Thompson Thrift to Develop Luxury Multifamily Community in Pensacola, Florida

 Thompson Thrift, a full-service nationally recognized real estate company and one of the nation's leading multifamily developers, announced today the development of The Quinn, a 324-unit Class A multifamily community in Pensacola. Thompson Thrift plans to begin construction this month and welcome new residents beginning in late 2024.

"Pensacola has had strong population growth over the past 10 years, and new multifamily construction hasn't kept pace with the demand," said Josh Purvis, managing partner for Thompson Thrift Residential. "We are excited to expand our Florida presence in this desirable market and provide area residents with a top-quality multifamily community that offers the style, convenience and amenities they've been waiting for."

Located near the intersection of W Nine Mile Road and Beulah Rd, The Quinn will consist of nine, three-story garden-style apartment buildings on 18 acres. The one-, two-, and three-bedroom apartment homes will average approximately 1,000 square feet and residents will be able to select from a variety of layouts with signature amenities, a balcony or ground-floor patio, private enclosed yards as well as 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 in all bedrooms and the living room, full-size washer and dryer, smart thermostat and an Alexa-compatible smart hub.

Community amenities at The Quinn will include a beautifully appointed clubhouse, a fully equipped fitness center with 24-hour access, a resort-style pool with community grilling areas, fire pits, cabanas, and turf area for outdoor exercise or yard games, pickleball courts, and a dog park with pet spa.

The property is less than one mile east of a newly constructed Publix Super Market and approximately two miles west of the 9 Mile and Interstate 10 interchange, which will provide residents with easy access to downtown Pensacola, and major employers such as Navy Federal Credit Union, Baptist Health Care Campus, Naval Air Station and Pensacola State College.

The area surrounding The Quinn boasts strong demographics with average household incomes of nearly $130,000 and for-sale homes selling for upwards of $800,000. More than 28,000 jobs and nearly 27,000 households were added to the Pensacola metro area during the past 10 years. With current market occupancy of 97.2%, Thompson Thrift believes there is strong, sustained demand for rental living options.

During the past 30 years Thompson Thrift has developed more than $4 billion of ground-up development projects across the Midwest, Southeast and Southwest. The company made a name for itself by being one of the few developers to build high-quality, attractive Class A residential communities with a variety of conventional, luxury leased villa and townhome-style communities. In 2021, the company earned the distinction of being named one of GlobeSt. Real Estate Forum's Influencers of Multifamily Real Estate.

The Quinn will be Thompson Thrift's 11th multifamily community in Florida. The company has properties extending from the panhandle south to Sarasota and Port St. Lucie.

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