Thompson Thrift Taps $222M Development Fund for Second Boise-Area Project

Thompson Thrift has begun construction on The Highline, a 300-unit multifamily community in Nampa, Idaho, its second development in the Boise metro area. The project sits about 1 mile from The Logan, the Indianapolis-based developer’s first Idaho community.

The Highline will be capitalized with equity from Thompson Thrift 2026 Multifamily Development, LP, the $222 million vehicle the sponsor closed in February with commitments from more than 350 investment partners. The fund, Thompson Thrift’s eighth multi-project equity partnership since 2008, was raised to finance seven Class A developments across five states: Georgia, Idaho, Nevada, South Carolina, and Tennessee. Those include the 273-unit Reno community that gave Thompson Thrift its first Nevada project in April, a 319-unit Powder Springs, Georgia, development announced in August, and The Whitmore at Ingleside, a 327-unit North Charleston, South Carolina, community announced in September that marked the developer’s first South Carolina project.

“The Highline reflects our continued commitment to thoughtful growth in markets with strong long-term fundamentals,” Josh Purvis, managing partner of Thompson Thrift Residential, said in a statement. “As we expand our presence in the Boise area, we remain focused on creating high-quality communities that serve residents and positively impact the surrounding neighborhood.”

The Highline will rise within East Ranch, a master-planned mixed-use development slated to include single-family homes and flex industrial space with integrated retail, less than 1 mile from Interstate 84. The community will offer one-, two-, and three-bedroom units averaging 1,100 square feet, with private entrances, quartz countertops, stainless-steel appliances, smart-home technology, and full-size washers and dryers, along with detached garages and patio, balcony, and private yard options. Planned amenities include a heated pool and lap pool, a 24-hour fitness center, a pickleball court, a pet spa, two dog parks, and a 24-hour social hub with billiards, shuffleboard, focus rooms, and conference space. Thompson Thrift expects first move-ins in early 2028.

Bo Chapman, senior vice president of development for Thompson Thrift Residential, said in a statement that Nampa is supported by “sustained population growth, expanding employment opportunities and strong regional connectivity,” and that The Highline’s East Ranch location positions it to “meet the continued demand we’re seeing across the Treasure Valley.” Thompson Thrift pointed to nearby employers including J.R. Simplot, St. Luke’s Nampa & Saltzer, Plexus, St. Alphonsus, and the College of Western Idaho, as well as Micron’s $50 billion Boise expansion, which Thompson Thrift said is expected to add about 2,000 direct jobs and 15,000 indirect jobs.

The Logan, a 264-unit Class A community and Thompson Thrift’s first Idaho development, welcomed its first residents in November 2025 and completed construction in June, the company said.

AltsWire has also reported on the developer’s March appointment of JR Plyler as chief investment officer.

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