PMG, Raven Capital Break Ground on Orlando Towers
- Mar 06, 2020
PMG and Raven Capital Management have begun construction on the initial two towers of the 19-story Society Orlando, a new community in downtown Orlando, Fla.
Set to include three towers when complete, the development is the fourth bearing PMG’s Society imprimatur, targeted at those who want to live affordably in downtown districts. It is the largest residential project to date in downtown Orlando. Last October, the partners announced a similar development in downtown Phoenix.
Located at 434 N. Orange Ave., next to the Orange County Courthouse, the first two towers are scheduled to be completed in the fourth quarter of 2022. They will feature 464 apartments, along with approximately 70,000 square feet of commercial space.
The two towers under construction feature 217 and 247 units. The unit mix will feature efficiently-designed studios, as well as one- and two-bedroom floorplans, available furnished. In addition, fully furnished co-living three- and four-bedroom units will be offered, with a private bedroom and bathroom for each resident.
Apartments will feature floor-to-ceiling windows with roller shades, tile flooring throughout, custom Italian cabinetry, modern appliances and smart locks and thermostats. Among the amenities include a coworking lab with reservable conference rooms.
“When looking at downtown Orlando’s immense growth, it was clear that traditional luxury buildings don’t provide housing options for the economic diversity and communal values of its modern workforce,” Ryan Shear, PMG managing partner, told Multi-Housing News. “PMG’s Society portfolio creates attainably priced social apartment communities that embrace a village mentality for well-connected living. Residents enjoy gorgeous new homes in the best downtown locations, with shared spaces and community events that bring neighbors together. It’s a natural fit.”
Asked to identify any hurdles that may have arisen thus far, Shear was brief. “Thankfully it’s been smooth sailing,” he said. “All stakeholders want this project to be a success.”
Hallmarks of the Society brand include, according to a company statement, rents within reach for residents in emerging urban cores, activated shared spaces, traditional units with efficient layouts, co-living options and host events promoting culture, wellness, growth and togetherness.