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

PHOENIX, April 28, 2025 ~ Gilbert, Arizona - Thompson Thrift, a nationally recognized real estate company, has announced the start of construction for The Gilmore, a 35-acre mixed-use development in the Phoenix suburb of Gilbert. This project will feature 300 luxury apartment homes, a hotel, and approximately 200,000 square feet of grocery, boutique restaurant and retail space. The company anticipates that retailers will begin opening in the latter half of 2026 and the first residents will move in by early 2027.

According to Dan Sink, president and CFO of Thompson Thrift Development, this project is a testament to the company's One Team approach. By utilizing their expertise in construction, residential and commercial development, they aim to deliver a well-designed destination that will enhance the Gilbert community and provide long-term value for both residents and businesses.

Strategically located at the northwest corner of Val Vista Drive and Germann Road near Loop 202, The Gilmore is positioned in the heart of the Southeast Valley. So far, more than 25 leases have been signed for this development. These include popular names such as Safeway with a 64,000-square-foot store 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.

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Later this year Thompson Thrift will begin construction on the multifamily portion of The Gilmore. The Residences at The Gilmore will offer 300 studio to three-bedroom apartment homes with an average size of 1,000 square feet. According to Josh Purvis , managing partner for Thompson Thrift Residential , these apartments are designed to provide an upscale living experience for today's renters who value convenience , quality and connection . With premium amenities , modern interiors and direct access to shopping and dining , this community will offer a seamless blend of comfort and lifestyle.

The Gilmore has been thoughtfully designed by Thompson Thrift to create a sense of place. The development will feature a mix 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 and is approximately 18 miles from Scottsdale. The city's focus on nurturing local and regional businesses, attractive cost of living, economic diversity and highly ranked public school system have earned it the title of one of the best places to live in America as well as one of the best cities to start a business.

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Thompson Thrift remains actively involved in Arizona with several notable developments underway. These include 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. This highlights the company's commitment to investing in high-growth markets and delivering quality mixed-use, multifamily, retail and industrial spaces throughout the state.

With nearly 40 years of experience, Thompson Thrift is a full-service real estate development company that focuses on ground-up residential , commercial ,and mixed-use projects across the Midwest , Southeast ,and Southwest . They have invested over $6 billion into local communities and are known for their commitment to developing high-quality , attractive commercial and multifamily communities.

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