National investment, development, and asset management firm PMG, and Toronto-based private equity and asset management firm Greybrook Realty Partners, Monday announced the groundbreaking of Society Atlanta, a 31-story multifamily development, at 811 Peachtree St.
Designed by national architecture firm Cooper Carry, the mixed-use property is the first of PMG’s Society Living “multifamily 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 anticipated to open in late 2024.
“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,” Ryan Shear, managing partner at PMG, said. “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 neighbors and visitors alike.”
Society Atlanta will offer “efficiently designed traditional layouts” alongside “Rent-by-Bedroom” (co-living) options with amenities including a rooftop pool and restaurant, a co-working lab with private conference rooms, and a gym and fitness studio.
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 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 within a culture of inclusivity and unity.”
“Society Atlanta will weave directly into the urban fabric of Peachtree Street,” Jenny Williams, Associate Principal in the Mixed-Use Residential Studio at Cooper Carry, said. “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, slated to open in Summer 2022; Society Wynwood, underway in Miami’s Wynwood Arts District; and Society Orlando, under construction in Downtown Orlando. Over 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,” Sami Mouaket, Director of U.S. Investments and Developments at Greybrook, said. “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.”