Thompson Thrift Breaks Ground on 35-Acre Mixed-Use Development Near Phoenix

The $225 million development will bring a Safeway, boutique restaurants, retail, hotel and multifamily to Gilbert

PHOENIX, April 28, 2025 /PRNewswire/ -- Thompson Thrift, a full-service nationally recognized real estate company, announced today the commencement of construction for The Gilmore, a 35-acre mixed-use development in the Phoenix suburb of Gilbert. The Gilmore will provide 300 luxury apartment homes, a hotel, and approximately 200,000 square feet of grocery, boutique restaurant and retail space. The company expects retailers to begin opening in the latter half of 2026 and first resident move-ins to begin in early 2027.

"This project is a testament to the strength of Thompson Thrift's One Team approach," said Dan Sink, president and CFO of Thompson Thrift Development. "By leveraging our expertise across construction, residential and commercial development, we plan to deliver a thoughtfully designed destination that enhances the Gilbert community and provides long-term value for residents and businesses alike."

Located at the northwest corner of Val Vista Drive and Germann Road, just off Loop 202, The Gilmore is strategically positioned in the heart of the Southeast Valley. More than 25 leases have been signed so far and include a 64,000-square-foot Safeway, as well as Better Buzz Coffee, Handel's Ice Cream, Jersey Mike's, Sweathouz, Rebel Wine Lounge, Square 1 Food Hall, Honey Go Nails, Level 1 Arcade, Outcast Doughnuts, Nook Kitchen, EDO Japan, Over Easy and Phantom Fox Brewery.

Later this year Thompson Thrift will begin construction on the vertically integrated multifamily portion of the development. The Residences at The Gilmore will consist of 300 studio, one-, two- and three-bedroom apartment homes in a variety of layouts averaging 1,000 square feet of living space.

"The Residences at The Gilmore will offer an upscale living experience designed for today's renters who want convenience, quality and connection," said Josh Purvis, managing partner for Thompson Thrift Residential. "With premium amenities, modern interiors and direct access to shopping and dining, this community will provide a seamless blend of comfort and lifestyle."

Thompson Thrift has designed The Gilmore to provide a sense of place and will feature a blending of retail, restaurants and residential uses with a Main Street-style entrance, beautiful landscaping, covered walkways, common area seating, local artist murals and multiple outdoor gathering spaces.

Gilbert is located southeast of Phoenix in Maricopa County, about 18 miles from Scottsdale. The city's dedicated attention to nurturing local and regional businesses, attractive cost of living, economic diversity and a highly ranked public school system helped it earn the title as one of the best places to live in America as well as one of the best cities to start a business.

Thompson Thrift remains highly active across Arizona with several notable developments underway. Key projects like Elliot Tech Center in Mesa, Germann Commerce Center in Queen Creek, Pointe17 and Refinery at Pointe17 in Phoenix, The Maddox in Buckeye, Stella in San Tan Valley, and South Bridge Marketplace in Maricopa highlight the company's continued investment in high-growth markets and its focus on delivering quality mixed-use, multifamily, retail and industrial spaces throughout the state.

Thompson Thrift is a full-service real estate development company focused on ground-up residential, commercial and mixed-use development across the Midwest, Southeast, and Southwest. Since its founding nearly 40 years ago, Thompson Thrift has invested more than $6 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive commercial and multifamily communities.

About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Denver; Houston; and Phoenix. Three business units drive Thompson Thrift's success—Thompson Thrift Residential, which is focused on upscale Class A multifamily communities; Thompson Thrift Commercial, which is focused on ground-up commercial and industrial development; and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of development, construction, leasing and management of quality commercial real estate projects across the country. The company earned national recognition as a winner of a 2025 Top Workplaces USA award, the latest accolade that reflects the company's ongoing commitment to excellence in the community and workplace. For more information, please visit www.thompsonthrift.com.

Contact:
Jennifer Franklin 
Spotlight Marketing Communications
949.427.1385
jennifer@spotlightmarcom.com

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SOURCE Thompson Thrift