PMG, Greybrook Purchase Land to Develop Society Atlanta Mixed-Use Project
ATLANTA — Miami and New York-based PMG and Toronto-based Greybrook Realty Partners, in a joint venture, have acquired 811 Peachtree St. N.E. with plans to develop Society Atlanta, a 460-unit mixed-use project within the PMG’s Society Living multifamily brand. Mark Lindenbaum of JLL brokered the transaction. The land price was $20.3 million. The seller was not disclosed.
Designed by Atlanta-based architecture firm Cooper Carry, Society Atlanta will feature 70,000 square feet of office space and 16,000 square feet of retail space. Slated for delivery in the first quarter of 2024, the 33-story development will include traditional apartment units and “rent-by-bedroom” or co-living options. Community amenities at Society Atlanta will include a pool deck, fitness center and co-working facilities.
Society Atlanta will continue the expansion of PMG’s national Society Living portfolio, which was created to address demand for reasonable rents close to urban areas. Other Society Living developments include Society Las Olas in downtown Fort Lauderdale, Fla., which opened in May 2020; Society Biscayne in downtown Miami, slated to open in early 2022; Society Orlando, currently under construction in downtown Orlando; and Society Wynwood, under construction in Miami’s Wynwood Arts District. Additionally, Society Denver was announced in August.