Thompson Thrift Breaks Ground on Colorado Community
Notch66 marks the firm's 13th development in the state.
Thompson Thrift Residential is poised to develop Notch66, a luxury apartment community in Longmont, Colo., a Boulder suburb. The 336-unit property is slated for completion by the first quarter of 2024. Watermark 2021 Development Fund III LP provided the equity for the development.
With an address at 2514 Main St. and Ute highway, Notch66 will feature one-, two- and three-bedroom garden-style apartments on an 18.4-acre parcel. Residences will offer quartz countertops, tile backsplashes, large walk-in closets, hardwood-style flooring and, in some floorplans, detached garages with private yards. Common area amenities include a 24-hour fitness center.
In a statement, a Thompson Thrift Residential official termed Longmont the nation’s top boomtown. The city’s population growth benefits from access to dozens of the fastest-growing private companies in the U.S., located in the Boulder area. Sometimes called “the Silicon Valley of the Rockies,” the Boulder metropolitan area has witnessed strong employment expansion in recent years. Most recently, the Denver-Boulder area has begun attracting life sciences companies drawn by its 1.6 million square feet of space.
The competitive housing market in Boulder and Longmont is based on low unemployment rates, robust population growth and a highly-educated workforce.
Notch66 will be situated on the north side of Longmont, providing future residents quick and easy commutes to both Boulder and Denver. The location is minutes from downtown Longmont, known for its vibrant array of distinctive restaurants, shops, public art galleries and craft breweries, cideries and distilleries. These businesses are part of the city’s Colorado Certified Creative District and National Historic District.
Notch66 will be the second Thompson Thrift Residential community situated in Longmont, and its 13th community in the Centennial State. Last month, Thompson Thrift closed its fourth multifamily fund, which will be used to develop 10 new luxury apartment communities across the U.S.