Thompson Thrift to Develop 255-Unit Multifamily Community Near Denver
Thompson Thrift, a full-service national real estate company, announced that it will develop Stack at Wheat Ridge – a 255-unit Class A multifamily community in the Denver suburb of Wheat Ridge. Construction is expected to be completed in winter 2026.
Thompson Thrift 2024 Multifamily Development, LP will provide equity for this latest development. It closed in summer 2024 after successfully raising more than $250 million in equity commitments.
“Wheat Ridge stands out as the location provides convenient access to the city’s top employers and shopping venues, as well as numerous outdoor activities,” said Josh Purvis, managing partner for Thompson Thrift Residential. “Similarly, we believe that our latest Thompson Thrift community, Stack at Wheat Ridge, will deliver a unique blend of exceptional living for our residents and an attractive investment opportunity for our partners.”
Nestled in the foothills of the Rocky Mountains, Stack at Wheat Ridge will sit on just over seven acres at the corner of Kipling Street and 44th Avenue. The community will feature one-, two-, and three-bedroom configurations.
Each apartment’s amenities include elegant quartz countertops, stainless-steel appliances, glass-top ranges, hardwood-style flooring, granite vanity tops and undermount sinks, a walk-in shower, full-size washers and dryers, and multiple smart home capabilities. Select units may feature premium stainless-steel appliances and cabinetry with soft-close doors, closet systems with shelving, a dry bar and advanced smart home capabilities. Patio and balcony and detached garage options are also available.
Community amenities include a fully equipped 24-hour fitness center, a yoga and spin studio with on-demand fitness classes, a resort-style heated swimming pool, electric firepits with seating areas, a billiards area, a dog park and a pet spa with grooming station, just to name a few.
According to Thompson Thrift, the development has connectivity to Interstate 70, which provides easy access to Denver’s Central Business District. Denver Federal Center, home to approximately 28 different federal agencies; CoorsTek, a privately owned company focused on exploration technology; and Home Advisor, a digital marketplace leader are among the major employers in the area. Nearby retail centers, such as Kipling Ridge and Arvada Ridge Marketplace, offer residents access to shopping and dining options.
Wheat Ridge is located on the west side of the Denver metropolitan statistical area, providing access to the city of Denver and recreational activities in the Rocky Mountains. Denver’s west side is also home to many of the city’s most desirable neighborhoods, including Sloan’s Lake, which borders Wheat Ridge. Within five miles of Stack at Wheat Ridge, the average home value exceeds $552,000.
The company continues to expand its footprint with 11 new residential developments targeted for 2025. Stack at Wheat Ridge will be the company’s 20th Colorado location, further expanding Thompson Thrift’s presence in the area.
Earlier this month, Thompson Thrift announced that its Thompson Thrift 2025 Multifamily Development, LP will provide equity capital for Velara, a 312-unit Class A multifamily community in Ponte Vedra, Fla.’s Nocatee master-planned community. The 2025 fund launched in fall 2024 and seeks to raise $230 million in total capital commitments from accredited investment partners.
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. It has invested more than $6 billion into local communities.
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