A mixed-use venture with what’s described as a unique approach to urban livability and more than 450 new homes is officially under construction on Atlanta’s signature street, developers announced today.
National real estate firm PMG and Toronto-based private equity and asset management company Greybrook Realty Partners announced the official groundbreaking for a 31-story mixed-use project called Society Atlanta. Site work has been underway at the 811 Peachtree Street property for several weeks.
The 460-apartment project will qualify for what PMG calls its Society Living multifamily platform, which means a blend of traditional rentals and co-living—or “Rent-By-Bedroom”—options will be offered. The concept was created “to address the insatiable demand for reasonable rents close to urban centers,” per PMG and Greybrook officials.
Beyond apartments, the building will offer 81,000 square feet of office space and 16,500 square feet for retail. It’s expected to open in late 2024.
Amenities will include a rooftop pool and restaurant (above the parking podium), a coworking lab described as “massive,” plus an “expansive modern gym” and fitness studio.
The Cooper Carry-designed building is claiming a surface parking lot at the southeast corner of Peachtree and 6th streets. The pricey, 1.27-acre parcel sold for $20.3 million in September, according to reps with New York and Miami-based PMG.
For years, The Integral Group was planning a visually striking apartment tower called EVIVA Peachtree for the site but eventually walked way in 2018, reopening the lot for parking.
More than 8,500 units are planned nationally as part of Society Living developments, including Society Las Olas in downtown Fort Lauderdale that opened in 2020. Others in Miami, Orlando, Brooklyn, Denver, and Nashville are either under construction or in planning.
Below are highlights from the development team’s prepared statements regarding the Society Atlanta project and Midtown in general, as submitted via email today:
Ryan Shear, PMG’s managing partner, said Midtown “is experiencing incredible growth,” and his company is bullish the Society project “will be a welcome concept to the area with its focus on fostering community among neighbors and visitors alike.”
Sami Mouaket, Greybrook’s director of U.S. investments and developments, said other Society Living ventures have performed “extremely well” so far. “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,” said Mouaket. “Atlanta and in particular the Midtown submarket have demonstrated exceptional resilience in recent years.”
Jenny Williams, Cooper Carry’s associate principal in the firm’s mixed-use studio, said the project “will weave directly into the urban fabric of Peachtree Street,” and “activate the city’s premier road with a striking design and features like outdoor dining.”
• Going up: Architectural Midtown tower officially under construction (Urbanize Atlanta)