Exhibit 21.1

SUBSIDIARIES OF POST PROPERTIES, INC.

(as of December 31, 2008)



|                                                 |  |                   
|------------------------------------------------ |  | ------------------
|Name                                             |  | State of Formation
|                                                 | 
|1499 Massachusetts Avenue, Inc.                  |  | Delaware          
|1499 Massachusetts Holding, LLC                  |  | Delaware          
|3630 Condo Holdings, LLC                         |  | Georgia           
|3630 North Condo Holdings, LLC                   |  | Georgia           
|3630 North Tower Residential, LLC                |  | Georgia           
|3630 Peachtree Road Holdings Limited Partnership |  | Georgia           
|3630 Residential GP, LLC                         |  | Georgia           
|3630 South Tower Residential, LLC                |  | Georgia           
|98 San Jac Condo Investment, LLC                 |  | Georgia           
|98 San Jac Holdings Limited Partnership          |  | Georgia           
|98 San Jac Holdings Management, LLC              |  | Georgia           
|Addison Circle Access, Inc.                      |  | Delaware          
|Addison Circle Limited Partner, LLC              |  | Georgia           
|Addison Townhomes One, Ltd.                      |  | Texas             
|Akard-McKinney Investment Company, LLC           |  | Texas             
|Alexander Condominium Development I, LLC         |  | Georgia           
|Alexander Condominium Development II, LLC        |  | Georgia           
|Allen Plaza Mixed Use, LLC                       |  | Georgia           
|Armada Homes, Inc.                               |  | Delaware          
|Armada Phoenix Townhomes, LLC                    |  | Texas             
|Armada Residences, L.P.                          |  | Georgia           
|Austin BC, L.P.                                  |  | Georgia           
|Austin BCPM Acquisition, LLC                     |  | Delaware          
|Austin SL Acquisition GP, LLC                    |  | Georgia           
|Austin SL, L.P.                                  |  | Georgia           
|BC Austin GP, LLC                                |  | Georgia           
|BC Austin LP, LLC                                |  | Georgia           
|Block 588 Condominium Development, L.P.          |  | Georgia           
|Block 588 GP, LLC                                |  | Georgia           
|Block 588 LP, LLC                                |  | Georgia           
|Briarcliff Commercial Property, LLC              |  | Georgia           
|Carlyle Condominium Development II, LLC          |  | Georgia           
|Carlyle Condominium Development, LLC             |  | Georgia           
|Clyde Lane Condominium Development GP, LLC       |  | Georgia           
|Clyde Lane Condominium Development Holding, LLC  |  | Georgia           
|Clyde Lane Condominium Development, L.P.         |  | Georgia           
|Cumberland Lake, Inc.                            |  | Georgia           
|Greenville Avenue LP, LLC                        |  | Georgia           
|Harbour I Condominium Development, LLC           |  | Georgia           
|Hyde Park Walk Condominium Development, LLC      |  | Georgia           
|Lakeside I LP, LLC                               |  | Georgia           
|Lakeside II LP, LLC                              |  | Georgia           
|P/C First Avenue LLC                             |  | Delaware          
|PAH Acquisitions, LLC                            |  | Georgia           
|PAH Legacy Limited Partnership                   |  | Georgia           
|Park Land Development, LLC                       |  | Georgia           



