Construction is underway on a 319-unit apartment community rising along the Silver Comet Trail in Powder Springs, bringing three- and four-story buildings of one-, two- and three-bedroom rentals to a stretch of Highway 278 that has long been dominated by single-family homes. The project, called Avira at Silver Comet Trail, sits at the southeast corner of Highway 278 and Isley Stamper Road and is expected to welcome its first residents in October 2027.
Indianapolis-based Thompson Thrift is moving ahead on the development, according to Connect CRE, which reports the community will offer access to downtown Powder Springs, nearby healthcare providers, major retail destinations and employment centers across the Atlanta metro area. The site's location was no accident. Site selection was driven by proximity to major regional job hubs, including the Westside Logistics & E-Commerce Industrial Corridor, which supports more than 28,000 jobs, as well as Wellstar Paulding Medical Center and Wellstar Cobb Medical Center, according to Business Wire.
Amenities Built for a Trail-Side Lifestyle
Per the same account, the community will include private patio, balcony and yard options along with a swimming pool, fitness center, courtyards and grilling areas. Residents will also have access to coworking-focused suites, a dog park, a pet spa, a basketball court, a pickleball court and shuffleboard, plus billiards and other lifestyle-focused amenities.
The apartment complex takes its name from the trail it borders. The Silver Comet Trail is a 61.5-mile non-motorized paved rail-trail spanning Cobb, Paulding and Polk counties, built on an abandoned Seaboard System railroad line, according to the PATH Foundation. When connected to Alabama's Chief Ladiga Trail, it forms a continuous 94.5-mile paved trail system, the second-longest in the United States.
A Trail Network Racing Toward Downtown Atlanta
The trail's regional importance is growing fast. The PATH Foundation and local partners expect to finish key elevated sections of the Silver Comet Connector by August 2027, creating a car-free network linking the trail in Cobb County directly to the Atlanta BeltLine and downtown Atlanta, as Hoodline reported in its coverage of the connector's construction into Underwood Hills. That timeline lands within weeks of Avira's own October 2027 move-in target, positioning the new complex to open just as the trail's link to the city center nears completion.
Thompson Thrift's push into Powder Springs traces back to municipal paperwork filed over a year ago. In June 2025, Thompson Thrift Residential submitted zoning applications to the City of Powder Springs Planning & Zoning Commission to rezone the 14.7-acre parcel along C.H. James Parkway, another name for Highway 278, from Cobb County single-family residential to City Mixed Use, according to City of Powder Springs records.
Financing Ties Back to a $222 Million Fund
The project is being capitalized with equity from the Thompson Thrift 2026 Multifamily Development, LP, a $222 million fund that closed in February 2026 with more than 350 investment partners backing seven Class A developments across five states, according to AltsWire. That same fund financed Lineage, the Dacula apartment community Thompson Thrift broke ground on earlier this year, as previously reported by Hoodline. Thompson Thrift has been expanding aggressively across suburban metro Atlanta, having closed on its 100th nationwide community, Lineage, in February 2026 alongside Wrenley, a 214-unit project in Newnan, according to Thompson Thrift's own pressroom.
Founded 40 years ago and celebrating its anniversary in 2026, the Indianapolis firm has deployed more than $1.9 billion in equity capital to develop over 27,000 multifamily units valued above $6.1 billion across 24 states since launching its dedicated multifamily division in 2008, per Multifamily Executive.
Powder Springs Is Not the Only One Watching
Thompson Thrift isn't the only developer betting on rental demand near the trail. Alpharetta-based Trilogy Investment Company paid $14.3 million in April to advance REV3 at Hill Road, a 120-unit build-to-rent townhome community near downtown Powder Springs and the Silver Comet Trail, Hoodline reported in April.
The interest in rental housing comes as Powder Springs remains a fundamentally homeowner-driven community. The city reached an estimated population of 19,251 in 2025, up from 16,915 recorded in the 2020 Census, with a median household income of $102,164 and an 80% owner-occupied housing rate, according to City of Powder Springs demographic profiles based on Esri data. Separate U.S. Census Bureau American Community Survey data cited by Data USA puts the city's homeownership rate at 82.4%, well above the national average of 65.2%, while median property values rose 17.3% to $332,900 between 2023 and 2024. Rising home values in a market that has historically prized single-family ownership appear to be opening space for Class A rental alternatives like Avira to take hold.
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