Thompson Thrift Begins Colorado Springs Community
This is the firm's 13th project in the state.
Thompson Thrift has started construction on its latest Colorado multifamily community – the 336-unit Venture on Venetucci, located in Colorado Springs. The 16.5-acre development is expected to be completed by March 2027.
The Thompson Thrift 2025 Multifamily Development, LP, will provide equity capital for the development. The national real estate company has been active in Colorado for 12 years and has built more than 5,600 units in the state. Thompson Thrift currently has 12 communities between Colorado Springs and Fort Collins. In February, the firm began construction on Stack at Wheat Ridge, a 255-unit project located in the Denver suburb of Wheat Ridge, Colo. That project is slated for delivery in winter 2026.
Venture on Venetucci will be located at 4446 Venetucci Blvd. , featuring a mix of one-, two- and three-bedroom apartments averaging 1,000 square feet. Unit interiors will have quartz countertops, stainless-steel appliances, glass-top ranges, tile backsplashes and hardwood-style floors. Other amenities will include large walk-in closets, walk-in showers, full-size washers and dryers, high-speed internet access, detached garages and options for private yards, patios and balconies.
Community amenities to be offered include a fitness center with 24-hour access, a heated swimming pool, grilling areas, pickleball court, billiards, shuffleboard, a business center with conference room and focus suites as well as an Amazon package hub. The pet-friendly property will have a dog park and pet spa with grooming stations.
Venture on Venetucci has views of Pikes Peak and Cheyenne Mountain and residents will be near trails and other outdoor recreation offerings. Retail and fast-casual restaurant options include Cheyenne Mountain Shopping Center and South Academy Highlands, a new shopping center featuring Sam’s Club, Walmart, MOD Pizza, Jersey Mike’s Subs and Starbucks. Broadmoor World Arena, an 8,000-seat multi-purpose arena, is also a few minutes from the property.
Ventures near Venture
The property has connectivity to South Academy Boulevard and Interstate 25, which provides access to downtown Colorado Springs and Colorado Springs Airport. Top area employers include Fort Carson, Amazon Distribution and UCHealth Memorial Hospital Center, all within 6 miles of the site.
Peak Innovation Park, a 1,600-acre master-planned business center near Colorado Springs Airport, is less than 5 miles from Venture on Venetucci. The business campus has more than 4,000 employees across multiple businesses including three Amazon facilities, The Aerospace Corp. and Northrop Grumman.
Growing region
Colorado Springs has one of the nation’s fastest-growing economies and ranks 5th out of 403 cities nationally on Milken Institute’s 2025 Best-Performing Cities – Economic Resilience and Opportunity report. Since 2022, 23 companies have announced expansion plans in Colorado Springs with development projects expected to bring more than 4,000 jobs and more than $2 billion in capital investment.
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The city has invested in tourism and entertainment, including the new U.S. Olympic & Paralympic Museum, Weidner Field, Ed Robson Arena, the Hybl Sports Medicine & Performance Center and the Air Force Academy Visitor Center. The projects are expected to generate thousands of jobs and have more than $1 billion in economic impact.
The Colorado Springs multifamily market had an occupancy rate of 94 percent at the end of the first half of 2025, up 80 basis points from the second half of 2024 and a 170 basis point increase year-over-year, according to CBRE. The firm’s H1 2025 report for the market notes absorption remains healthy but is declining as new units are delivered. However, new completions have fallen from their peak in the second half of 2023, when 3,666 units delivered. In the first half of this year, 543 units were completed, down from 1,974 units in the second half of 2024.
Thompson Thrift’s activities
Thompson Thrift has invested more than $6.6 billion in residential and commercial properties since its founding nearly 40 years ago. The firm has two offices in Indiana – Terre Haute and Indianapolis – as well as locations in Denver, Phoenix and Houston.
In September, the company began construction of Autry at Tulip Grove, a 300-unit luxury multifamily community in Buford, Ga., in Gwinnett County. Completion is expected by January 2027. The project marks Thompson Thrift’s third ground-up development in Georgia as the firm continues to expand its national footprint.
Several months earlier, the company broke ground on The Union at Fishers District, a 251-unit apartment community in the Indianapolis suburb of Fishers, Ind. The project is the final phase of construction for the Fishers District, a 123-acre, $750 million mixed-use development.
