Thompson Thrift to Develop 324-unit Luxury Multifamily Development Near Boulder, Colorado

BOULDER, Colo., Dec. 26, 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 Heritage on Hover, a 324-unit Class A multifamily community in the Boulder suburb of Longmont. Construction is expected to be completed in winter 2026.

"Longmont and the surrounding Boulder area have become a magnet for growth, attracting a thriving population and some of the nation's fastest-growing private companies," said Josh Purvis, managing partner for Thompson Thrift Residential. "With a strong economy, low unemployment, and a highly educated workforce, the demand for quality housing options continues to rise. Heritage on Hover will deliver a modern and luxurious rental experience, providing residents with the style, comfort, and convenience that Thompson Thrift communities are known for."

Located near the intersection of Mountain Brook Dr. and S Hover St., Heritage on Hover will feature three-story buildings with one-, two- and three-bedroom layouts averaging nearly 1,000 square feet. Thompson Thrift apartment homes include premium interior finishes, including quartz countertops, stainless steel appliances, side-by-side refrigerators, full-size washers and dryers, large walk-in closets and multiple smart home capabilities. Additionally, select homes will feature cabinetry with soft-close doors, a deluxe closet system with shelving, premium lighting, a dry bar and advanced smart home capabilities. Private patios, balconies, yards and detached garage options will also be available.

Resort-style living will continue throughout the community with signature amenities, including an outdoor entertainment kitchen and grilling areas, a fully equipped 24-hour fitness center, a resort-style heated swimming pool and spa, electric firepits with seating areas, a billiards and shuffleboard area, a dog park, bike storage and a Starbucks™ coffee bar. Residents working from home will enjoy the convenience of focus suites and community-wide Wi-Fi. An on-site service team, valet trash service and a user-friendly mobile app will also be available.

Heritage on Hover will provide residents with walkable access to a Target-anchored retail center and presents a great opportunity for workforce travel via nearby I-25 to employment hubs in Boulder, Fort Collins and Denver.

According to a recent Smart Asset ranking, Longmont was ranked the #1 "Boomtown in America." Boulder County, where Longmont is located, is one of the most educated counties in the country and is home to several advanced technology companies that specialize in cutting-edge research and development. Companies like IBM, Google, Microsoft, Oracle, Intel, Seagate, Xilinx, Lockheed Martin, Ball Aerospace, Sierra Nevada, and others populate the regional landscape.

Equity for the development was provided by Thompson Thrift 2024 Multifamily Development Fund, LP.

Thompson Thrift has been active in Colorado for 11 years and has developed over 4,700 units in the state, which currently includes 11 communities between Fort Collins and Colorado Springs.

Thompson Thrift is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. Since its founding nearly 40 years ago, Thompson Thrift has invested more than $6 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive multifamily and commercial communities.

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.

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Spotlight Marketing Communications   
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SOURCE Thompson Thrift