PRESS
09/04/2024
WOBURN, MA, September 4, 2024 - PRM is pleased to announce the commencement of construction of Jackson Parc, a new ground-up 343-unit Class “A" apartment community situated on 26.76 acres in North Augusta, South Carolina. Jackson Parc represents PRM's fourth ground-up development project associated with PRM's Fund V, and its 19th ground-up construction project since inception. Consistent with all of PRM's developments, Jackson Parc will represent an attractive lifestyle design and best-in-market amenities that PRM incorporates into all its developments.
The new community will be located within “The Hive" a new 170-acre mixed-use, master-planned community directly off Interstate 20. The Hive will be minutes from the central business districts of both Augusta and North Augusta and a 20-minute drive from the Augusta Regional Airport. The region's central location offers access to the Port of Savannah, which provides excellent logistical benefits to companies such as Cardinal Health and Coca-Cola.
Over the last decade, the Augusta MSA has consistently shown strong population growth. Since 2009, the population increased from 539,154 to 629,419 (as of 2023), representing a 16.74% increase and nearly doubling the United States population growth of 8.19% over the same period.
A variety of industries that include healthcare, energy, military/defense, manufacturing, and education populate the MSA. In particular, cyber-security entities, both public and private, make their mark as the leading employers in the region. While the region is best known for the Augusta National Golf Club, the largest contributor to the local economy is Fort Eisenhower (formerly known as Fort Gordon), a 55,596-acre military installation, which hosts the U.S. Army Cyber Center of Excellence, the National Security Agency (NSA), and the Department of Homeland Security. Complementing this leading cyber-security hub is an ever-growing healthcare sector that is led by the Augusta University Medical Center. Collectively, over 51,000 people are employed by the local healthcare industry generating approximately $1.6 billion in economic impact for the MSA.
PRM anticipates that the Jackson Parc project will be completed in the first quarter of 2027.
About PRM
Panther Residential Management is a Boston-based private equity real estate firm engaged in acquiring, developing, and managing multifamily communities throughout the Southeastern United States and other select markets. Since its inception in 2009, PRM has acquired or developed over 13,533 residential apartment units with a combined transaction value of approximately $3.8 billion.
For additional information, please contact:
Investor Relations
Panther Residential Management
ir@pantherrm.com
781.935.4500, Ext. 233
The new community will be located within “The Hive" a new 170-acre mixed-use, master-planned community directly off Interstate 20. The Hive will be minutes from the central business districts of both Augusta and North Augusta and a 20-minute drive from the Augusta Regional Airport. The region's central location offers access to the Port of Savannah, which provides excellent logistical benefits to companies such as Cardinal Health and Coca-Cola.
Over the last decade, the Augusta MSA has consistently shown strong population growth. Since 2009, the population increased from 539,154 to 629,419 (as of 2023), representing a 16.74% increase and nearly doubling the United States population growth of 8.19% over the same period.
A variety of industries that include healthcare, energy, military/defense, manufacturing, and education populate the MSA. In particular, cyber-security entities, both public and private, make their mark as the leading employers in the region. While the region is best known for the Augusta National Golf Club, the largest contributor to the local economy is Fort Eisenhower (formerly known as Fort Gordon), a 55,596-acre military installation, which hosts the U.S. Army Cyber Center of Excellence, the National Security Agency (NSA), and the Department of Homeland Security. Complementing this leading cyber-security hub is an ever-growing healthcare sector that is led by the Augusta University Medical Center. Collectively, over 51,000 people are employed by the local healthcare industry generating approximately $1.6 billion in economic impact for the MSA.
PRM anticipates that the Jackson Parc project will be completed in the first quarter of 2027.
About PRM
Panther Residential Management is a Boston-based private equity real estate firm engaged in acquiring, developing, and managing multifamily communities throughout the Southeastern United States and other select markets. Since its inception in 2009, PRM has acquired or developed over 13,533 residential apartment units with a combined transaction value of approximately $3.8 billion.
For additional information, please contact:
Investor Relations
Panther Residential Management
ir@pantherrm.com
781.935.4500, Ext. 233
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