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12/10/2024
 
Posted By: Admin DreamingCode

WOBURN, MA, December 10, 2024 - PRM is pleased to announce the commencement of construction of The Santé at Wellness Way, a new ground-up 330-unit Class “A" apartment community situated on 27 acres in Clermont, Florida. The Sante' at Wellness Way is part of Clermont's Olympus development, a $1 billion+ mixed-use community and innovation corridor master-planned community. This development represents PRM's 18th ground-up development and will be consistent with the best-in-market amenities that PRM incorporates into all its developments.

The Olympus master-planned community is a 243-acre health/wellness campus that will ultimately be home to 15,000 people, which will encompass a blend of lifestyle options including residential, commercial, athletic, and entertainment venues. The Santé at Wellness Way represents PRM's second multifamily project adjacent to the master-planned community. It is anticipated that the Olympus development will foster over 5,000 jobs and $1.4 billion in economic impact.

The Wellness Way corridor is ideally between Interstate 4, Florida's Turnpike, and U.S. Highway 27. Residents of The Santé at Wellness Way will have convenient access to a variety of major employers, the largest being Walt Disney World Resort, the largest single-site employer in the United States with approximately 70,000 employees.

The Orlando MSA continues to post some of the nation's strongest population and job growth figures in the country, growing at more than double the national rate. The U.S. Census Bureau estimates that the Orlando MSA attracts nearly 1,000 new residents weekly. Washington DC-based econometric consulting firm Woods & Poole Economic estimated in 2022 that the population of the Orlando-Kissimmee-Sanford metro area would attract approximately 1,500 residents per week over the next 11 years.

The city of Clermont has benefited from such growth. Since 2009, its population has grown from 12,535 residents to over 47,000 in 2023, representing a 350% increase.

PRM anticipates that The Santé at Wellness Way 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