Thompson Thrift to Develop Colorado Community
First move-ins are expected in late 2024.
Thompson Thrift has entered the Greeley, Colo., market with its plans to develop a 336-unit community as its latest Colorado project. The multifamily developer is planning to start construction on Premier at West Park this month, while first move-ins are expected in late 2024.
The Class A community will offer one-, two- and three-bed units averaging approximately 1,000 square feet, and spread throughout 10 three-story garden-style buildings. The units will be built with an Alexa-compatible smart hub, bar-kitchens, quartz countertops, tile backsplashes, stainless steel appliances, walk-in closets, full-size washer and dryers, and patio, balcony or yard options. Thompson Thrift will also include a clubhouse, heated pool, fitness center, Amazon package hub, dog park, pet spa with grooming station, outdoor game area, pickleball court, courtyards, grilling stations, and gas fire pits as the community’s common amenities.
Located on a 21-acre site at 4118 Centerpiece Drive, the community is three miles away from downtown Greeley and 50 miles away from downtown Denver. The community has easy access to the U.S. Highway 34, which gives residents a short commute to major employers like JBS Swift, Banner Health and the University of Northern Colorado. Premier at West Park is also adjacent to the Centerplace of Greeley, a major retail and dining destination with tenants like Target, Safeway, Best Buy and T.J. Maxx.
Josh Purvis, managing partner for Thompson Thrift Residential, said in prepared remarks that the Greeley market is seeing strong demand and significant rent increase due to population and job market growth. Purvis added in his prepared remarks that the company believes the market will continue to see growth.
Colorado Communities Under Construction
While Greeley is a new market for Thompson Thrift, Premier at West Park is the company’s 15th project in Colorado. The company had a busy 2022 in Colorado, starting off with plans to develop the 336-unit luxury apartment community Natch66 in Longmont, Colo. A month later in March, Thompson Thrift broke ground on The Quarry, a 319-unit community in Fort Collins, Colo. More recently, the company announced plans to develop Alta25, a 264-unit luxury community in Monument, Colo. In total, Thompson Thrift has four communities currently under construction in the state.
Thompson Thrift’s development portfolio extends far beyond Colorado. The company’s past experience includes more than $4 billion in ground-up development projects across the Midwest, Southeast and Southwest, including a 344-unit luxury community project in Grand Rapids, Mich.