Thompson Thrift to Kick Off Metro Denver Luxury Project

A private real estate partnership will provide equity for the development.

This July, Thompson Thrift will break ground on The Landing at Lemay, a 344-unit luxury project in Fort Collins, Colo. Thompson Thrift 2024 Multifamily Development LP, a private real estate partnership which sought to raise approximately $270 million in aggregate capital, will provide equity for the development.

Studio M Architecture & Planning provided design services, while Ripley Design served as landscape architect. Avant Civil Group and Delich assisted with the project’s civil and traffic engineering, respectively. Devita, a provider of mechanical and electrical engineering services, will also be part of the team. First move-ins are expected by late 2025.

A luxury community to come online in Greater Denver

Set to include 18 buildings across 17 acres, this will be Thompson Thrift’s first community in the West to incorporate carriage homes with units built atop attached private garages, as well as the company’s first development to make use of a large-scale EV charging capability.

Floorplans are to include one- to three-bedroom units. Apartments will average some 1,020 square feet, as reported by BizWest. The homes will feature glass top ranges and smart-home technology, among others.

Community amenities are slated to comprise a gym, a swimming pool, firepits, a game room, a dog park and a pet spa. Additionally, an outdoor kitchen and work-oriented focus suites will also be available.

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Located at the intersection of North Lemay Avenue and East Vine Drive, the project’s site is 1 mile from downtown Fort Collins. A variety of quick-service restaurants and retail options are within walking distance, while several parks and lakes can be found within a 2-mile radius.

In the decade ending in 2022, Fort Collins’ population spiked by 12.1 percent and landed at 169,248, according to the U.S. Census Bureau. Seizing the opportunity, developers had north of 1,000 units under construction in the city as of July, Yardi Matrix data shows.

The Landing at Lemay marks the company’s 17th Colorado project. Additionally, Thompson Thrift will bolster its footprint with eight new developments in 2024, some of them targeting new markets in Georgia, Utah and Idaho.

Denver’s multifamily supply pipeline

Greater Denver’s pipeline had more than 40,800 units under construction in July, according to Yardi Matrix. Year-to-date, developers broke ground on some 840 units in the metro while bringing online upward of 5,600 units.

Thompson Thrift delivered one such Denver development in May. The developer opened Notch66, a 336-unit community in Boulder, Colo.’s Longmont suburb. A $67.5 million note from Wells Fargo facilitated its construction.

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