Thompson Thrift to Develop New Luxury Multifamily Community Near Grand Rapids, Michigan￼
GRAND RAPIDS, Mich., Oct. 10, 2022 /PRNewswire/ — Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced today the acquisition of 29 acres of land in the Grand Rapids suburb of Wyoming. The company will develop a 344-unit Class A multifamily community on the land and plans to welcome new residents in late 2023.
“The Grand Rapids market continues to be in dire need of new multifamily development,” said Josh Purvis, managing partner for Thompson Thrift Residential. “The area had double-digit employment growth last year as well as 40% increases in home values that have priced many first-time buyers out of the market. Thompson Thrift is thrilled to be bringing another one of our distinctive Class A communities to help keep up with market demand while providing luxury living to Michigan’s residents.”
Located near the intersection of Wilson Ave SW and 64th St SW, just off Highway 6 and Interstate 196, The BLVD at Wilson Crossings will offer one-, two-, three- and four-bedroom townhome-style apartments, many with attached garages and private yards. Residents will enjoy spacious layouts and luxury finishes and that are on-trend with single-family homes including quartz countertops, tile backsplashes, stainless steel appliances, walk-in closets and full-sized washers and dryers. The community will feature resort-style amenities including a professionally decorated clubhouse, resort-style swimming pool, 24-hour fitness center, pickleball courts, green space, grilling stations, turf game lawn with a fire pit, a dog park and more.
The site is located minutes from downtown Grand Rapids and Wyoming and will provide residents with convenient access to a tremendous variety of shopping and dining choices, abundant parkland, golf courses, and lots of family-friendly attractions and events.
The BLVD at Wilson Crossings is Thompson Thrift’s second Grand Rapids-area community. The Grove, located on Killian Street in the northeast quadrant of Grand Rapids, is a 320-unit luxury apartment community that welcomed its first residents in the fall of 2021.
“The pace of initial lease up at The Grove demonstrates the appetite that residents have for stylishly appointed, highly amenitized apartment living,” said Purvis. “We expect that The Grove and The BLVD will be standout communities in the Grand Rapids market for a long time to come.”
In recent years, Grand Rapids has been named one of the top metros for Millennials as well as one of the best places to live in America. The market’s diverse economic base is led by healthcare, manufacturing and professional services with high-profile employers such as Spectrum Health, Meijer Corporate, Johnson Controls and Herman Miller nearby.
Thompson Thrift has made a name for itself by being one of the few developers to build Class A residential communities in markets across the country with a range of conventional, luxury leased villa and townhome-style communities. Throughout its history, the company has invested more than $4 billion and has become known as a trusted partner committed to developing high-quality, attractive communities. In 2021, the company earned the distinction of being named one of GlobeSt. Real Estate Forum’s Influencers of Multifamily Real Estate.