Thompson Thrift Breaks Ground on 327-Unit Class A Community in North Charleston, Expanding to 25 States

NORTH CHARLESTON, S.C. — Thompson Thrift has announced the development of The Whitmore at Ingleside, a 327-unit Class A multifamily community situated within the Ingleside master-planned development in North Charleston, South Carolina. The project marks the Indianapolis-based firm's first development in South Carolina and expands its national operating footprint to 25 states.

Construction began in September 2026, with resident move-ins targeted for November 2027. The development will be capitalized with equity from the Thompson Thrift 2026 Multifamily Development, LP, with securities offered through North Capital Private Securities.

Project Details and Amenity Profile

The Whitmore at Ingleside will occupy approximately 19 acres near the Weber Boulevard interchange and Interstate 26. The community will comprise studio, one-, two-, and three-bedroom apartment homes across three- and four-story buildings.

Unit interiors will feature quartz countertops, stainless-steel appliances, hardwood-style flooring, smart-home technology, full-size washers and dryers, walk-in closets, and detached garages, along with private patio, balcony, and yard options. Community amenities will include a resort-style swimming pool, 24-hour fitness center, pickleball court, pocket park, electric firepit gathering areas, grilling stations, a pet spa, two dog parks, and a resident social hub with billiards, a coffee bar, focus suites, a conference room, and coworking-style spaces.

The project is situated within the 1,500-acre Ingleside master-planned development, which integrates commercial, industrial, and recreational uses alongside more than 200 acres of green space.

Strategic Entry Into the Charleston Market

"Expanding into South Carolina and reaching 25 states is an important milestone for Thompson Thrift," said Josh Purvis, Managing Partner of Thompson Thrift Residential. "We are excited to enter the Charleston market with The Whitmore at Ingleside, a thoughtfully designed community that will meet the region's growing demand for high-quality rental housing in a well-connected location."

The community's location provides residents with access to downtown Charleston, Charleston International Airport, Palmetto Commerce Park, Joint Base Charleston, Boeing, Mercedes-Benz Vans, and other major employers in the region. Jesse Houghtalen, Senior Vice President of Development, pointed to the area's infrastructure and employment base as central to the site selection.

"The Whitmore at Ingleside is positioned to benefit from the Charleston region's strong connectivity, continued employment and population growth and expanding infrastructure," said Jesse Houghtalen. "Residents will enjoy convenient access to major employers, downtown Charleston and other key destinations, as well as the amenities and recreational opportunities planned within the Ingleside community."

Charleston Market Context

The Charleston region has attracted significant employer investment across aerospace, healthcare, advanced manufacturing, logistics, and life sciences. Recent expansions include Roper St. Francis Health's $1.2 billion, 328-bed hospital campus in North Charleston, Boeing's $1 billion expansion, a Volvo Cars expansion expected to generate approximately 1,600 additional jobs, and KEEL's $70 million defense manufacturing facility supporting U.S. Navy submarine programs.

Charleston's multifamily market recorded an average rent of $1,798 per unit and an occupancy rate of 91.7% in the first quarter of 2026, with trailing four-quarter net absorption of 4,075 units and annual rent growth of 0.4%. The figures reflect a market absorbing meaningful new supply while maintaining relatively stable fundamentals.

The Whitmore at Ingleside's location near I-26 and the Weber Boulevard interchange targets an inland submarket where land availability and infrastructure investment have supported continued development activity.

Thompson Thrift's National Platform

Thompson Thrift has invested more than $7.3 billion into communities across the country over approximately 40 years, spanning development, construction, leasing, and property management. The firm ranks 15th nationally among apartment developers on the NMHC 2026 Top Developers list, with 3,245 units started in 2025 and 2,659 units started in 2024.

With South Carolina added to its portfolio, Thompson Thrift now operates across 25 states, up from 23 states in 2025. The firm's multifamily platform focuses primarily on market-rate, conventional apartment communities, with The Whitmore at Ingleside reflecting that strategy in a Southeast market the company identifies as among the region's fastest-growing.