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Place Properties Opens Off-Post Apartments

ATLANTA-The multifamily developer invests more than $300 million in complexes near military bases.

By Carl Cronan | Updated on May 21, 2008

ATLANTA-Place Properties has opened five apartment complexes near military bases in the Southeast and Southwest, offering an off-post alternative to living quarters that are either full or obsolete. The new Independence Place communities represent an investment of more than $300 million by the national multifamily developer.

Apartment communities have opened at Fort Hood and Fort Bliss, TX; Fort Benning and Fort Stewart, GA; and Fort Sill, OK. A sixth Independence Place is being built at Fort Campbell, KY.

Government realignment of military bases nationwide has led to an influx of additional soldiers at those still fully operating, resulting in an over-capacity situation for on-post housing that is already occupied or no longer habitable. Place Properties, which is also known for building student housing, considers its new military complexes a means of giving back to those in the armed services.

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