Indianapolis-based Thompson Thrift, a full-service national real estate company, 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.
Switch will be the 10th and final project funded with equity from the Thompson Thrift 2023 Multifamily Development, LP, a private placement fund that raised more than $390 million from accredited investors in 2023. The development is Thompson Thrift’s 18th Colorado multifamily community.
“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 Boulevard, according to Thompson Thrift, Switch offers 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 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, hardwood-style flooring, multiple smart home capabilities, and full-sized washers and dryers. Additionally, select units will offer premium appliances, cabinetry with soft-close doors, and a deluxe closet system.
Signature community amenities will include a fully equipped 24-hour fitness center, resort-style swimming pool, electric firepits, a billiards and shuffleboard area, bike storage, 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.
Switch is 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 restaurant and event center. Additional dining, entertainment, and shopping options at Polaris Pointe include Sprouts, Bass Pro Shops, Chick-fil-A, and indoor skydiving at iFly.
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.
According to Thompson Thrift, 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, and Ed Robson Arena.
The company continues to expand its footprint with eight new residential developments targeted for 2024, including new markets in Georgia, Utah and Idaho.
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.
Click here to visit The DI Wire directory page.
Read the full article here