with last week's opening of a high-tech virtual tour marketing center at 2815 Allen St. in Post Square. The project, promising spectacular skyline views of Downtown Dallas and Cityplace, will be built at the corner of State and Worthington Sts. near McKinney Ave.
"While for-rent homes and apartments will always remain an important part of the area, the natural next step in Uptown's evolution is more for-sale housing," says Art Lomenick, Post Properties' senior executive vice president. The Mercer is the first high-rise condominium project in the eclectic district, where Post has a vested interest. In the 1990s, the REIT previously had developed a mix of urban apartments and ground-level retail and restaurants to help revitalize the neighborhood.
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