JPI on Path to Become Largest Multifamily Developer in DFW

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.

Riverside-SW-Rendering-2JPI 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.

67353_1413779680_jefferson-medium-2“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… 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

Anaheim developments revive city’s vision of a new downtown for O.C.

Jefferson Platinum TriangleAnaheim’s Platinum Triangle neighborhood is finally showing signs of life following a downturn that mothballed the city’s vision of a new downtown for Orange County.

In the latest example of growing developer interest in the area, a Texas developer plans to break ground Thursday on a 400-unit apartment complex along Katella Avenue near Angel Stadium. The $119-million luxury project will rise on a 7.6-acre vacant plot that the developer, JPI, purchased last month.

“It feels like a great time to be breaking ground in the Platinum Triangle,” said Gus Villalba, the western region executive vice president for JPI, based in Irving, Texas. “It’s just now starting to pick up momentum.”

In all, city plans allow for nearly 20,000 residential units and about 19 million square feet of commercial and office space in the Platinum Triangle, an 820-acre swath surrounding Angel Stadium, the Honda Center and the City National Grove of Anaheim. A street car has also been proposed that would connect the neighborhood with Disneyland and Anaheim GardenWalk.

The recession sidelined plans for a new downtown, but several projects are now underway. As of mid-December, there were 1,038 residential units under construction in the area, according to the city. And last month, Anaheim’s new, glistening $188-million transportation center and train station, known as ARTIC, opened… Read More