Last year, Post merged with Dallas-based Columbus Realty Trust, which is now known as the company's Post West division. While Post specialized primarily in traditional garden apartments, Columbus gained a reputation for its urban developments. Post is one of a growing number of apartment developers that are looking beyond the suburbs. These companies see downtown as a hot niche, all but neglected until recently. In many cases, cities are giving them generous incentives to make it economically feasible for them to build apartments downtown.
People travel and see other urban cities, with people living above shops and restaurants.
Post has been meeting with Austin's city leaders since March, working on an acceptable design. Under the terms of the tentative agreement, Austin would retain ownership of the Pole Yard property. Post would lease the land and share profits with the city after tenants move in. The Post project is one of two Austin City Council initiatives designed to spur residential development in downtown Austin. The city has a letter of intent with developers of the second project, AMLI Residential Trust of Chicago and Bonner Carrington Corp. of Austin, to build apartments on Colorado Street.