Thompson Thrift to Develop 276-Unit Multifamily Luxury Community in Colorado Springs

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Sep 19, 2024, 08:00 ET

Switch will be the company's 18^th apartment development in Colorado

COLORADO SPRINGS, Colo., Sept. 19, 2024 /PRNewswire/ -- Thompson Thrift, a full-service nationally recognized real estate company and one of the nation's leading multifamily developers, today announced that it will develop Switch, a 276-unit Class A multifamily community, within Colorado Springs' Polaris Pointe development. The company will begin construction this month with first resident move-ins targeted for fall 2025.

"Colorado Springs consistently ranks among the best places to live in the United States, and its economy produces extremely favorable fundamentals that outperform the national averages," said Josh Purvis, managing partner for Thompson Thrift Residential. "We look forward to bringing another distinctive Thompson Thrift community to this vibrant metro area and providing residents with top-notch amenities and service."

Located on approximately 11 acres at the intersection of two major thoroughfares, Voyager Parkway and North Gate Blvd., Switch offers excellent visibility and connectivity to I-25, allowing residents to reach top area employers within a few minutes, including the U.S. Air Force Academy, UCHealth Memorial Hospital North and Progressive Insurance. Residents can also reach greater Colorado Springs in 20 minutes and downtown Denver in only 40 minutes.

Switch will provide 276 apartment homes in one-, two- and three-bedroom configurations. Apartment homes will average 1,000 square feet and feature a host of premium amenities including stainless-steel appliances, glass-top ranges, hardwood-style flooring, a walk-in shower, multiple smart home capabilities and full-sized washers and dryers. Additionally, select units will offer premium appliances, cabinetry with soft-close doors, a deluxe closet system with shelving and garage options.

Signature community amenities will include a fully equipped 24-hour fitness center, resort-style heated swimming pool, electric firepits, a billiards and shuffleboard area, bike storage and workshop, a dog park and pet spa, and a Starbucks™ coffee bar. Residents may also utilize the residence conference room with video conference technology, the outdoor entertainment kitchen, and community-wide wi-fi. An on-site service team and a user-friendly mobile app will also be available.

Switch is strategically located within Colorado Springs' Polaris Pointe development, a 60-business, 200-acre retail complex that also features the brand-new Ford Amphitheater, an 8,000-seat entertainment venue that includes a 45,000-square-foot, year-round restaurant and event center. Additional dining, entertainment and shopping options at Polaris Pointe include Sprouts, Bass Pro Shops, Chick-fil-A, Top Golf, indoor skydiving at iFly, trampoline and adventure park AirCity 360 and Overdrive Raceway.

U.S. News & World Report ranked Colorado Springs as the second most desirable place to live in the U.S. for 2023 through 2024 and the ninth best place to live out of the U.S.' 150 most populous metro areas. Additionally, Colorado Springs ranks 15th out of 200 cities nationally on the Milken Institute's 2024 Best-Performing Large Cities report, which indexes several metrics including job creation, wages and high-tech growth.

Multiple semiconductor manufacturers, aerospace and defense, and IT companies including Boecore, Meyer Burger, Entegris, Zivaro, Microchip Technologies, and others have announced plans to expand operations in the area. These expansions are expected to create more than 3,500 new jobs and have a multi-billion-dollar impact on the local economy.

The city has also made a significant investment in tourism and entertainment with its City for Champions projects, a collection of five new distinct venues including the U.S. Olympic & Paralympic Museum, Weidner Field, Ed Robson Arena, the William Hybl Sports Medicine & Performance Center and the Air Force Academy Gateway Visitor Center.

Thompson Thrift is a full-service real estate development company focused on multifamily, ground-up commercial, and mixed-use development across the Midwest, Southeast, and Southwest. For nearly 40 years, Thompson Thrift has invested more than $5 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive multifamily, commercial and industrial projects.

Switch will be the 10^th and final project funded with equity from the Thompson Thrift 2023 Multifamily Development, LP. The development is Thompson Thrift's 18^th Colorado multifamily community. The company continues to expand its footprint with eight new residential developments targeted for 2024, including new markets in Georgia, Utah and Idaho.

About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Denver; Houston; and Phoenix. Three business units drive Thompson Thrift's success: Thompson Thrift Residential, which is focused on upscale Class A multifamily communities and luxury leased homes; Thompson Thrift Commercial, which is focused on ground-up commercial development; and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of development, construction, leasing, and management of quality commercial real estate projects across the country. The company earned national recognition from Energage as a winner of a 2024 Top Workplaces USA award and five Culture Excellence awards, the latest accolades that reflect the company's ongoing commitment to excellence in the community and workplace. For more information, please visit www.thompsonthrift.com.

Contact:
Jennifer Franklin
Spotlight Marketing Communications
949.427.1385
[email protected]

SOURCE Thompson Thrift