National Investment, Development and Asset Management Company PMGand Toronto-based private equity and asset management firm Greybrook Real Estate Partnersannounced on Monday the inauguration of Atlanta Companya 31-story multi-family development, at 811 Peachtree St.
Designed by the National Architecture Firm cooper carrythe mixed-use property is the first of PMG’s Society Living “multi-family platform” to enter the Atlanta market and will include 460 residential units, 81,000 square feet of offices and 16,500 square feet of retail space. Construction company Juneau is the general contractor for the property which is expected to open in end of 2024.
“We are thrilled to reach this milestone and begin construction, and we could not have reached this point without our great partners Greybrook, Juneau Construction Company and Cooper Carry who have all worked diligently to bring this project to life” , Ryan Shear, managing partner at PMG, said. “Midtown Atlanta is experiencing incredible growth and we are confident that Society Atlanta will be a welcome concept in the area with a focus on fostering community between neighbors and visitors.”
The Atlanta company will offer “efficiently designed traditional layouts” alongside “Rent-by-Bedroom” (co-living) options with amenities such as a rooftop pool and restaurant, a coworking lab with private conference rooms, a gym and a fitness studio.
This property continues the expansion of PMG and Greybrook’s national Society Living portfolio, which was “created to meet the insatiable demand for reasonable rents near urban centers, where modern neighbors can connect and thrive together,” according to Monday’s announcement. Urging residents to “choose happiness,” Society Living focuses on “creating vibrant living spaces that foster personal growth in a culture of inclusivity and unity.”
“Society Atlanta will integrate directly into the urban fabric of Peachtree Street”, jenny williams, associate manager of Cooper Carry’s mixed-use residential studio, said. “It will activate the city’s main road with a striking design and features such as outdoor dining. We are thrilled to be part of the team that brings it to life.
Existing Society Living developments include Society Las Olas in downtown Fort Lauderdale, Florida, which opened in May 2020; Society Biscayne in Downtown Miami, slated to open in summer 2022; Society Wynwood, ongoing in Miami’s Wynwood Arts District; and Society Orlando, under construction in downtown Orlando. Over 8,500 units are planned nationwide, including additional developments in Atlanta, Brooklyn, Denver and Nashville.
“Society Atlanta is part of a larger rollout of Society Living communities that have performed extremely well to date,” Sami Mouaket, director of U.S. investments and developments at Greybrook, said. “With a focus on major metros in the Southeast, given the region’s strong fundamentals, Society Atlanta allows us to enter a market that has long interested us. Atlanta and in particular the Midtown submarket have shown exceptional resilience in recent years.