Thompson Thrift to Develop 300-Unit Multifamily Community Near Orlando, Florida

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Oct 25, 2023, 09:00 ET

New development brings Thompson Thrift's multifamily portfolio to 20,000 units

ORLANDO, Fla., Oct. 25, 2023 /PRNewswire/ -- Thompson Thrift, a full-service nationally recognized real estate company and one of the nation's leading multifamily developers, announced today the development of Standard441, a new 300-unit multifamily community in the Orlando suburb of Lady Lake. Thompson Thrift plans to begin construction this month and welcome new residents beginning in late 2024.

"Lady Lake is a fast-growing area that shows no signs of slowing down," said Josh Purvis, managing partner for Thompson Thrift Residential. "The area is expected to nearly double in size by 2040, providing Thompson Thrift the perfect opportunity to develop a high-end multifamily community that will offer residents the ability to live close to work and enjoy the benefits of nearby retail, entertainment and recreation."

Located off Highway 441 on the northeast side of The Villages master-planned community, the 15.26-acre community will offer one-, two- and three-bedroom apartment homes in three-story buildings. The apartment homes will feature hardwood-style flooring, stainless steel appliances, patio and balcony options, private yard options, upgraded unit options, detached garages and a full-size washer and dryer. Each home will also feature Alexa-compatible smart home packages.

Luxury living will continue throughout the gated community, including a fully equipped fitness center with 24-hour access, resort-style heated swimming pool and outdoor spa, outdoor pool pavilion with a built-in fireplace and grills, pickleball court, dog park and pet spa, 24-hour social hub, work from home focus suites and electric vehicle charging.

The site is across the street from UF Health The Villages® Hospital, which is the largest, most comprehensive provider of health care services in the region. Nearby Highway 441, which is the main thoroughfare for The Villages, will provide residents with convenient access to nearly 3 million square feet of retail, dining and entertainment options, as well as other major employers including Arcosa, Ash Grove, Advent Health Ocala and the U.S. Department of Justice.

The Villages MSA was the #1 fastest growing metropolitan area in the U.S. during the past decade and projections indicate that the area has the potential to double in total size in coming years.

This development marks Thompson Thrift's 12^th multifamily community in Florida and brings the company's total number of multifamily units to 20,000.

During the past 30 years Thompson Thrift has developed more than $4 billion of ground-up development projects across the Midwest, Southeast and Southwest. The company made a name for itself by being one of the few developers to build high-quality, attractive Class A residential communities with a variety of conventional, luxury leased villa and townhome-style communities. In 2021, the company earned the distinction of being named one of GlobeSt. Real Estate Forum's Influencers of Multifamily Real Estate.

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 as a winner of a 2023 Top Workplaces USA award, the latest accolade that reflects 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