Post Properties

PostProp

Post Properties reinvests in urban neighborhoods by building apartment communities with expanded amenity offerings. By Stephanie Crets

Post Properties strives to make a difference through urban renewal and redevelopment in the core of major cities such as Atlanta, Houston, Tampa and Washington, D.C. The company builds apartment communities in close proximity to local businesses and public transit, appealing to young professionals and millennials attracted to an urban lifestyle.

“We’re experiencing the resurgence of the urban core in cities across America,” Executive Vice President and CIO David Ward says. “People are flocking back to the central city in almost every market we’re in. That’s a very healthy dynamic for the cities and housing in these areas. We spend a lot of time understanding the neighborhoods in which we choose to invest. People desire the kind of walkable neighborhood with access to restaurants and entertainment that provides the opportunity meet friends and experience life together.” Ward says millennials want “a nice place with the opportunity to connect and mingle with folks and walk to work or where they want to go eat.”

Since its founding in 1971, Post Properties has stayed in tune with the natural progressions of cities and their surrounding neighborhoods and evolved its business to keep up. Initially, the company produced three-story garden apartments in the suburbs. As the market moved toward the central city, the product evolved to four-story apartment buildings with 60 to 70 units per acre; now, Post Properties utilizes smaller parcels of land to build higher-density buildings with 100 to over 300 units per acre.

“As the city’s core becomes stronger and land becomes more scarce, you’re seeing higher-density buildings,” Ward explains. “We’re seeing a trend toward more high-rise buildings.  We just finished a high-rise in the Buckhead district in Atlanta and another one in the D.C. area. More and more we’re building 20- to 25-story buildings.”

Post Properties’ development number varies depending on how much work is available and the economy at large. So far in this economic cycle, the company has completed approximately 2,300 units in seven communities and has six communities with 2,290 units under construction.

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“Depending on the market, we look for and acquire land but might not start development until the right margins are there,” Ward explains. “We challenge ourselves to deliver our best, focus on details and work together with respect for each other. We want to make the communities we do business in better places to be because we’re there.”

In the long run, Post Properties aims to grow at an eight to 10 percent pace at its bottom line. “We’re a development company so our main impetus for that is building: build more assets than we sell, and the market will dictate a lot of that,” Ward adds.

Social Living

Post Properties develops apartment and mixed-used communities that include retail stores, restaurants and office spaces. Mixed-use can benefit residents, creating an additional amenity for them.

Offering more amenities is a conscious goal for Post Properties for its millennial residents. As it develops new communities, the company has been creating smaller apartment units and focusing on developing more public gathering spaces in the building where residents can be “all alone together,” Ward notes. “People like to gather, but still do their own thing on their devices. We’re providing more expansive and creative amenity areas, along with great wi-fi in common areas.” PostInfo

The need for additional amenities also feeds into Post Properties’ sustainable practices and green initiatives. The company has added energy-efficient features and expanded capabilities to its apartment communities including charging stations for electric vehicles, more efficient appliances, better insulation and energy-saving lighting.

In many communities, Post Properties works with a nonprofit called Apartment Life that institutes a CARES program, where a couple from the organization will live onsite to help build community and improve resident satisfaction. The CARES teams reach beyond community events and try to get residents to connect based on shared interests such as poker nights, books clubs or museum outings.

“There’s a statistic that if someone makes five friends in their community, they’re highly likely to renew their lease,” Ward says. “So, CARES is helping build the community and creating connection opportunities for our residents.”

Thanks to its dedication to residents and the surrounding cities and neighborhoods, Post Properties has built significant brand loyalty. “I’m just so proud of the brand,” Ward says. “People will tell me, ‘I used to live at Post’ or ‘I live at a Post.’ It’s amazing how often that happens. We’re 45 years old in the apartment business and recognized for quality and the places we’ve created – all in a very positive way.”

As a company with strong core values, Post Properties emphasizes doing the right thing for its neighborhoods and residents. Every year the company closes its offices for the day to do charity work all over the cities in which it operates, as well as donating several hundred thousand dollars to a variety of charities.

“Our purpose is to ‘create places and moments that make a difference’ for our residents, our associates and for the communities in which we do business,” Ward says. “We want to give back as a company. We believe in investing in the people and the communities where we live and work.”

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