JPI Secures Financing for 2 Luxury Texas Communities
- Jan 10, 2017
Dallas—JPI announced it’s secured the financing for Jefferson Mercer and Jefferson Creek, two luxury communities located in Farmers Branch and Richardson, Texas.
Sitting on a 30-acre lake, 424-unit Jefferson Mercer is located three miles from major employment centers at I-635 and the Dallas North Tollway. These include the 24-story Pinnacle Tower; 1.5 million-square-foot Lincoln Center; the Galleria office park and Las Colinas, a 12,000-acre master planned business and residential community which houses 31,000 residents and more than 100,000 employees. The property boasts more than 100 regional headquarters as well as five Fortune 500 global headquarters including Celanese, Commercial Metals, ExxonMobil, Kimberly Clark and Fluor Corp.
“Jefferson Mercer is poised to become one of our metroplex’s enduring communities,” said Matt Brendel, senior vice president & development partner at JPI. “The luxury property neighbors a newly built 30-acre lake, has over two miles of trails along an internal greenbelt and sits conveniently between Las Colinas and the Galleria area of North Dallas.”
The 420-unit community of Jefferson Creek offers immediate access to the Spring Creek Natural Area, a 58-acres park that includes 5 miles of bike and hiking trails; two DART light rail stations; major business parks such as Richardson’s Telecom Corridor, the Texas Instruments campus and CityLine development, which upon completion from its renovation will include 6 million square feet of office space; three parks; a 40,000-square-foot Whole Foods; two hotels; 300,000 square feet of grocery store, restaurants, entertainment and retail space and a 12-screen eat-in theater Look Cinema.
“Jefferson Creek offers residents a true ‘live, work and play’ environment,” added Brendel. “It’s only a stone’s throw from the new mixed-use CityLine development including a DART light rail station and the property also sits within beautiful city parkland that is very unique to the area.”
Both communities will include urban-style architecture, upgraded interiors and offer extensive amenities. Jefferson Mercer is expecting initial occupancy in the spring of 2018, while Jefferson Creek will be open for the summer of 2018.
Images courtesy of JPI