Category Archives: Upcoming Projects

Apartment builder JPI joins Dallas’ West Love development

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Apartment builder JPI plans to develop hundreds of rental units in the 35-acre West Love mixed-use project near Dallas’ Love Field.

By Steve Brown
Real Estate Editor

Published: 14 July 2016 10:35 AM
Updated: 14 July 2016 10:35 AM

One of North Texas’ top apartment builders will develop a rental community in the $200 million West Love development near Dallas’ Love Field.

Irving-based JPI plans to build hundreds of apartments in the project on Mockingbird Lane at Maple Avenue.

The first phase will include almost 370 units.

JPI hopes to start building the rental community in September, said senior vice president Matt Brendel.

Construction is already underway in the 35-acre West Love project on two hotels – Aloft and Element – that will total 244 rooms. The $49 million hotel project opens next year.

And developer KDC is seeking tenants for a 150,000 to 200,000-square-foot office building it plans to build next to the hotels and apartments.

A shopping center along Mockingbird rounds out the development.

“JPI is our partner on the multifamily component,” said Jorge Ramirez, partner of Highridge Partner, which put together the West Love project. “We have recently started utility construction in support of the apartments and expect to begin building construction in 30 to 45 days from now.”

Highridge Partners almost eight years ago bought and cleared the West Love development site located between the airport and Stemmons Freeway. They kept the property through the economic downtown are now developing the project.

JPI has more than 3,000 apartments under construction in Texas, California, Arizona, New York and Massachusetts.

In the Dallas area JPI is building in Las Colinas and Frisco.

READ MORE

JEFFERSON STADIUM PARK DEVELOPMENT APPROVED

Anaheim City Council votes unanimously on 17.6-acre master-planned community

Anaheim, CA (June 27, 2016) – JPI, a leader in the development of Class A multi-family housing, received unanimous approval from Anaheim’s Mayor and City Council for Jefferson Stadium Park, a 17.6-acre prime real estate site located in the prestigious Platinum Triangle in Anaheim, California – directly adjacent to Angel Stadium of Anaheim, on the southwest corner of State College Boulevard and Gene Autry Way.

A $364 million development, scheduled to break ground in December 2016, Jefferson Stadium Park is a 1079-unit luxury apartment community, which includes a 1.1-acre public park, and 14,600 sf of community-oriented retail space.

“Jefferson Stadium Park is representative of the ideals of Anaheim’s Platinum Triangle, embodying the highest level of architectural features centered around an environment that encourages community engagement and activation of key boulevards in the Triangle”, said Anaheim Mayor Tom Tait.

Residents of Jefferson Stadium Park will have access to Anaheim’s Regional Transportation Intermodal Center (ARTIC), as well as year-round entertainment, including Major League Baseball’s Los Angeles Angels of Anaheim, and the National Hockey League’s Anaheim Ducks. The development is just one mile away from the Downtown Disney Shopping District, Disneyland and California Adventure theme parks. Also nearby is the public marketplace of the Anaheim Packing District.

This is the second project for JPI in Anaheim’s Platinum Triangle. Currently under construction is the $120 million Jefferson Platinum Triangle, a 400-unit luxury apartment community located near the intersection of State College Blvd., and Katella Avenue, scheduled for occupancy in Fall of 2017.

“Jefferson Stadium Park represents an additional $364 million investment that JPI has committed to Anaheim”, said Heidi Mather, Senior Vice President and Development Partner. “Anaheim’s Platinum Triangle is a model for development efforts that encourage new projects, enhancing quality living experiences for the community. This new project only strengthens our commitment to be a part of the revitalization of this core area of Anaheim.”

JPI’s Western Regional Division is based in San Diego, and has developed 15 luxury apartment communities throughout California totaling over 5,800 units. Additionally, the western division just announced the closing of two development projects in Arizona: Jefferson Town Lake – a $57 million project which broke ground earlier this month; and Jefferson Chandler, a $50 million project anticipated to close in July, and scheduled to break ground later this summer.

“JPI’s foundation is its commitment to building world-class apartment homes that contribute to the fabric and economy of local communities”, said Todd Bowden, Managing Development Partner of JPI’s Western Region. “Southern California, in particular, is a key market focus for JPI. Our development work with the City of Anaheim has been an exceptional experience.”

Project Renderings:

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About JPI
JPI is a national developer, builder and investment manager of Class A multifamily assets in select US markets, headquartered in Texas, with offices in California, Arizona and New York. With a 30-year history of successful developments throughout major US markets and an unparalleled depth of industry-specific experience, JPI stands among the most active privately held real estate companies in the country. JPI’s executive leadership team has an average of 25 years of comprehensive experience in multifamily developments – ranging from low density garden apartments, mid to high density wrap and podium projects, student living housing projects and mixed-use high rise developments. The firm offers investment management, pre-development, underwriting, marketing and asset management services as well as construction, financial and administrative services. To learn more about JPI, please visit www.JPI.com.

