Thompson Thrift Plans 273-Unit Multifamily Community in Reno, Its First Nevada Project
Thompson Thrift announced that it will develop Argent Flats, a 273-unit multifamily community in Reno, marking the Indianapolis-based developer’s first project in Nevada.
“Reno offers a compelling combination of economic strength and lifestyle appeal, and we are excited for Argent Flats to bring a thoughtfully designed living experience to the market,” said Josh Purvis, managing partner for Thompson Thrift Residential.
The development will be capitalized with equity from the Thompson Thrift 2026 Multifamily Development, LP, which closed last month with more than $222 million in total capital commitments from more than 350 investment partners.
The project expands the company’s footprint to 24 states. Thompson Thrift expects to welcome the first residents in September 2027.
Positioned at the intersection of Plumas Street and South McCarran Boulevard in southwest Reno, Argent Flats is near I-580, downtown Reno, the Reno-Tahoe International Airport and the Tahoe-Reno Industrial Center. The community is located near major employers including Tesla, Panasonic Energy, Renown Health and the University of Nevada, Reno.
Argent Flats will feature a mix of studio, one-, two-, and three-bedroom units with quartz countertops, stainless-steel appliances, hardwood-style flooring, full-size washers and dryers, large walk-in closets, smart-home technology and private balcony, patio and yard options.
Community amenities include a two-story clubhouse, fitness center, a golf simulator and putting green, as well as a swimming pool, electric firepits, grilling areas, conference space, billiards and shuffleboard, a pet spa and dog park.
Over the past 40 years, Thompson Thrift has invested more than $7.2 billion into local communities. The company is engaged in all aspects of development, construction, leasing and management of real estate projects across the country.
Last month, the company closed Thompson Thrift 2026 Multifamily Development, LP with more than $222 million in total capital commitments from more than 350 investment partners, including accredited investors, qualified purchasers, registered investment advisers and select institutions.
The company said the offering sought to raise between $200 million and $230 million and represents Thompson Thrift’s eighth multi-project equity partnership. It will fund seven new Class A multifamily developments across growth markets nationwide.
Thompson Thrift is a full-service real estate development company focused on ground-up residential, commercial, and mixed-use development across the Midwest, Southeast, and Southwest. Last month, the company named JR Plyler as chief investment officer. Plyler leads investment strategy, capital markets and asset management for the firm.
Visit the AltsWire directory page.