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|                                              |  |         
|--------------------------------------------- |  | --------
|PBC Apartments, LLC                           |  | Georgia 
|PBP Apartments, LLC                           |  | Georgia 
|PBP Blocks 206/207, LLC                       |  | Georgia 
|PBP Lake Susannah Apartment Land, LLC         |  | Georgia 
|PBP Lake Susannah Condo Land, LLC             |  | Georgia 
|PCH Atlanta Venture, LLC                      |  | Delaware
|PCH CCL Holding, LLC                          |  | Delaware
|PCH Collier Hills Venture, LLC                |  | Delaware
|PCH Crest Lake Venture, LLC                   |  | Delaware
|PCH Crest Venture, LLC                        |  | Delaware
|PCH Lindbergh Venture, LLC                    |  | Delaware
|Peachtree Condominium Development, LLC        |  | Georgia 
|PF Apartments, LLC                            |  | Georgia 
|PL Apartments GP, LLC                         |  |         
|PMBC Austin Limited Partnership               |  | Georgia 
|Post 1499 Massachusetts, LLC                  |  | Georgia 
|Post Addison Circle GP, LLC                   |  | Georgia 
|Post Addison Circle Limited Partnership       |  | Georgia 
|Post Alexander, LLC                           |  | Georgia 
|Post Apartment Homes, L.P.                    |  | Georgia 
|Post Asset Management, Inc.                   |  | Georgia 
|Post Atlanta Venture, LLC                     |  | Georgia 
|Post Austin Triangle, L.P.                    |  | Georgia 
|Post Ballantyne, LLC                          |  | Georgia 
|Post Biltmore, LLC                            |  | Delaware
|Post Briarcliff, LLC                          |  | Georgia 
|Post Carlyle I, LLC                           |  | Georgia 
|Post Carlyle II, LLC                          |  | Delaware
|Post Carlyle Services, LLC                    |  | Georgia 
|Post Construction Services, Inc.              |  | Georgia 
|Post Corners, LLC                             |  | Georgia 
|Post Crossing, LLC                            |  | Georgia 
|Post Development Services Limited Partnership |  | Georgia 
|Post Eastside Acquisition GP, LLC             |  | Georgia 
|Post Eastside Limited Partnership             |  | Georgia 
|Post FB Acquisition GP I, LLC                 |  | Georgia 
|Post FB Acquisition GP II, LLC                |  | Georgia 
|Post FB I Limited Partnership                 |  | Georgia 
|Post FB II Limited Partnership                |  | Georgia 
|Post Gateway Place, LLC                       |  | Georgia 
|Post Glen, LLC                                |  | Georgia 
|Post GP Holdings, Inc.                        |  | Georgia 
|Post Hyde Park, LLC                           |  | Georgia 
|Post Landscape Group, Inc.                    |  | Georgia 
|Post Legacy, L.P.                             |  | Georgia 
|Post LP Holdings, Inc.                        |  | Georgia 
|Post Midtown Square GP, LLC                   |  | Georgia 
|Post Midtown Square, L.P.                     |  | Georgia 
|Post Park, LLC                                |  | Georgia 
|Post Park Development, LLC                    |  | Georgia 
|Post Parkside (Atlanta), LLC                  |  | Georgia 
|Post Paseo Colorado, LLC                      |  | Delaware
|Post Peachtree, LLC                           |  | Delaware
|Post Rice Lofts, LLC                          |  | Texas   



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|                                          |  |         
|----------------------------------------- |  | --------
|Post Richmond Acquisition GP, LLC         |  | Georgia 
|Post Richmond Avenue Investor, LLC        |  | Georgia 
|Post Richmond Limited Partnership         |  | Georgia 
|Post Services, Inc.                       |  | Georgia 
|Post Spring, LLC                          |  | Georgia 
|Post Toscana, LLC                         |  | Georgia 
|Post Triangle, LLC                        |  | Georgia 
|Post TRS Condo I, LLC                     |  | Georgia 
|Post TRS, Inc.                            |  | Georgia 
|Post Wade Tract M-1, LLC                  |  | Georgia 
|Post Wade Tract M-2, LLC                  |  | Georgia 
|Post Wade Tract R-1, LLC                  |  | Georgia 
|Post Walk at Citrus Park Village, LLC     |  | Georgia 
|Post West Avenue Lofts, L.P.              |  | Georgia 
|Post West Avenue, LLC                     |  | Georgia 
|Post Wilson Buildings, LLC                |  | Georgia 
|Post Worthington, L.P.                    |  | Georgia 
|Post-Amerus American Beauty Mill, L.P.    |  | Georgia 
|Post-Amerus Bennie Dillon, L.P.           |  | Georgia 
|Post-Amerus Rice Lofts, L.P.              |  | Georgia 
|Post-Amerus Wilson Building II, L.P.      |  | Georgia 
|Post-Amerus Wilson Building, L.P.         |  | Georgia 
|Presidential Heights LLC                  |  | Delaware
|PSI 3630 Peachtree North, LLC             |  | Georgia 
|PSI 3630 Peachtree, LLC                   |  | Georgia 
|PSI Acquistions, LLC                      |  | Georgia 
|RB Holdings, LLC                          |  | Georgia 
|Residential Ventures, Inc.                |  | Georgia 
|Rice Lofts, LP                            |  | Texas   
|Rise Condominium Development GP, LLC      |  | Georgia 
|Rise Condominium Development Holding, LLC |  | Georgia 
|Rise Condominium Development, L.P.        |  | Georgia 
|Riverside Villas, LLC                     |  | Georgia 
|Rocky Point Management, Inc.              |  | Georgia 
|Rose Hill Associates, LLC                 |  | Delaware
|SL Austin LP, LLC                         |  | Georgia 
|Soho Condominium Development, LLC         |  | Georgia 
|STS Loan & Management, Inc.               |  | Georgia 
|STS Loan, L.P.                            |  | Georgia 
|The Potomac at Fallsgrove, LLC            |  | Delaware
|Uptown Denver, LLC                        |  | Colorado
|Villas at Parkway Village, L.P.           |  | Georgia 
|Villas GP, LLC                            |  | Georgia 
|Worthington Limited Partnership, LLC      |  | Georgia 
|Worthington GP, LLC                       |  | Georgia