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Multifamily Developer Believes in Houston’s Viability

HOUSTON—Post Properties’ Ward says there is residual multifamily product from the exuberance of the pre-bust market but levels have hit bottom in terms of layoffs associated with the price of oil.

Post at Afton Oaks The first move-ins are beginning today at Post at Afton Oaks.

HOUSTON—Post at Afton Oaks is located in the exclusive Afton Oaks neighborhood. This is Post Properties’ newest Texas community and the company’s third Houston-area development. Its one- and two-bedroom luxury apartment homes are now available for move-in. 

“We’ve started pre-leasing with the first move-ins starting today and the initial response has been favorable,” David Ward, executive vice president and chief investment officer of Post Properties, tells GlobeSt.com. “Houston is a very competitive market at this time due to the reduction in job growth associated with the oil bust. The good news about Houston compared to previous boom/bust cycles is its diversified economy. In past busts, the massive job losses would be devastating but today, it’s come to a point where we’ve gone from great job growth to slightly positive job growth and we anticipate seeing normal job growth in the next few years.”    

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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