HOUSTON—Post Properties Inc. has completed the company's third multifamily community in Houston, Post 510.

The 242-unit apartment community is located in the Montrose submarket just south of downtown, an area which is leading the city in achievable rents with an average of $1.71 per square foot, says CBRE. Construction of the mid-rise project began in 2012 and the first tenants are expected to occupy in March.

Post 510 features one- and two-bedroom apartment homes with modern kitchens and upgraded finishes. In addition, the project is participating in the NAHB Research Center National Green Building Certification program by incorporating green practices into the design and construction including energy efficiency improvements, resource conservation and indoor environmental quality considerations. Post 510 also has an on-site recycling center.

Post 510 represents the third development for Post Properties in the Houston market. Most notably is the renovation of the Rice Hotel into 308 loft apartments in downtown Houston. Post also developed the 653-unit Post Midtown Square just two blocks south of downtown. The developer could not be reached for comment.