(Read more on the multifamily market.)
HYATTSVILLE, MD-Post Properties has broken ground on its firstnew development in Maryland. The Atlanta-based company, which hasoperations in 10 markets, is building an $86.5-million luxuryresidential-retail mixed-use project in this submarket.
Called Post Park, the 6.8-acre complex will provide 396 units.Of these, 326 will be rentals and 70 will be condos, with a mix ofstudios, and one-bedroom and two-bedroom units. Post Park will alsohave 1,700 sf of ground-floor retail space. The first apartmentunits are expected to be available in Q2 '09; the first condos infall of 2009. Urban Pace LLC is handling the condominiumpresales.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
