Developer Mark Randall cut his teeth over the last few decades building apartments for Atlanta’s middle-class with properties such as Alta Ridgewalk, a complex of low-rise buildings clustered around a swimming pool in suburban Atlanta.

That development stands in contrast to one of his newer projects, a luxury project dubbed Inman Quarter. Located in a trendy neighborhood east of downtown Atlanta, the units feature quartz countertops and the complex has a rooftop club room; the ground floor is filled with retail stores and...