Can Buckhead have too many apartments?
Developers don't seem to think so.
The Post Alexander, near GA-400 at 3410 Alexander Road NE, is adding 340 units as a second phase to the development, which is located at
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According to Multi-Housing News, Post Properties plans to fund the $75.5 million development through out of its available cash balances, operating cash flow and borrowings—as needed—under its unsecured lines of credit.
The new 340 units will have an average size of 830 square feet on 19 floors, built over seven levels of parking. The average rent of the new units is expected to be around $1,790, according to MHN.
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Another 359 units are planned to go up on the six acres behind the Lindbergh Plaza shopping center, anchored by Best Buy and The Home Depot.
Charleston, SC-based Greystar currently has the land under contract, according to the Atlanta Business Chronicle. The project could break ground in September and open in late 2015.
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