JPI on Path to Become Largest Multifamily Developer in DFW
- Oct 01, 2015
Dallas—A national developer, builder and investment manager of Class A multifamily assets is adding two new communities to its list of active projects in the Dallas/Fort Worth market.
JPI launched construction on Jefferson Riverside and Jefferson Stonebriar, two new luxury multifamily communities. After breaking ground on both projects this summer, JPI is on its way to becoming one of the largest multifamily developers in the DFW market. With nearly 2,300 apartment homes currently in the works or recently completed, JPI anticipates this figure will grow to more than 3,000 apartment homes in the market by the end of the year. With more than 25 years of successful developments in major U.S. markets, JPI established itself at the top of the DFW market.
“DFW has a high demand for quality multifamily development, and we are pleased with the response to JPI’s product. Our luxury developments offer high-end interior and exterior finishes and top-tier amenities,” said Matt Brendel, JPI’s development partner. “It has been a tremendous year for JPI, and we plan to keep up the momentum through the end of 2015 and into 2016.”
The new projects will bring nearly 800 apartment homes to JPI’s portfolio in the DFW market. Jefferson Riverside, situated at the southwest corner of Northwest Highway and Riverside Drive in the Las Colinas Urban Center of Irving, Texas, will offer 371 apartment homes. Jefferson Stonebriar, located at the northeast corner of Gaylord Parkway and Ohio Drive in Frisco, Texas, will offer 424 apartment homes.
Both communities are scheduled to begin leasing in summer 2016 with completion slated for 2017.
Other notable JPI communities under construction or recently completed in DFW include:
- Jefferson Creekside – 444 apartment homes completed June 2014 in Allen, Texas.
- Jefferson Center – 360 apartment homes completed April 2015 in Richardson, Texas.
- Jefferson Las Colinas – 386 apartment homes, mid-rise community, in the Las Colinas area of Irving, Texas.
- South Side Flats by Jefferson – 290 apartment homes, mid-rise community, in the South Side neighborhood of Dallas.
The rapidly increasing development activity of JPI follows the company’s recent announcement of the opening of its new Austin office, which will target multifamily development in the Austin, San Antonio and Houston markets.
JPI has developed more than 300 projects totaling more than 90,000 units in 126 cities spanning 27 states and Canada.