Thompson Thrift, a full-service, nationally recognized real estate company and one of the nation’s leading multifamily developers, has announced that it will develop Velara, a 312-unit Class A multifamily community in Ponte Vedra’s Nocatee master-planned community. Construction begins this month, with the first residents expected to move in during summer 2026.
“Nocatee has been one of the country’s fastest-selling master-planned communities, and there is significant demand for luxury multifamily living options,” said Josh Purvis, managing partner for Thompson Thrift Residential. “We are excited that Velara will provide residents with a high-quality multifamily community that seamlessly integrates with the unique Nocatee lifestyle.”
Sitting on just over 12.5 acres along Burbank Avenue near Nocatee’s western interchange, the community will feature three-story buildings offering studio, one-, two- and three-bedroom configurations.
Thompson Thrift is known for curating amenities and finishes that are on par with for-sale homes, and Velara will offer gourmet kitchens with quartz countertops, stainless-steel appliances and glass-top ranges; hardwood-style flooring; quartz vanity tops and undermount sinks; full-size washers and dryers; multiple smart home capabilities and many other designer touches.
Additionally, select homes will be enhanced with cabinetry with soft-close doors, a deluxe closet system with shelving, walk-in showers with full tile surround and advanced smart home capabilities. Patio, balcony, private yard and detached garage options will also be available.
Thompson Thrift will include several resort-style amenities specifically catered to the Nocatee lifestyle, such as a covered pool-deck patio, a poolside sunken fire pit and private golf cart garages. Additionally, Velara will provide many more high-end features, including a fully equipped 24-hour fitness center, thoughtfully designed courtyards, a billiards area, an outdoor gaming area, a pickleball court, a dog park and a pet spa with a grooming station.
In addition to the on-site amenities, residents will also have access to the amenities of Nocatee, such as a kayak launch, two waterparks, a 75-acre community park, various fitness trails and Nocatee Town Center’s restaurants and stores, including the largest Publix in Northeast Florida.
The land purchase was brokered by Tyler Nilsson, senior managing director of investments and Erik Bjornson, senior managing director of investments with IPA.
Thompson Thrift is a full-service real estate development company focused on multifamily, ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. For nearly 40 years, 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 multifamily, commercial and industrial projects.
The company continues to expand its footprint with several new residential developments targeted for 2025 in key markets across the United States. Velara will be the company’s 18th multifamily development in Florida. Thompson Thrift 2025 Multifamily Development, LP will provide equity capital for the development.
