Calming the Multifamily Mania
With multifamily construction in Austin equivalent to about 7% of the existing base,maybe developers need to pause and reevaluate all that building, says Post Propertiesregional investment EVP David Ward. (Things are never good in excess... just ask Lindsay Lohan.)
David--snapped speaking at our BisnowDallas Multifamily Summit last summer--says Austin has definitely gotten ahead of its skis. Right now, themultifamily market is doing great, and Post is part of that with Post South Lamar wrapping up construction in February. It will probably be stabilized this summer, as itsleased up well from its fall opening, he tells us. Hes working on another land site inAustin right now, but will be evaluating the market before making a decision to pull thetrigger. Post has about 4,700 units already in Dallas and hopes to continue to grow itsAustin and Houston portfolios. (And after that: the world!) Post has a Houston project that will deliver in the fall, too.
