Thompson Thrift Residential to Develop Luxury Build-for-Rent Community South of Tampa

TAMPA, Fla., Dec. 14, 2021 /PRNewswire/ -- Thompson Thrift Residential, a wholly-owned affiliate of Indianapolis-based Thompson Thrift and one of the nation's leading multifamily developers, announced today the development of The Sophia, a 244-unit, luxury build-for-rent community in the city of Venice, located just south of Sarasota. Construction is expected to begin in later this month and complete in early 2024.

"Venice has been a popular choice for those looking to relocate from around the nation, and it is expected to keep growing at a rate well above the national average," said Eric Wojak, vice president of development, luxury leased homes. "The Sophia will offer residents the chance to live in a community based around style, luxury and convenience, with easy access to employers, retail options and a first-rate public school system. We are thrilled to bring one of our premier built-for-rent communities to the area."

Sitting on 29 acres, The Sophia will consist of 122 paired-villa structures, for a total of 244 homes, with 84 detached garages. Each home will consist of one-, two- or three-bedrooms with up to 1,525 square feet and will be complete with upgraded features including gourmet bar-kitchens with granite or quartz countertops, tile backsplashes, stainless steel appliances, 10-foot ceilings with designer light fixtures, walk-in closets, full-size washers and dryers and much more. Additionally, residents will enjoy many community amenities including a professionally decorated clubhouse, 24-hour fitness centers, resort style swimming pools with cabanas, community gardens, fitness trails and a bark park and doggie spa.

Conveniently located at the corner of Pinebrook Road and Curry Lane, and with immediate access to I-75, The Sophia will provide residents with a quick drive to many areas along Florida's western coast, including Venice Beach, Bradenton and Sarasota, the heart of the area's employment opportunities, including the brand new 365,000-square-foot Sarasota Memorial Hospital. Additionally, Amazon recently opened a new, 110,000-square-foot distribution center in the area.

Along with its accessibility to many of the area's top employers, many retailers are also nearby including the Tamiami Trail Corridor, home to a wide array of shopping, dining and entertainment options; and the Venice Village Shoppes, which features Target, The Home Depot, Staples and others. A Publix-anchored shopping center is also within walking distance.

A quiet and pristine beach town, Venice ranked as one of the top small towns for relocation, according to MoveBuddha, and offers residents the opportunity to work remotely while still enjoying a scenic, seaside location. Schools in the Venice area are also known as some of the best in the state. The assigned school for the property, which covers kindergarten through eighth grade, ranked #55 out of 2,191 public elementary schools and #40 out of 1,087 middle schools. 

The Sophia is the sixth Thompson Thrift Residential property located in Florida and the first in Venice. Thompson Thrift has made a name for itself by being one of the few developers to build Class A residential communities in markets across the country with a range of conventional, luxury leased villa and townhome-style communities. The company recently earned the distinction of being named one of GlobeSt. Real Estate Forum's Influencers of Multifamily Real Estate for 2021.  

About Thompson Thrift Real Estate Company

Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Houston and Phoenix. Three business units drive Thompson Thrift's success—Thompson Thrift Residential which is focused on upscale multifamily communities and luxury leased homes, Thompson Thrift Retail Group which is focused on ground-up commercial development, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail and commercial projects across the country. We are passionate about our customer's success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve. For more information, please visit www.thompsonthrift.com. 

Contact:                
Jennifer Franklin                                                                                                                                 
Spotlight Marketing Communications                                             
949.427.1385                                                                                      
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SOURCE Thompson Thrift