JPI BEGINS PLANS TO CONSTRUCT SECOND PROJECT IN ANAHEIM

Closes on purchase of 17.6 acres adjacent to Anaheim Angel Stadium

Irving, Texas (January 22, 2016) –JPI, a leader in the development of Class A multi-family housing, has closed on the purchase of 17.6 acres of prime real estate located in the prestigious Platinum Triangle in Anaheim, California. JPI is working with the City of Anaheim to entitle a three-phase, 1079-unit, mixed-use luxury apartment community (Jefferson Stadium Park) directly across the street from Angel Stadium of Anaheim on the southwest corner of State College Boulevard and Gene Autry Way.

JPI is currently constructing Jefferson Platinum Triangle – a 400 unit luxury apartment community, scheduled to open next year, less than a mile from the proposed Jefferson Stadium Park.

“JPI values its partnerships with cities across the nation in developing housing communities that contribute to the fabric of local economies. The city of Anaheim’s Platinum Triangle is a prime example of government getting it right, in so many ways. JPI made a commitment to invest in the community several years ago,” said Heidi W. Mather, JPI Western Region Senior Vice President. “The Jefferson Stadium Park development only strengthens our commitment to become a partner in the revitalization of this core area of Anaheim.”

Residents of  the proposed Jefferson Stadium Park will have access to Anaheim’s Regional Transportation Intermodal Center (ARTIC), and Anaheim Rapid Connect (ARC) – a proposed streetcar system that would provide service over a 3.2 mile corridor (approximately 6.4 miles of track), connecting residents, workers, and visitors to ARTIC and other points of interest in Anaheim.

Jefferson Stadium Park, an approximate $364 million project, is scheduled to break ground at the end of 2016, with initial occupancy scheduled for 2018.

JPI’s proposed Jefferson Stadium Park includes a 1.1-acre public park, and resort-style amenities. “JPI has a long history of building living experiences that contribute to the quality of life for families throughout the country. Anaheim’s Platinum Triangle is creating new commerce and new employment hubs. Building luxury apartment homes within these new economies is a key focus for JPI”, said Mather.

Jefferson Platinum Triangle is centrally located within the City of Anaheim’s prestigious Platinum Triangle District – an 840-acre transit-oriented urban development, guided by the Platinum Triangle Master Land Use Plan which is bringing high-density, mixed-use, office, restaurant and residential projects to the heart of Orange County.

About JPI
JPI is a national developer, builder and investment manager of Class A multifamily assets in select US markets, headquartered in Texas, with offices in California, Arizona and New York. With a 30-year history of successful developments throughout major US markets and an unparalled depth of industry-specific experience, JPI stands among the most active privately held real estate companies in the country. JPI’s executive leadership team has an average of 25 years of comprehensive experience in multifamily developments – ranging from low density garden apartments, mid to high density wrap and podium projects, student living housing projects and mixed-use high rise developments. The firm offers investment management, pre-development, underwriting, marketing and asset management services as well as construction, financial and administrative services. To learn more about JPI, please visit www.JPI.com.

Construction could begin by year’s end on $364 million apartment complex near Angel Stadium

Construction is expected to begin by the end of the year on Jefferson Stadium Park, a $364 million complex with 1,079 apartment units, 9,800 square feet of commercial space and a 1.1-acre park across the street from Angel Stadium.

Construction is expected to begin by the end of the year on Jefferson Stadium Park, a $364 million complex with 1,079 apartment units, 9,800 square feet of commercial space and a 1.1-acre park across the street from Angel Stadium.

ANAHEIM – Construction could begin by the end of the year on a $364 million, mixed-use complex with 1,079 apartment units, 9,800 square feet of commercial space and a 1.1-acre park across the street from Angel Stadium.

If approved later this year by Anaheim’s Planning Commission, the project – known as Jefferson Stadium Park – would span 17.6 acres on the southwest corner of State College Boulevard and Gene Autry Way. The complex’s first of three phases would open in 2018.

