US: Developer and asset managemer PMG and private equity firm Greybrook Realty Partners, have broken ground on Society Atlanta, a 31-story development, at 811 Peachtree Street.
Designed by architects Cooper Carry, the mixed-use property is the first of PMG’s Society Living platform to enter the Atlanta market and will include 460 residential units, 81,000 square feet of office space and 16,500 square feet of retail space. Juneau Construction Company is the general contractor for the property which is scheduled to open in late 2024.
It will offer traditional multifamily and “Rent-by-Bedroom” coliving options with amenities including a rooftop pool and restaurant, a coworking lab with private conference rooms, a gym and fitness studio.
Ryan Shear, managing partner at PMG, said: “We are excited to reach this milestone and begin ground-up 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. Midtown Atlanta is experiencing incredible growth and we feel confident Society Atlanta will be a welcome concept to the area with its focus on fostering community among neighbours and visitors alike.”
This property continues the expansion of PMG and Greybrook’s national Society Living portfolio, which was “created to address the insatiable demand for reasonable rents close to urban centres, where modern neighbours can connect and thrive together”.
“Society Atlanta will weave directly into the urban fabric of Peachtree Street,” said Jenny Williams, associate principal in the mixed-use residential studio at Cooper Carry. “It will activate the city’s premier road with a striking design and features like outdoor dining. We’re excited to be part of the team bringing 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, opening in Summer 2022; Society Wynwood, underway in Miami’s Wynwood Arts District; and Society Orlando, under construction in Downtown Orlando. More than 8,500 units are planned nationally including additional developments in Atlanta, Brooklyn, Denver and Nashville.
“Society Atlanta is part of a broader rollout of Society Living communities that have performed extremely well to date,” said Sami Mouaket, director of US investments and developments at Greybrook. “With a special emphasis on major metros in the southeast, given the region’s strong fundamentals, Society Atlanta allows us to enter a market that has long been of interest. Atlanta and in particular the Midtown submarket have demonstrated exceptional resilience in recent years.”
