New adult community complex to be built behind Quest
This is an artist rendering that shows what Pollack Shores Real Estate Group, an Atlanta-based company, plans to build behind Quest Elementary School in Viera.
A new 166-adult apartment complex is scheduled to be built behind Quest Elementary School in Viera.
Located at 8920 Trafford Drive, Olea at Viera will offer one-, two- and three-bedroom apartment homes ranging from 630 to 1,510 square feet. All units will feature granite countertops, stainless steel appliances, 9- and 10-foot ceilings, luxury wood-style plank flooring and spacious walk-in closets.
Multifamily developer and investment firm Pollack Shores Real Estate Group, an Atlanta-based company, plans to develop the 5¼-acre complex.
The company is set to break ground in January. Olea at Viera is set to open in April 2020, and plans to offer a top-notch, customized living experience. The company recently built Marisol at Viera, a 282-unit luxury apartment complex at 2439 Casona Lane in Viera.
Pollack Shores’ Olea brand is centered around community — it is the idea that today’s baby boomers, who are more active than preceding generations, seek a turnkey, vibrant living experience via specialized events and programming unique to their neighborhood, according to the company’s website.
“Olea at Viera plays a significant role in our next chapter as a company,” said Steve Shores, CEO and co-founder of Pollack Shores. “Age-targeted communities have always been a part of our story, and the establishment of the Olea brand only escalates our commitment to delivering quality apartment homes to this audience.”
New data from the U.S. Census Bureau shows there are about 74 million baby boomers between 54 and 72 years old, marking a 63 percent increase for that age bracket when compared to the previous generation.
“The over-50 renter is one of the fastest growing consumer groups in the U.S., and their influence on the market is only getting stronger,” Shores said. “This generation wants to be close to family while also being connected to an authentic community that challenges conventional standards of senior living. The flexibility of leasing and ability to provide a new experience to this resident profile make communities such as Olea at Viera an attractive option.”
The new complex also will house social areas for residents to mingle, including a large social kitchen, pool courtyard, library, community garden and fitness studio with state-of-the-art athletic equipment and ample room for group fitness classes. A full-time lifestyle director will join the on-site team to coordinate events such as cooking classes, cocktail socials and seasonal crafting.
“Residents will enjoy a full calendar of activities at Olea at Viera, along with the everyday conveniences in the immediate neighborhood,” said Michael Oliver, development manager at Pollack Shores. “Interest in the project is high, and we look forward to starting pre-leasing in early 2020.”
Oliver said the company plans to hire six people — a property manager, two leasing office representatives, an activities coordinator and a service/maintenance assistant and supervisor.
The complex is situated near major retail centers, entertainment destinations, recreational facilities and healthcare services. Oliver said residents will be within close proximity to the entire Viera community, including The Avenue Viera and Viera Hospital.
Oliver said the company plans to construct 96 one-bedroom units, 64 two-bedroom units, and six three-bedroom units. The name of the complex — Olea — is Latin for olive tree. “It is symbolic of our company’s philosophy of longevity, community, friendship,” Oliver said.
Although he declined to disclose unit prices, Oliver said Olea at Viera will be comparable in price to Discovery Village in Melbourne.
“We like Viera in general, and with the success we have at Marisol, and the good relations we have with The Viera Co., it was easy for us to build a second complex for our more mature renters,” Oliver concluded.
Pollack Shores is an award-winning full-service real estate company creating value through multifamily investment opportunities throughout the Sun Belt. The company is currently active in Viera, Atlanta, Orlando, Tampa, Jacksonville, South Florida, Raleigh, Charlotte, Dallas, Austin, Nashville and Richmond. The firm also is the parent company of the property management firm Matrix Residential, which has nearly 31,000 units under management across eight states.
For more information about Pollack Shores, go to pollackshores.com.