Sunday, December 3, 2023

Thompson Thrift to Develop Luxury Multifamily Community Near Phoenix

PHOENIX, June 22, 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 Stella, a 308-unit, Class A multifamily community in the Phoenix suburb of San Tan Valley. Thompson Thrift plans to begin construction in June and welcome new residents beginning in late 2024.

“San Tan Valley is part of Arizona’s rapidly growing Pinal County,” said Josh Purvis, managing partner for Thompson Thrift Residential. “We are excited that residents will have a top-quality new rental option to choose from when Stella opens its doors next year.”

Located on a 20-acre site near North Gary Road and West Hunt Highway, Stella will consist of 12 two- and three-story buildings, a resort-style swimming pool with adjacent lawn and outdoor pavilion, two pickleball courts, two dog parks and relaxing gardens with fruit trees and fountains. The one-, two-, and three-bedroom apartment homes will offer up to 1,513 square feet and residents will be able to select from a variety of layouts and signature amenities including private enclosed yards or patio options and detached single-car garages. The apartment homes will be finished with elegant quartz countertops, hardwood style-flooring, stainless steel appliances, high-speed, instant-on internet access, ceiling fans, full-size washer and dryer, smart thermostat and an Alexa-compatible smart hub.

The pet-friendly luxury community will be close to multiple outdoor activities, including hiking, biking, or exploring the San Tan Mountain Regional Park, a national park that is located two miles west of the property. Residents will be living near an array of retail options that include national tenants such as Starbucks, Taco Bell, Panda Express, Chipotle and Burger King, with a high-volume Walmart Supercenter adjacent to the property. In addition, Hunt Highway provides future residents with ease of access to nearby Queen Creek, Mesa, Gilbert, Chandler and Loop 202.

The employment corridor along Loop 202 features high-paying jobs from companies such as Liberty Mutual, Deloitte, Dignity Health and Isagenix. Additionally, Arizona State University’s new Mesa City Center, a new state-of-the-art digital media learning center, is 10 minutes north. The area is also home to two airports – Phoenix Mesa Gateway Airport and the Chandler Municipal Airport.

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.

This will be Thompson Thrift’s sixth community in Arizona.

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

Jennifer Franklin
Spotlight Marketing Communications   
[email protected]               

SOURCE Thompson Thrift

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