Greystar Closes on Land for Flats at Mountain Marketplace
Press Release
November 5, 2025
Atlanta, GA – November 5, 2025 – Greystar, a global leader in investment management, development, and property management, and Whitman Peterson, an institutional real estate investment company, today announced the successful land closing and construction start for Flats at Mountain Marketplace, a new 248-unit residential development in Atlanta, Georgia.
The 6.02-acre multifamily development site is a vital component of a new 31-acre master plan by Fuqua Development, which will feature Costco, Chick-Fil-A, Whataburger, and a community park directly adjacent to the new apartment community. All residential buildings will be four stories with elevators in each, offering one- two- and three-bedroom units.
The development site is conveniently situated off Exit 9 along Stone Mountain Freeway (Hwy 78), a major east-west corridor connecting Atlanta to eastern submarkets, with more than 60,000 vehicles passing daily.
“With Flats at Mountain Marketplace, we’re excited to offer future residents convenient access to retail, recreation, and employment within a dynamic and growing submarket, while delivering a community that provides both meaningful lifestyle value and enduring quality,” said Lewis Stoneburner, Senior Managing Director for Greystar Development.
The surrounding neighborhood includes big box retailers like Walmart, Lowe's, Home Depot, LA Fitness, and more. Directly north of the site, across Stone Mountain Freeway, is a multi-tenant shopping center containing a large grocery store, movie theater, restaurants, retail, and service establishments. Stone Mountain Park, located west of the property, will be visible to residents.
“Flats at Mountain Marketplace reflects our commitment to delivering high-quality housing in strategically located, high-growth areas where residents can truly live, work, and thrive,” said Katherine Mosley, Managing Director for Greystar Development.
Residents of Greystar's Flats at Mountain Marketplace will enjoy the convenience of living within a 10-minute drive from all essential amenities, ensuring a seamless and comfortable lifestyle while providing much needed housing with attainable price points for the area.
Construction is scheduled to begin by May 2026, with leasing anticipated by November 2027 and completion expected by February 2028.
About Greystar
Greystar is a leading, fully integrated global real estate platform offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing. Headquartered in Charleston, South Carolina, Greystar manages and operates over $300 billion of real estate in more than 250 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing over 1,000,000 units/beds globally. Across its platforms, Greystar has nearly $79 billion of assets under management, including over $35 billion of development assets and over $30 billion of regulatory assets under management. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business.
About Whitman Peterson
Whitman Peterson (“WP”) is an institutional real estate investment company, making and actively managing opportunistic real estate investments on behalf of institutional investors. The firm focuses on highly strategic GP-aligned partnerships with some of the nation’s top vertically integrated real estate companies in its target sectors. WP and Greystar have been strategic partners since WP’s formation in 2010 and have invested together in more than 175 asset-level investments, across multifamily, active adult, student, and logistics strategies. WP and Greystar have capitalized and developed over 7.5M square feet of warehouse and logistics space together, representing over $1.1B in total capitalization. Across all Whitman Peterson’s funds and GP-aligned partnerships, the firm has made more than 300 investments, in transactions involving more than $30B of total capitalization. Whitman Peterson is headquartered in the Greater Los Angeles area.
Media Inquiries
Amy Fitzgerald
Amy.fitzgerald@greystar.com
The 6.02-acre multifamily development site is a vital component of a new 31-acre master plan by Fuqua Development, which will feature Costco, Chick-Fil-A, Whataburger, and a community park directly adjacent to the new apartment community. All residential buildings will be four stories with elevators in each, offering one- two- and three-bedroom units.
The development site is conveniently situated off Exit 9 along Stone Mountain Freeway (Hwy 78), a major east-west corridor connecting Atlanta to eastern submarkets, with more than 60,000 vehicles passing daily.
“With Flats at Mountain Marketplace, we’re excited to offer future residents convenient access to retail, recreation, and employment within a dynamic and growing submarket, while delivering a community that provides both meaningful lifestyle value and enduring quality,” said Lewis Stoneburner, Senior Managing Director for Greystar Development.
The surrounding neighborhood includes big box retailers like Walmart, Lowe's, Home Depot, LA Fitness, and more. Directly north of the site, across Stone Mountain Freeway, is a multi-tenant shopping center containing a large grocery store, movie theater, restaurants, retail, and service establishments. Stone Mountain Park, located west of the property, will be visible to residents.
“Flats at Mountain Marketplace reflects our commitment to delivering high-quality housing in strategically located, high-growth areas where residents can truly live, work, and thrive,” said Katherine Mosley, Managing Director for Greystar Development.
Residents of Greystar's Flats at Mountain Marketplace will enjoy the convenience of living within a 10-minute drive from all essential amenities, ensuring a seamless and comfortable lifestyle while providing much needed housing with attainable price points for the area.
Construction is scheduled to begin by May 2026, with leasing anticipated by November 2027 and completion expected by February 2028.
About Greystar
Greystar is a leading, fully integrated global real estate platform offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing. Headquartered in Charleston, South Carolina, Greystar manages and operates over $300 billion of real estate in more than 250 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing over 1,000,000 units/beds globally. Across its platforms, Greystar has nearly $79 billion of assets under management, including over $35 billion of development assets and over $30 billion of regulatory assets under management. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business.
About Whitman Peterson
Whitman Peterson (“WP”) is an institutional real estate investment company, making and actively managing opportunistic real estate investments on behalf of institutional investors. The firm focuses on highly strategic GP-aligned partnerships with some of the nation’s top vertically integrated real estate companies in its target sectors. WP and Greystar have been strategic partners since WP’s formation in 2010 and have invested together in more than 175 asset-level investments, across multifamily, active adult, student, and logistics strategies. WP and Greystar have capitalized and developed over 7.5M square feet of warehouse and logistics space together, representing over $1.1B in total capitalization. Across all Whitman Peterson’s funds and GP-aligned partnerships, the firm has made more than 300 investments, in transactions involving more than $30B of total capitalization. Whitman Peterson is headquartered in the Greater Los Angeles area.
Media Inquiries
Amy Fitzgerald
Amy.fitzgerald@greystar.com