“JPI made a commitment to invest in the community several years ago,” said Heidi Mather, a vice-president for developer JPI. “The Jefferson Stadium Park development only strengthens our commitment to become a partner in the revitalization of this core area of Anaheim.” Read More

JPI Completes Luxury Multi-Family Development in Fast Growing Richardson Market

Irving, Texas (date) – JPI, a leader in the development of Class A multi-family housing, has completed Jefferson Center, a 360-unit luxury multi-family community in the Richardson submarket north of Dallas, Texas near the intersection of President George Bush Turnpike and Custer Parkway.
“The Richardson submarket has been one of the fastest growing in terms of job growth and business expansion,” said Matt Brendel, JPI Development Partner. “Our apartment homes are available for lease as major corporate development is bringing thousands of new jobs to the area.”
Located at 955 West President George Bush Highway, Jefferson Center is developed on a 30-acre site near the University of Texas at Dallas and less than two miles from CityLine, the new mixed-use development under construction near the intersection of Central Expressway and President George Bush Turnpike that will be anchored by the offices of State Farm Insurance.
The community offers extensive amenities including a resort-style pool, grilling and cabana areas, a coffee bar, two clubrooms, beach volleyball courts, an event lawn with outdoor movie theater, a dog park, playgrounds, and two state-of-the-art fitness centers (one dedicated to yoga, CrossFit and Fitness on Demand). The apartment homes offer one, two or three bedroom floor plans ranging from 650 to more than 1,500 square feet. Units feature granite counter-tops, stylized hardwood flooring throughout the living areas, kitchens and baths, stainless steel appliances, garages, private yards and full-size washers and dryers.
“Jefferson Center is unique in the suburban Dallas multi-family market,” said Brad Taylor, JPI Managing Regional Partner. “The level of recreation opportunities and greenspace is unprecedented in the area, including 14.32 acres of greenspace on the 30-acre site (47.73 percent).”
Jefferson Center provides convenient access to major employment centers in or near Dallas via President George Bush Turnpike, Central Expressway, Dallas Parkway and the DART Red Line. A wide assortment of retail, dining and entertainment venues are located within minutes of the property.
Senior financing for construction of the property was provided by Texas Capital Bancshares, Inc., Behringer Harvard Multifamily REIT I, Inc. provided mezzanine financing, and Catlyn Capital Corporation provided equity.
About JPI
JPI currently has 2,290 units under construction in Texas, New York and Arizona and has asset management responsibilities over 6,400 units nationwide. JPI has plans to develop an additional 1,600 units over the next 12 months that are in various stages of planning and pre-development and is currently raising capital to complement their venture platforms in order to fund their expansion and business plan. The firm offers investment management, pre-development, underwriting, marketing and asset management services as well as construction, financial and administrative services.  To learn more about JPI, please visit www.jpi.com.

Media contacts:
David Margulies/Katherine Quintero
The Margulies Communications Group
(214) 368-0909  

Source: JPI

Platinum Triangle development plan reignited as 400-unit luxury apartment complex breaks ground near Angel Stadium

Jefferson Platinum TriangleANAHEIM – Construction begins Thursday on a 400-unit luxury apartment complex near Angel Stadium, the second project to mark a revival of Anaheim’s stalled Platinum Triangle residential and commercial development.

Known as Jefferson Platinum Triangle, the $119 million complex will feature club rooms, pools, outdoor kitchens, gyms, a media room, a wine bar and a dog park near Katella Avenue and State College Boulevard, according to developer JPI/TDI Companies.

Monthly rents will range from $1,815 for a 590-square-foot studio apartment up to $2,749 for a 1,377-square-foot, three-bedroom unit.

JPI/TDI Companies purchased the 7.6-acre plot of land for $24million from BEX Portfolio in December.

“The community will offer unparalleled amenities to its residents,” Heidi Mather, a senior vice-president for JPI, said in a written statement.

The 820-acre Platinum Triangle development plan was approved in 2004 to include a mix of shops, offices, eateries and condominiums. While some of those projects were built, the recession brought much of the ambitious plan to a halt….Read More

Developer JPI/TDI to Construct Jefferson Platinum Triangle in Anaheim

Closes on the Purchase of a 7.64 acre Development Site, Construction to begin January 2015

Irving, Texas (January 8, 2015) – The San Diego office of JPI/TDI Companies, a leader in the development of Class A multi-family housing, has closed on the purchase of 7.64 net acres of prime real estate located in the prestigious Platinum Triangle in Anaheim, California with plans to build a $119 million luxury residential development. The 400-unit residential community, Jefferson Platinum Triangle, will be located near the intersection of East Katella Ave. and South State College Blvd. Construction will begin in January 2015.

“We are excited to bring this highly amenitized community to the Platinum Triangle.” said Heidi W. Mather, JPI Western Region Senior Vice President. “The community will offer unparalleled amenities to its residents.” The property will include luxurious clubrooms, resort-style saltwater pools with spas, outdoor kitchens and seating areas, multiple grilling stations, fitness gyms, exercise / yoga studio, screening/media room, wine bar/lounge with refrigerated beverage storage, and a dog park. The property is located adjacent to a community park which has a jogging trail.

