Greystar Closes on Chamblee City Center, a 340-Unit Mixed-Use Development in Downtown Chamblee

Greystar announced Nov. 4 that it has closed on the land for Chamblee City Center, a planned mixed-use development at 5520 Peachtree Road in Chamblee, Georgia, a submarket of Atlanta. The transaction was completed in partnership with the Chamblee Downtown Development Authority, with Stream Realty serving as the authority's representative.

The 7.24-acre project will include 340 studio, one- and two-bedroom apartments in three buildings, more than 29,000 square feet of street-level retail and dining, and a one-acre community park. Construction is scheduled to begin in November, with completion projected for December 2028.

Chamblee City Center Development Details

Chamblee City Center will consist of a three-building multifamily community on the 7.24-acre site. Greystar said the residential component will total 340 units across studio, one- and two-bedroom floor plans.

Planned amenities include a resort-style pool with cabanas, a shared courtyard between buildings with lounge areas and outdoor grilling stations, and an expansive fitness center. Residents will also have access to lounges and coworking spaces, a game room with a golf simulator, and a rooftop Sky Lounge overlooking the Town Green and Downtown Chamblee.

Approved plans include a 192,000-square-foot parking garage with 673 spaces, 176 of which are allocated to retail and restaurants. The plans also include nearly three acres of total open space and a roughly 1.5-acre central lawn. The site lies between Peachtree Road, Ingersoll Rand Drive, Irvindale Drive and Broad Street. It is near Chamblee City Hall and the Chamblee MARTA station, with planned connections to the Chamblee Rail Trail.

Retail and Dining Component

The project's street-level retail and dining space totals more than 29,000 square feet. Vantage Realty Partners will curate the retail tenants. Under the approved concept, the commercial space includes five standalone commercial buildings.

Gene Rice, co-founder of Vantage, said the company's purpose is "to create environments where community can gather over food, drink, music, art and experiences." He said Vantage's vision is "to curate a group of Best-In-Class operators for the restaurants and shops that will activate the streetscape," and that Chamblee City Center "can become a natural extension of the downtown experience."

Partnership With the Chamblee Downtown Development Authority

The land transaction involved the Chamblee Downtown Development Authority, which controlled the vacant land being redeveloped. Greystar and Vantage were selected in 2024 to redevelop the properties, and city-approved plans were in place by late 2025.

Katherine Mosley, Managing Director of Development at Greystar, said the project "represents an exciting opportunity to contribute to the continued growth of Downtown Chamblee through a thoughtfully designed, mixed-use development." She said the combination of rental housing, retail and dining, public green space and connections to the Chamblee Rail Trail "will create a meaningful extension of Downtown Chamblee."

Matt Sitter, Chair of the Chamblee Downtown Development Authority, said the project "brings together a long term vision for housing, retail, dining and public green space in a way that supports our vibrant, connected and walkable downtown."

Timeline and Market Context

Construction is set to begin in November, with apartment leasing expected to start in August 2028 and completion projected for December 2028. The multiyear schedule means the 340 apartments will reach the market in late 2028.

The project follows a mixed-use model in suburban Atlanta in which apartments anchor demand while restaurants, shops, public green space and amenity programming create a district-scale destination. Its proximity to Chamblee MARTA rail and the planned rail-trail connections are intended to increase pedestrian circulation between the development, City Hall and existing downtown businesses.

About Greystar

Greystar is headquartered in Charleston, South Carolina, and offers property management, investment management, development and construction services in institutional-quality rental housing. The company said it manages and operates over $300 billion of real estate in 265 markets globally, manages more than one million units and beds, and has over $79 billion of assets under management. Greystar was founded by Bob Faith in 1993.

Sources

Greystar, "Greystar Closes on Chamblee City Center," Nov. 4, 2026: https://www.greystar.com/business/about-greystar/newsroom/greystar-closes-on-chamblee-city-center