Dive Brief:
- Stone Martin Builders, a single-family home builder based in Auburn, Alabama, has launched a new division, Stone Martin Commercial, focused on commercial construction projects.
- The new division aims to partner with developers on master-planned communities and small-scale commercial projects, according to a news release shared with Multifamily Dive.
- To lead the new division, Stone Martin Builders has brought in Drew Brown, formerly vice president of Auburn, Alabama-based Rabren General Contractors, as vice president of commercial construction.
Dive Insight:
In this new division, Brown aims to leverage the builder’s existing reputation, subcontractor base and quality control processes.
"With over 30 years of diverse experience spanning various sectors of commercial construction, Drew [Brown] brings invaluable expertise and a proven track record of success," said John Manasco, chief operating officer of Stone Martin Builders, in the release. “Under his leadership, we can expand organically, utilizing our established relationships and dedication to quality to support growth and create jobs in the local business community.”
Stone Martin Builders, established in 2006, was ranked at No. 86 on the 2024 Builder 100 list of the largest builders in the country, with 645 homes closed and $256 million in revenue in 2023. Its unit mix last year included 627 detached for-sale homes, 10 attached for-sale homes and eight single-family build-to-rent homes. The majority of its current projects are in Alabama and Georgia.
“I am motivated by the opportunity to build upon Stone Martin's sterling reputation and expand Stone Martin Builder’s presence into the commercial construction market," Brown said in the release. "My goal for Stone Martin Commercial is to focus on quality, innovation and client satisfaction while fostering a culture of collaboration and growth within the company."
Stone Martin Builders isn’t the only residential firm expanding its reach. Greystar, the No. 1 multifamily developer, owner and manager in the country, recently announced an expansion into infrastructure development, with a focus on clean power, data centers, transition fuels, social infrastructure, transportation and logistics facilities. Like Stone Martin, Greystar said it intends to leverage its existing reach to secure project opportunities.
“The infrastructure business will fit in seamlessly within the Greystar platform, leveraging the internal resources and scale of the broader business,” Michael Hoverman, executive director of infrastructure at Greystar, told Multifamily Dive.