Jefferson Platinum Triangle’s capitalization includes preferred equity provided by Parse Capital and a construction loan provided by Fifth Third Bank. “The acquisition of Jefferson Platinum Triangle marks our second transaction with Parse Capital and our second construction loan with Fifth Third Bank,” said Gus Villalba, JPI Western Region Executive Vice President and Managing Partner. “The key to JPI’s long-term success has been our ability to source great development sites with strong multi-family demand fundamentals to generate great returns for our preferred capital partners. Our objective is to be recognized by our customers as the #1 residential company in the markets we serve. We look forward to growing our relationship with Parse Capital and Fifth Third Bank while executing on the development and construction of Jefferson Platinum Triangle.”

Jefferson Platinum Triangle is centrally located within the City of Anaheim’s prestigious Platinum Triangle District, an 840-acre transit-oriented urban development, guided by the Platinum Triangle Master Land Use Plan bringing high density, mixed-use, office, restaurant, and residential projects to the heart of Orange County.

Jefferson Platinum Triangle is located near the brand new $184 million ARTIC Amtrak Station and planned 6.4 mile long Anaheim Rapid Connection (“ARC”) guided streetcar system anticipated to be operational by 2018. ARC plans currently reflect a streetcar stop almost adjacent to Jefferson Platinum Triangle’s front door on Katella Avenue approximately 1.5 miles West of the ARTIC station and 1.5 miles East of the Disney Resort and Anaheim Convention Center.

About JPI/TDI

JPI is a national developer, builder and investment manager of Class A multifamily assets in select US markets headquartered in Texas with offices in Arizona, New York and California. With a 30-year history of successful developments throughout the major US markets and an unparalleled depth of industry specific experience, JPI stands among the most active privately held real estate companies in the country. JPI’s executive leadership team has an average of 25 years of comprehensive experience in multifamily developments ranging from low density garden apartments, mid to high density wrap and podium projects, student living housing projects and mixed use high rise developments. The firm offers investment management, pre-development, underwriting, marketing and asset management services as well as construction, financial and administrative services. To learn more about JPI/TDI, please visit www.jpi.com.

About Parse Capital

Parse Capital is a commercial real estate finance company focused on providing capital to developers and financial sponsors for the acquisition, recapitalization and development of multifamily apartment communities in well located, growth markets throughout the United States. Founded by real estate and capital markets professionals with significant expertise developing tailored financial solutions, Parse has a committed, long-term capital base to finance multifamily transactions behind all types of senior lenders, including GSEs, commercial banks, insurance companies and conduits. With offices located in Arizona and California, the firm is well positioned to pursue opportunities throughout the continental United States. To learn more about Parse Capital, please visit www.parsecap.com or contact Nick Killebrew at (858) 472-2720 or killebrew@parsecap.com.

Media contacts:

David Margulies/Katherine Quintero
The Margulies Communications Group
(214) 368-0909

Source: JPI/TDI

Developer TDI Building Las Colinas Luxury Apartments

Irving, Texas (October 14, 2013) – TDI Real Estate, a leader in the development of Class A multi-family housing, has begun construction on a 386-unit luxury multi-family community in Las Colinas, a submarket of Dallas, Texas. Jefferson Las Colinas is located near the intersection of Northwest Highway and Las Colinas Blvd.

“This is a high profile location and the ideal setting for this project,” said Matt Brendel, TDI Vice President and Area Partner. “These homes will have extraordinary access to highways as well as the DART light rail system that provides easy access to Plano, Richardson, Downtown Dallas and will reach D/FW airport by 2014.”

Jefferson Las Colinas apartment homes will offer one, two or three bedroom floor plans ranging from 572 to more than 1,400 square feet. Units will feature granite counter-tops, designer appliances, 10-foot ceilings and full-size washers and dryers.

The community will offer amenities including a resort-style pool, business center and conference room, Wi-Fi hotspots, coffee bar and a state-of-the-art fitness center.

“We are creating a true community here at Jefferson Las Colinas,” said Brad Taylor, Executive Vice President and Investment Partner for TDI. “Residents will have access to four serene landscaped courtyards as well as an active courtyard with a resort style pool. The interiors of the apartment homes will include large baths with separate showers and kitchen islands in select units.”

The construction loan was provided by Texas Capital Bank and PCCP, LLC was the mezzanine lender.

About TDI Real Estate

TDI currently has over 2,100 units under construction in Texas and Arizona and has asset management responsibilities over 4,800 units nationwide. In addition, TDI has plans to develop an additional 2,200 units over the next 12 months that are in various stages of planning and predevelopment and is currently raising capital to complement their venture platforms in order to fund their expansion and business plan. The firm offers investment management, pre-development, underwriting, marketing and asset management services as well as construction, financial and administrative services. www.jpi.com

Media contacts:
David Margulies/Katherine Quintero
The Margulies Communications Group
(214) 368-0909