JPI Lands Financing for DFW Luxury Community
- Aug 23, 2021
JPI has received construction financing for Jefferson Fossil Creek, a 286-unit luxury community in Haltom City, Texas. The project will break ground next month, with delivery scheduled for early 2023.
The four-story project will be developed on 20 acres at 4600 Fossil Ridge Circle. Units will feature stainless steel appliances, walk-in closets and granite countertops. Planned amenities include a business center, a pool, an outdoor gym and a demonstration kitchen.
The development site is 9 miles north of downtown Fort Worth, Texas. The property will be near a number of retail options along North Beach Street as well as the 95-acre Buffalo Ridge Park.
The company’s portfolio includes 25 completed and under construction communities in Texas and Southern California, adding up to more than 5,000 apartments. Jefferson River East, a 400-unit community in Fort Worth, is also underway, according to the developer’s website.
The company is leveraging the increase in housing demand spurred by companies continuing to relocate in the Dallas metro, JPI Senior Vice President Blake Tyler said in prepared remarks.
JPI has also been busy in California. In January, the developer secured a loan for the construction of Jefferson Centerpointe, a 418-unit luxury community in Placentia, Calif. The property is scheduled to wrap up in early 2023.