Thompson Thrift Residential to Develop Luxury Multifamily near Tampa
Thompson Thrift Residential and joint venture partner Altura Capital have begun construction on Palm Grove Luxury Apartment Homes in the Tampa suburb of Ellenton, FL. Completion of the 320-unit project is expected in Q2 2023.
“This area has seen some of its fastest community growth in recent years, and employment growth is expected to outpace the national average for the next six years,” said Brian Southworth, Thompson Thrift Residential’s SVP of acquisitions and partner. “For-sale home values have increased 14% over the past year, and so we are excited that residents will have a top-quality new rental option to choose from when Palm Grove opens its doors next year.”
The 27-acre site will offer two-story buildings with detached garages and resort-style amenities. A mix of one-, two-, and three-bedroom layouts will average 1,100 square feet.
Palm Grove will be the eighth multifamily community Thompson Thrift Residential has developed in FL.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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