Thompson Thrift Plans Orlando-Area Luxury Community
The firm's Watermark 2022 Multifamily Development Fund provided the capital for the project in Ocala.
Thompson Thrift Residential, the subsidiary of multifamily developer Thompson Thrift, will develop Canter, a luxury multifamily community in Ocala, Fla., within the Orlando metropolitan area. Thompson Thrift’s Watermark 2022 Multifamily Development Fund IV LP, provided the equity capital for 320-unit, Class A development. Construction will start this month, with first move-ins anticipated to take place in the summer of 2023.
Bearing an address at 4945 SW 49th Place, Canter will sprawl across a 23-acre parcel. The community will feature two-story garden-style structures offering direct-unit access. Included will be one-, two- and three-bedroom apartments averaging about 1,100 square feet. Features and finishes of apartments will include smooth glass cooktops, side-by-side refrigerators, quartz countertops, stainless steel appliances and full-size, in-unit washers and dryers. Dog spas will be among common-area amenities.
In a statement, a Thompson Thrift Residential official noted that Ocala’s population growth has greatly outstripped supply of new housing in the last several years. That has forced a number of Ocala residents to begin hunting for rental apartments outside the borders of the city. The official noted company hierarchy is avidly looking forward to bringing the city a luxury apartment community close to where Ocalans work.
The location of Canter will put its residents within a 10-minute commute to downtown Ocala. It will also enable them to live across the street from West Marion Community Hospital. This 186-bed hospital has won multiple awards for its orthopedic, cardiac and neurological services. Moreover, the apartment community will be located less than 1 mile from 60th Avenue, providing direct access to Ocala International Airport.
Fittingly given Ocala’s status as a “Horse Capital of the World,” providing 44,000 equestrian-related jobs, it will be close to the $600-plus million World Equestrian Center. One day ago, Ocala was identified as one of the markets being eyed by EDEN Living for build-to-rent developments.