Thompson Thrift to Develop Florida Community
Construction will begin on the Pensacola project later this month.
Thompson Thrift will expand its multifamily footprint in Florida with a 324-unit project situated in the state’s panhandle. The company is expecting to start construction on The Quinn in Pensacola this month and is planning to welcome its first residents in late 2024.
The Quinn will comprise nine three-story garden-style apartment buildings and offer one-, two- and three-bedroom units averaging approximately 1,000 square feet. The units will include washers and dryers, smart thermostats and Alexa-compatible smart hubs, as well as balconies or patios, private yards and detached single-car garages. Common amenities will include a clubhouse, fitness center, pool, turf area and dog park, as well as grilling areas, fire pits, cabanas and pickleball courts.
Located at the intersection of W Nine Mile Road and Beulah Road, The Quinn will be located near a newly-constructed Publix supermarket. The community is also two miles away from the W Nine Mile Road and Interstate 10 interchange that will offer easy access to downtown Pensacola. Residents will be able to commute to the area’s major employers, including the Navy Federal Credit Union, Baptist Healthcare Campus, Naval Air Station and Pensacola State College.
Josh Purvis, managing partner for Thompson Thrift Residential, said in prepared remarks that though the Pensacola population has grown in the last ten years, new multifamily construction has not kept pace with demand.
From panhandle to Port St. Lucie
For Thompson Thrift, The Quinn will be the company’s 11th multifamily project in Florida. The firm has been expanding its multifamily presence from the state’s panhandle to cities further south, like Sarasota and Port St. Lucie. In May 2022, Thompson Thrift started work on Drift, its 300-unit luxury community in Daytona Beach, Fla., and Canter, a 320-unit Class A community in Ocala, Fla.
Outside the Sunshine State, Thompson Thrift has a portfolio that includes more than $4 billion of ground-up developments across the Midwest, the Southeast and the Southwest. More recently, the company started work on The Garrison, a 336-unit community in Fountain, Colo.