Thompson Thrift Hosts Groundbreaking for $225 Million Mixed-Use Development Near Phoenix

The Gilmore will bring a Safeway, boutique restaurants, retail, hotel and multifamily to Gilbert

PHOENIX, May 1, 2025 /PRNewswire/ -- Thompson Thrift, a full-service real estate company engaged in multifamily, mixed-use, industrial and commercial projects across the country, hosted a groundbreaking ceremony on April 30 for The Gilmore, a 35-acre mixed-use development in the Phoenix suburb of Gilbert.

"The Gilmore's groundbreaking is an exciting milestone that brings our vision one step closer to reality," said Ashlee Boyd, managing partner of Thompson Thrift Commercial. "With a thoughtful blend of residential, retail and public spaces, this development is designed to meet the evolving needs of the community while becoming a vibrant destination for the region."

During the event, visitors enjoyed project highlights, heard from Gilbert Mayor Scott Anderson and Thompson Thrift team members, and gathered to witness the ceremonial groundbreaking, followed by networking and refreshments with treats provided by future tenant Outcast Doughnuts.

"The Gilmore will be a shining example of the thoughtful, community-focused developments we welcome here in Gilbert," said Gilbert Mayor Scott Anderson. "We're proud to partner with Thompson Thrift on a project that not only brings high-quality housing and dynamic retail to our town, but also reflects the spirit of connection and innovation that makes Gilbert such a special place to live, work and grow."

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 and will provide approximately 200,000 square feet of grocery, restaurant and retail space, 300 luxury apartment homes, and a hotel. More than 25 leases have been signed so far, including 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, Nook Kitchen, Phantom Fox Brewery, Level 1 Arcade, Woof Gang Bakery and Over Easy.

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.

Thompson Thrift designed The Gilmore to be a vibrant destination that fosters a true sense of place. A Main Street-style entrance will welcome visitors and provide seamless integration of the retail, dining and 300 vertically integrated luxury apartment homes. Thoughtfully designed covered walkways, inviting common areas, murals by local artists and lushly landscaped outdoor gathering spaces have been crafted to inspire connection and community.

"At its core, The Gilmore is about connection—between people, places and purpose," said Andrew Call, Thompson Thrift's vice president of development for the Southwest region. "Whether you're launching a business, planting roots, or simply enjoying everything Gilbert has to offer, this will be a place where life comes together."

The company expects retailers to begin opening in the latter half of 2026 and the first resident move-ins to begin in early 2027.

Gilbert continues to rank as one of the most desirable places to live thanks in large part to the city's dedicated attention to nurturing local and regional businesses, fostering economic diversity and maintaining an attractive cost of living.

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, 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
[email protected]

SOURCE Thompson Thrift