Thompson Thrift to Develop Luxury Multifamily Community in Phoenix

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Nov 06, 2023, 15:10 ET

Refinery will be the residential portion of Company's mixed-use development near the Taiwan Semiconductor Plant

PHOENIX, Nov. 6, 2023 /PRNewswire/ -- Thompson Thrift, a full-service nationally recognized real estate company, announced today the development of Refinery at Pointe17, a 224-unit Class A multifamily community near the $40+ billion Taiwan Semiconductor Plant (TSMC) in northern Phoenix. Construction is set to begin this month and Thompson Thrift plans to welcome new residents starting in the latter half of 2025.

"We had a distinct vision for this unique property and are pleased to have the opportunity to collaborate with Thompson Thrift's residential, commercial and construction teams on this mixed-use development," said Josh Purvis, managing partner for Thompson Thrift Residential. "Refinery at Pointe17's balance of style, convenience and amenities will make it a standout addition to the Phoenix metro."

Located just off Interstate 17 at the southwest corner of Dove Valley and the newly approved 29^th Avenue intersection, Refinery at Pointe17 will offer one-, two- and three-bedroom apartment homes that average 1,000 square feet. Residents will enjoy luxury amenities including 9' ceilings, stainless-steel appliances, tile backsplashes, designer fixtures and finishes, hardwood-style flooring, large walk-in closets, patio and balcony options, a full-size washer and dryer, as well as a suite of Alexa-compatible smart home technology.

Luxury living will continue throughout the community with a fully equipped 24-hour fitness center, yoga and spin studio, bike storage, resort-style heated swimming pool, firepits with seating area, community grilling areas, pickleball court, 24-hour business center, private focus rooms and offices for rent, rooftop deck, event lounge, over 80 on-site electric vehicle charging spaces, dog park and pet spa and billiards and shuffleboard.

Refinery is the multifamily portion of Pointe17, Thompson Thrift's mixed-use development that will put Refinery's residents within walking distance of various retail and dining options. Oregano's, a local, family-owned restaurant; Twisted Sugar, a gourmet cookie shop; Over Easy, a breakfast and brunch restaurant and Foothills Grille, a new restaurant concept from the operators of Pinnacle Grill, have already committed to the site.

Additionally, Heartland Dental, Yoga Six, BFT fitness studio, The Bar, and a nail spa have also signed leases to open at the center.

Residents will also be a few miles from the Shops at Norterra, an upscale north Phoenix lifestyle center with 354,000 square feet of specialty retailers, restaurant and large national tenants including Walmart, TJ Maxx/HomeGoods, Dicks Sporting Goods, Best Buy, PetSmart, World Market, Barnes & Noble, Lowes and 14 screen Harkins Theater.

Alongside the property is Skunk Creek Wash natural preserve, which will feature pedestrian amenities and running paths from Dove Valley south to Sonoran Desert Parkway. Thompson Thrift's design plan features seamless pedestrian connection to the preserve's trail as well as complementary community amenities like volleyball courts, green space for yard games and ramadas.

Refinery is within one of the best school systems in North Phoenix. The high performing Deer Valley Unified School District holds a 95% graduation rate and was recently ranked the #8 best school district in the state of Arizona.

The nearby Interstate 17 interchange will serve as the main entrance to TSMC, the first phase of which is currently under construction. At full build out, the semiconductor plant is projected to add an additional 80,000 jobs by companies interested in working alongside TSMC.

Phoenix is the fifth largest city in the nation and has experienced double-digit growth in recent years thanks to large companies like TSMC, Amex, USAA, Discover, and Honeywell expanding their presence in the market.

Thompson Thrift is a full-service real estate development company focused on ground-up commercial and multifamily development across the Midwest, Southeast and Southwest. Since its founding more than 30 years ago, Thompson Thrift has invested more than $4 billion in real estate developments in 21 states. The company and its leaders are frequent recipients of distinctions and awards conferred by regional and national organizations that reflect the company's ongoing commitment to creating environments of excellence in both the community and the workplace.

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