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TAMPA, FL-Atlanta-based Post Properties Inc. is increasing its presence in Tampa area’s multifamily sector with the ground-breaking on the third, 259-unit phase of Post Harbour Place at an estimated build-out cost of $35 million or $135,135 per unit.

The new addition brings the total unit count at Post Harbour Place to 784 with an estimated near-future resident count of 1,000. Tampa is 80 miles west of Downtown Orlando.

Post also plans a 64-unit condominium community and a hotel, each owned and developed by third-party developers. The condominium will have a ground-floor restaurant and 3,750 sf of rentable flex and retail space at undetermined rates. Post Harbour rents were not disclosed in the company’s prepared statement.

The development site is on the north side of Harbour Island, across Garrison Channel from Downtown Tampa.

“The successful leaseup of Phase II and several nearby apartment-to-condominium conversions puts us in a strong position as we begin Phase III of Post Harbour Place,” David P. Stockert, Post’s president and chief operating officer, says in the statement. “Both phases of another rental community on Harbour Island and an additional community on nearby Bayshore Boulevard are in the process of converting a total of approximately 750 units and both communities are project to sell out in the next year.”

When they do, Stockert says Post Harbour Place “will have an enviable position as the only rental option remaining on Harbour Island, one of Tampa’s premier locations.”

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