JPI’s Metro Dallas Development Underway
- Aug 21, 2018
JPI has closed on phase two of Jefferson Mercer, which will add 416 homes to an already planned 424 homes in Farmers Branch, Texas, which began construction in January 2017.
“As the oldest settlement in Dallas County, Farmers Branch offers a unique live-work-play environment—something we know people are looking for,” Matt Brendel, JPI’s divisional president & managing partner, said. “This second phase will allow us to provide additional homes to the residents of Farmers Branch, a population that grows each and every day.”
Jefferson Mercer II will be next to a 30-acre lake and offer convenient access to five acres of green space and approximately two miles of trail systems. The new development will be situated south of I-635 and west of I-35.
Jefferson Mercer II’s units will feature urban-style architecture with 10-foot ceilings, separate glass-enclosed showers, balconies or patios with ground-floor private yards and washers and dryers.
The property will also boast a great deal for fitness buffs with a state-of-the-art indoor fitness center, an outdoor fitness and CrossFit center, and a yoga studio. Other amenities include a gated dog park and swim-up pool bar.
Big Interest in Texas
JPI has multiple projects underway in different areas of the Dallas metro, most of them slated for completion in 2019 or 2020. For example, in June, JPI broke ground on the second phase of development at its Jefferson West Love community in northwestern Dallas. It also has Jefferson Alpha West, a 409-unit development and Jefferson East Branch, both in Farmers Market, slated for completion in 2020.
Farmers Branch is considered one of the fastest-growing North Texas cities, which is why JPI has been so active in the area.
Las Colinas, a 12,000-acre master-planned business and residential home to 31,000 residents and more than 100,000 employees, sits just southwest of the property, making it an attractive place to live and work. The area offers more than 100 regional headquarters as well as six Fortune 500 global headquarters, including the likes of ExxonMobil, Celanese, Kimberly-Clark, Pioneer Natural Resources, Vistra Energy and Fluor Corporation.
The community is also close by the recently expanded I-635 and the Dallas North Tollway.
Comerica Bank served as the lender for the phase two of development and CrossHarbor Capital Partners comes aboard as equity partner.