Post Properties, headquartered in Atlanta, will develop $113.6 million worth of apartments in mixed use communities in Raleigh and Orlando.
Four years ago, 31.6 percent of householders rented, but that number has climbed to 33.6 percent – about 3 million renters– in the last four years as the housing market plunged and foreclosures skyrocketed, according to an Associated Press story.
Post's new properties, Post Parkside at Wade in Raleigh will have 392 apartments and 18,000 square feet of retail space. Post Lake at Baldwin Park in Orlando will have 410 apartments. The company expects to start construction late this year, with the first apartments finished in late 2012.
Post is a 40-year-old development company with operations in ten markets in the U.S.
--Christopher Quinn
