A New York real estate developer’s recently launched affordable housing arm is heavily focused on deals in Tampa and St. Petersburg, with the head of the division referring to the Bay area as the company’s “epicenter” outside of New York.
PMG, which has offices in New York and Miami, is best known for ultra-luxe condominiums in NYC and Miami. In 2019, PMG launched an affordable housing division with a focus on the Southeast — especially Tampa — as well as Texas and the Southwest.
… There is now a “tremendous need” for affordable housing, said Dan Coakley, principal of PMG Affordable.
PMG’s new division is making a long-term commitment to Tampa and Florida in particular, Coakley said, with plans to build a development pipeline of thousands of units in the years to come.