Thompson Thrift Sets the Stage for Terrassa: A New Standard in Luxury Multifamily Living in St. Augustine
In a significant move that underscores the vitality of Florida’s real estate market, Thompson Thrift has announced the development of Terrassa, a 324-unit Class A multifamily community in St. Augustine, St. Johns County. Construction is slated to begin in July of this year, with the community set to open its doors in fall 2026, marking another notable achievement in residential development.
The appeal of St. Johns County cannot be overstated—it’s a place where the robust local economy complements the high quality of life. “St. Johns County is one of the most desirable counties to live in Florida, and is renowned for its excellent schools, strong income levels, and impressive home values,” said Josh Purvis, managing partner for Thompson Thrift Residential. He notes that despite the increased hurdles in securing approval for new developments, Thompson Thrift’s proven track record and unwavering commitment to excellence have paved the way for the realization of Terrassa.
In line with their renowned standards, Terrassa will offer a variety of spacious one-, two-, and three-bedroom apartments, equipped with cutting-edge amenities, and will be part of the strategic redevelopment of the former St. Augustine Outlets site. The convenience of this locale is highlighted by its accessibility to stunning beaches, entertainment, shopping, and a plethora of dining experiences, ensuring residents a harmonious blend of convenience and luxury.
Terrassa’s array of high-caliber features includes smart home technology, top-of-the-range kitchens with stainless steel appliances, and deluxe touches in select homes such as accent-colored island cabinetry and premium quartz countertops. Reflecting Thompson Thrift’s dedication to creating not just homes, but lifestyles, the community will also host amenities like a 24-hour fitness center, resort-style swimming pool, social hub, and even a pet spa.
Recognizing the importance of authenticity and cultural connection, Thompson Thrift has infused the development with Mediterranean architectural elements, resonating with the legacy of St. Augustine, the nation’s oldest city with a rich Spanish history.
As we look to the future, Brian Timberman, president of Thompson Thrift Construction, encapsulates the enthusiasm for this project: “We are excited to break ground on another Thompson Thrift community, and our construction team looks forward to seeing this project through to on-time completion.” The establishment of Terrassa represents a forward-thinking investment in one of Florida’s most prosperous and fastest-growing counties—an embodiment of strategic planning, community engagement, and a testament to the booming appeal of the multifamily real estate sector in Florida.