Post Invests $62M in Buckhead Units

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ATLANTA-Bucking a trend to build high-rise residential condominium homes in the affluent Buckhead submarket, locally based Post Properties Inc. is investing $62 million in developing Post Alexander. It will be one of the first new apartment communities started in this market in recent years.

The developer announced today it has broken ground on the five-story, 307-unit, 300,000-sf multifamily venture on Phipps Boulevard and the Buckhead Loop on Alexander Circle. The site is adjacent to the 900,000-sf Phipps Plaza shopping center and near the 1.66-million-sf Lenox Mall, about nine miles north of Downtown Atlanta. Post Stratford, another Post Properties apartment asset, is less than a quarter of a mile from Post Alexander.