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WASHINGTON, DC-Developers, both local and national, are circling the DC area, interested in building multifamily projects here that will take advantage of the demographics and local economy. The latest example is Atlanta-based Post Properties, which has announced it will begin construction on a 344-unit luxury apartment building as part of phase two of its Carlyle Square apartment project in Alexandria, VA. Development costs for the project are a reported $95 million, with the first units expected to deliver in the second quarter of 2012. 

Post Properties’ numbers for the project are very strong, Marcus & Millichap’s Stacey Milam, a first vice president investments and director of the firm’s National Multi-Housing group in Washington, DC, tells GlobeSt.com–especially considering how aggressive its rents are throughout its area portfolio. 

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