Toll Brothers has acquired yet another Atlanta builder. Thrive Residential has been acquired on the heels of the Toll Brothers acquisition of Sharp Residential almost a year ago. Thrive Residential builds urban in-fill homes in neighborhoods in both Atlanta and Nashville. Toll Brothers, Inc., a FORTUNE 500 company, is one of the nation’s leading builders of luxury new homes.
Founded in 2006 by Chris Rudd and Kirstin Hobday, Thrive Residential has built more than 1,000 mid- to high-end homes at price points from the high $300,000s to over $1 million. According to the Toll Brothers press release, they acquired certain homebuilding assets from Thrive, including approximately 680 lots owned or controlled throughout Atlanta and Nashville. The purchase is expected to add 10 selling communities by the end of fiscal year 2020.
Douglas C. Yearley, Jr., Toll Brothers’ chairman and CEO, stated, “Atlanta and Nashville are vibrant housing markets with favorable demographics and strong population growth. As we continue to execute on our strategy of broadening our range of geographies, product lines and price points, we are thrilled to have the Thrive team join the Toll Brothers family. Thrive, which brings a diverse product offering to urban in-fill locations, complements our recent acquisitions of Sabal Homes in South Carolina and Sharp Residential in Atlanta and enables us to continue the expansion of our operations in the dynamic Southeast.”
Chris Rudd, co-founder of Thrive, stated, “We are excited to join Toll Brothers’ luxury brand and financial resources. We look forward to working with the Toll Brothers team on expanding our in-fill platform in Nashville and Atlanta.”
Thrive aims to build homes that will offer its owners the opportunity to enjoy a live, work, play lifestyle. Many of Thrive’s projects are located along the BeltLine, one of Atlanta’s most popular places to live. Rudd, who was a guest on the Atlanta Real Estate Forum Radio podcast, said “We really focus on walkable and trendy neighborhoods near nightlife and work. Traffic is a daily obstacle for Atlanta and we strive to give buyers an opportunity to live in a location that they can easily live, work and play in.” Rudd also went on to say, “We want to be where the cool places are because it’s not just about a place to lay your head at night; it’s a lifestyle!” Listen to the full podcast with Chris Rudd by clicking here.
Currently, Thrive has four actively selling communities listed on its website – The Grove at Avondale, Ironside East Atlanta Village, The Residences at Studioplex and Emerson on Krog. Thrive also builds its signature series of homes on private lots for clients. In addition, Thrive has 15 available homes listed for sale on its website ranging in price from $499,900 to $1,055,900. For more information, visit buildwiththrive.com.