Post plans luxury apartments near Phipps

Atlanta-based Post Properties said it will break ground on a $75.5 million luxury apartment building adjacent to Phipps Plaza in Buckhead in the next several months.

The 19-floor Post Alexander will include 340 units with an average size of 830 square feet. Rents will average $1,790. The project is being built over seven levels of parking.

The announcement was one of several Post made this week:

• The company acquired a 3.9-acre site for $13.1 million in Houston, where it plans to build 390 luxury apartment units. Post said two other Texas apartment properties, one in Houston and another in Austin, were least 95 percent leased.

• Post said it closed on its $48.5 million acquisition of Crosswater at Lakeside Village in Orlando. The 300-unit community in Windermere has been renamed Post Lakeside.

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Christopher Seward

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