Thompson Thrift Breaks Ground on 300-Unit Rivet Apartments in Chelsea Alabama

Thompson Thrift announced the development of Rivet, a 300-unit Class A apartment community in Chelsea, located in the Birmingham metropolitan area.

The community will be situated on nearly 29 acres along the U.S. 280 corridor. According to the company, Chelsea is one of the fastest-growing and most affluent communities in the Birmingham region.

“Chelsea is one of the most attractive growth markets in the area, supported by strong economic fundamentals, continued investment and a highly desirable location,” said Josh Purvis, managing partner for Thompson Thrift Residential. “With limited opportunities for new multifamily development in the area, Rivet is uniquely positioned to help meet the growing demand for high-quality apartment homes while creating an exceptional living experience for residents.”

First residents are expected to move in during late 2027. The community will offer a mix of 1-bedroom, 2-bedroom, and 3-bedroom apartment homes. Unit features will include quartz countertops, stainless-steel appliances, tile backsplashes, hardwood-style flooring, full-size washers and dryers, smart-home technology, spacious walk-in closets, and patio, balcony, and private yard options.

Community amenities will include a resort-style heated swimming pool, 24-hour fitness center, pickleball court, grilling areas, fire pit, social hub with billiards and shuffleboard, dog park, pet spa, business center with conference rooms and focus suites, and an Amazon package hub.

The location provides access to Grandview Medical Center, Meadow Brook Corporate Park, Tattersall Park, The Summit Mall, University of Alabama Birmingham, Samford University, and downtown Birmingham. The corridor includes more than 18 million square feet of shopping, dining, and entertainment.

According to the release, Chelsea’s population has grown approximately 16% since 2020. Shelby County maintains the lowest unemployment rate in Alabama, supported by healthcare, technology, and banking employers in the metro area.

The development is being capitalized with equity from the Thompson Thrift 2025 Multifamily Development, LP. Over the past 40 years, Thompson Thrift has invested more than $7.3 billion into local communities.