Thompson Thrift to Develop Luxury Multifamily Community Outside Phoenix
January 10, 2023
Buckeye, AZ
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 Maddox, a 252-unit, Class A multifamily community in the Phoenix suburb of Buckeye. Thompson Thrift plans to begin construction this month and welcome new residents beginning in late 2024.
“There is significant job growth demand for multifamily housing throughout Phoenix’s West Valley,” said Josh Purvis, managing partner for Thompson Thrift Residential. “Buckeye’s population has exploded in recent years, with annualized growth of nearly 10% each year of the past decade. The Maddox will be a highly sought-after community in a market that hasn’t had a new Class A apartment community delivered in more than 10 years.”
Located at the intersection of W. Yuma Road and S. Waterson Road near Interstate 10, The Maddox will consist of seven, three-story garden style structures with 80 detached garages. The one-, two- and three-bedroom layouts will average nearly 1,000 square feet and feature luxury amenities including gourmet kitchens with elegant quartz countertops, timeless tile backsplash, stainless steel appliances, designer fixtures and finishes, Alexa-compatible smart hub to integrate all smart devices, smart thermostat and smart door locks, walk-in closets, full-size washers and dryers, as well as patio, balcony, and private yard options.
Luxury living will continue throughout the community with amenities such as a professionally decorated clubhouse, resort-style heated swimming pool, 24-hour fitness center, Amazon Package Hub, thoughtfully designed courtyards, grilling stations, outdoor game area, firepits with seating area, a dog park, pet spa with grooming station, pickleball court, and more.
The site is located on 10.6 acres within walking distance of Buckeye’s core retail corridor, including a Fry’s Signature grocery store, Walmart, Lowe’s and multiple dining options. Residents will have easy access to the 303 industrial corridor, downtown Phoenix and major employers like Luke Air Force Base, Amazon Distribution and Abrazo West Campus. Kore Power, Inc. has plans to build a new manufacturing facility a few miles from The Maddox, where it expects to employ 3,000 people.
Buckeye’s population increased by 106% over the past 11 years, earning it the top spot as the country’s fastest growing city with at least 50,000 residents last year. Job growth in Buckeye is projected to grow by nearly 50% over the next decade, which is higher than the U.S. projection of 34% over the same period.
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 Maddox will be Thompson Thrift’s fifth community in Arizona.
