Place Properties Opens Off-Post Apartments

ATLANTA-Place Properties has opened five apartment complexes near military bases in the Southeast and Southwest, offering an off-post alternative to living quarters that are either full or obsolete. The new Independence Place communities represent an investment of more than $300 million by the national multifamily developer.

Apartment communities have opened at Fort Hood and Fort Bliss, TX; Fort Benning and Fort Stewart, GA; and Fort Sill, OK. A sixth Independence Place is being built at Fort Campbell, KY.

Government realignment of military bases nationwide has led to an influx of additional soldiers at those still fully operating, resulting in an over-capacity situation for on-post housing that is already occupied or no longer habitable. Place Properties, which is also known for building student housing, considers its new military complexes a means of giving back to those in the armed services.

“The enthusiasm and spirit of the men and women already living at Independence Place are powerful reinforcement of our commitment to provide affordable, first-class living for (soldiers) who put themselves at risk for the rest of us,” Place Properties CEO Cecil Phillips stated in a release. He adds that he expects the high quality of the apartments to contribute to the military’s recruitment and retention efforts.

Independence Place apartments, which are also available to military contractors and local civilians, are leased by the bedroom, which limits the liability for roommates of soldiers who are suddenly deployed or leave for other reasons. Most utilities are included in the monthly rent, along with access to various living amenities and a “mud room” for safe storage of equipment.

The resort-style complexes include a clubhouse with flat-screen TVs, a gaming center, a fitness center and a computer lab. Outdoor amenities include a swimming pool, a poolside arbor with an outdoor kitchen and barbecue pit, basketball and volleyball courts, and a security gate surrounding the complex.

Atlanta-based Place Properties has at least 14 developments in various stages of construction nationwide. The privately held company claims to have developed more than $525 million worth of student and military housing projects over the last 12 years.