Thompson Thrift to Develop 308-Unit Stella Luxury Apartment Community in Rapidly Growing Phoenix Submarket of San Tan Valley

PHOENIX, AZ – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced 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.

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