The firm expands its age-targeted Olea brand with 175-unit project in Nocatee
ATLANTA (April 5, 2019) – Multifamily developer and investment firm Pollack Shores Real Estate Group today announced Olea at Nocatee, a 175-unit active adult apartment community located at 50 Pine Shadow Parkway in Ponte Vedra, Florida.
Olea at Nocatee marks the second project under Pollack Shores’ newly launched, age-targeted Olea brand, which provides residents with an active, flexible lifestyle and community events such as chef demonstrations, happy hours and multiple fitness classes each week. Construction will commence in April 2019, with first move-ins scheduled for July 2020.
Situated within the master planned community of Nocatee just a short drive from Ponte Vedra’s pristine beaches and approximately 30 minutes south of Jacksonville, Olea at Nocatee will offer a turnkey living experience targeted to the growing senior population. Developed by The PARC Group and recently named as one of the top ten selling master planned communities in the U.S., Nocatee provides convenient access to beaches, world-class shopping and restaurants, golf courses, hospitals and top-ranked schools. The community is also located near Flagler Center, which is home to leading employers such as Baptist Medical Center South and Citicorp.
“Nocatee’s rapid growth and exceptional quality of life make it the ideal setting for our second addition to our Olea portfolio,” said Steven Shores, President and CEO of Pollack Shores. “There is clear demand for high-caliber active adult communities within Jacksonville, and our unique development will be tailored to the growing population of Class A renters moving to the area. The Olea brand will continue to be a top focus for Pollack Shores as we expand in key markets across the Sun Belt.”
Olea at Nocatee will offer one-, two-, and three-bedroom apartment homes ranging from 625 to 1,535 square feet. Each unit will feature granite countertops, stainless steel appliances, luxury wood-style plank flooring, 9-foot ceilings and spacious walk-in closets. The property will provide designated areas for residents to mingle and entertain, including a social kitchen, pool courtyard, community garden, dog park, library, and fitness studio with state-of-the art athletic equipment and ample room for group classes.
Olea at Nocatee will also have a full-time lifestyle director who will organize and coordinate events such as wine tastings, movie and game nights, lawn games, pet socials, holiday parties, cooking classes, seasonal crafting and more.
“64 percent of Nocatee residents move from outside the Jacksonville metropolitan area, and we expect Olea at Nocatee to capture newcomers who seek flexibility and social experiences,” said Michael Oliver, Development Manager at Pollack Shores. “Whether it’s walking at the beach at Mickler’s Landing, riding a golf cart to dinner at Nocatee Town Center, or meeting up for an impromptu gathering with neighbors, this community is ideal for baby boomers who want to live an active life close to family and friends.”
Olea at Nocatee is located near several new and upcoming developments including a future Baptist Health facility, a corporate office park and a variety of retail offerings. Residents can also enjoy more than 70 restaurants and shops at Nocatee Town Center, including South Kitchen, The Loop Pizza Grill, Publix, Big Fish Yoga and the future GreenWise Market by Publix.
The project is the second development within Pollack Shores’ Olea portfolio. The first, Olea at Vierain Melbourne, Florida, was announced in December 2018 and will open in April 2020.
Known for acquiring, developing, managing and investing in best-in-class multifamily communities, Pollack Shores is currently active in Atlanta, Orlando, Tampa, Jacksonville, South Florida, Raleigh, Charlotte, Charleston, Dallas, Austin, Nashville and Richmond. The firm is also the parent company of property management firm Matrix Residential, which has nearly 31,000 units under management across eight states.
About Pollack Shores Real Estate Group, LLC
Pollack Shores is an award-winning full service real estate company creating value through multifamily investment opportunities throughout the Sun Belt. Founded in 2006, the Atlanta-based company has acquired and developed more than 22,000 multifamily units since inception and currently owns $1.8 billion in total assets. Pollack Shores also owns and operates Matrix Residential, an innovative property management firm dedicated to creating exceptional experiences for every resident, property and client. Matrix Residential manages a balanced portfolio of nearly 31,000 multifamily units across eight states.
Together, Pollack Shores and Matrix Residential are rooted in their mission of maximizing the value and living experience for every community. For more information about Pollack Shores, visit pollackshores.com/. For more information about Matrix Residential, visit matrixresidential.com/.