Multifamily community is part of the redevelopment of the former St. Augustine Outlets

JACKSONVILLE, Fla., March 2, 2026 /PRNewswire/ — Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, recently hosted a ribbon cutting for Terrassa, a 324-unit Class A multifamily community that is part of the redevelopment of the former St. Augustine Outlets property located off I-95 in the growing market of St. Augustine. The first Terrassa residents began moving in in September 2025.

“We’re excited to celebrate the official opening of Terrassa and welcome residents to a thoughtfully designed community in one of Florida’s most sought-after coastal markets,” said Angie Atkins, senior vice president of community management for Thompson Thrift. “Terrassa complement’s the charm and character that define St. Augustine while delivering a modern, elevated living experience for residents.”

Terrassa’s  one-, two- and three-bedroom garden-style apartment homes offer up to nearly 1,400 square feet of living space and feature premium, in-demand amenities and finishes including granite countertops, stainless steel and energy-efficient appliances, a full-size washer and dryer, hardwood-style flooring, tile backsplashes, designer fixtures and finishes, large walk-in closets, detached garages, and private yard and patio options. High-speed internet access ensures seamless connectivity for residents while energy-efficient LED lighting and Alexa-compatible smart light switches, locks and thermostat help residents save on energy costs.  

Community amenities include a 24-hour fully equipped fitness center, a heated resort-style swimming pool, Mediterranean-inspired courtyards, community grilling areas, a pickleball court, an on-site dog park with agility equipment, and a pet spa with a grooming station. The 24-hour social hub features billiards, a coffee bar, private focus rooms and a work area with a printing station.

Located near Vilano Beach and just minutes from downtown, Terrassa provides the perfect balance of retreat and convenience, providing residents with convenient access to a variety of local entertainment, shopping and dining options, including Ford’s Garage Restaurant and the St. Augustine Premium Outlets.

At the ribbon-cutting, visitors toured the model home and explored the professionally decorated clubhouse and community amenities. As part of Thompson Thrift’s ongoing commitment to community engagement, they presented a check to local nonprofit S.A.F.E. Pet Rescue to support their efforts to rescue animals facing euthanasia. Additionally, Thompson Thrift waived the one-time pet adoption fee for any Terrassa resident who adopted a pet at the event from S.A.F.E.’s mobile adoption van.

“Supporting S.A.F.E. Pet Rescue and celebrating pet adoptions at Terrassa reflects our commitment to creating a welcoming community where both people and pets feel at home,” added Atkins.

Over the past 40 years, Thompson Thrift has invested more than $7.1 billion into local communities and has become known as a trusted partner engaged in all aspects of development, construction, leasing, and management of high-quality real estate projects across the country.

Equity for Terrassa was provided by Thompson Thrift 2024 Multifamily Development, LP.

About Thompson Thrift Real Estate Company
Since its founding in 1986, Thompson Thrift has grown from a locally focused development and construction company into a full-service, integrated enterprise with a national scope. From its offices in Indianapolis and Terre Haute, Indiana; Denver; Houston; and Phoenix the company is engaged in all aspects of development, construction, leasing and management of quality multifamily and commercial projects. 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.

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SOURCE Thompson Thrift