Thompson Thrift to Develop Luxury 276-Unit Multifamily Community in Florida’s Space Coast Community of Vero Beach
April 15, 2024
Vero Beach, FL
VERO BEACH, Fla. (April 15, 2024) – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced today the development of Verity, a 276-unit Class A multifamily community in Vero Beach. The company intends to begin construction this month, with completion expected in summer 2026.
“Despite significant demand for housing options in the Vero Beach community, supply has not kept pace in recent years,” said Josh Purvis, managing partner for Thompson Thrift Residential. “We are pleased to be able to move forward with providing a highly desired rental living option that fits the community’s needs.”
Located off 37th Street on 11th Circle, Verity will span more than 18 acres and consist of three-story buildings offering one-, two- and three-bedroom apartment homes with up to nearly 1,400 square feet.
Apartment homes will feature many of the high-end finishes and amenities that Thompson Thrift communities have become known to include—hardwood-style flooring; full-size washers and dryers; stainless-steel appliances and built-in microwaves; smooth, glass-top ranges; side-by-side refrigerators with ice and water dispensers; detached garages; tile backsplashes, designer fixtures and finishes; large walk-in closets; private yard and patio options and ceiling fans in the living room and all bedrooms.
Residents can also choose from an array of signature collection amenities including walk-in showers with full tile and glass doors, premium lighting, smart hub to integrate all smart devices, premium appliances, and dry bar in select homes.
One tailormade community feature is a custom-angled clubhouse with a covered pavilion that connects to the 24-hour fitness center and will include a coffee bar, a 24-hour social hub, work from home suites and a resident conference room with screenshare and video conferencing technology. Other community amenities will include a resort-style swimming pool, electric firepits with seating area, community grilling areas, pickleball court, a dog run with agility equipment and pet spa. Residents will also have access to high-speed internet access, an Amazon package hub, valet trash service, an onsite service team and a user-friendly mobile app for rent payment, submitting service requests, community feed, and more.
Verity residents will be a short drive to nearby beaches and coastal attractions, as well as downtown Vero Beach and Treasure Coast Plaza, a popular dual-anchor shopping center.
Located within one of the top demographic pockets of the market, the site is surrounded by home values and income levels that exceed market averages, while Vero Beach itself continues to boast high population growth, along with impressive job growth figures, increasing by more than 6% since 2020.
Approximately 70% of Vero Beach’s workforce, highlighted by nearly 6,000 medical service jobs, is located within five miles of the Verity site. The property sits directly across the street from the area’s largest employer – the Cleveland Clinic Indian River Hospital which is home to more than 1,500 jobs. Other major nearby employers include L3 Harris Technologies, a quickly growing aerospace manufacturing and research company, and the Indian River County school district, which supports more than 17,000 students across 27 schools.
