JPI and Pinnacle Partners Launch $200M Workforce Housing Fund
DALLAS, Texas and SEATTLE, Washington – December 18, 2025 – JPI, a leading developer and builder of Class A multifamily housing, and Pinnacle Partners, a real estate investment management firm, today launched a $200 million Workforce Housing Fund.
The fund intends to include four multifamily development projects located in Texas, California, and Washington which are proximate to thriving industries, high-quality job opportunities, and the growing demand for essential workforce housing.
The U.S. workforce and affordable housing sector is facing a historic shortage, presenting a significant opportunity for impactful investment. In high-growth markets where job creation and population expansion have surged, the lack of attainable housing has created significant demand.
“With JPI’s integrated development and construction platform and our capital raising expertise, we believe this fund will both meet crucial housing needs and produce strong returns for our investors,” said Jeff Feinstein, Managing Partner of Pinnacle Partners. “These projects should have an immediate impact in the communities where they are located.”
Having developed 117,000 homes across more than 25 states, JPI brings more than 35 years of commitment to providing high quality homes across the income spectrum. JPI seeks to transform building, enhance communities and improve lives, and recently JPI’s Chief Visionary Officer Scott Turner was nominated to serve as Secretary of Housing and Urban Development (HUD).
“JPI is committed to innovation and excellence in development—redefining what’s possible with sustainable practices and transformative building solutions that prioritize quality, affordability and impact,” said Mollie Fadule, Chief Financial and Investment Officer at JPI.
“With homeownership becoming increasingly out of reach, we’re proud to meet the growing demand for high-quality rental options that serve middle-income households and create lasting value in these markets” said JPI CEO, Payton Mayes.
The fund currently consists of the following developments:
In Oceanside, California, a 295-unit, 4-story garden-style community. Conveniently located near Downtown Oceanside and Camp Pendleton, this project addresses a critical need for quality workforce housing in Northern San Diego County.
In Redmond, Washington, a 224-unit, 8-story podium-style development located near the Microsoft Corporate Campus and the East Link Light Rail. This project provides easy access to high-tech employment hubs and helps meet the growing demand for workforce housing in the Seattle-Bellevue region.
In Denton, Texas, a 415-unit development designed to serve diverse income levels. This community brings high-end amenities and modern European architecture to one of Texas’ fastest-growing college towns.
In McKinney, Texas, a 393-unit development located in the rapidly growing northern suburb of Dallas. Featuring urban-style architecture and upgraded interiors, the project will cater to the area’s expanding population while addressing workforce housing needs.
“This fund consists of investments across some of the most dynamic markets in the country that show strong job growth and economic conditions,” said Leo Backer, Managing Partner of Pinnacle Partners. “These favorable conditions, combined with the significant demand due to an unprecedented housing shortage, offer strong investment opportunities.”
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JPI
JPI is a leading development and construction company with a mission to transform building, enhance communities, and improve lives. Since 1989, JPI has developed 384 communities across 143 cities, delivering over 117,000 homes with a total value of $26 billion. Guided by a commitment to excellence and innovation, JPI specializes in delivering Class A multifamily housing that exceeds expectations and fosters vibrant neighborhoods. JPI currently has 27 communities under construction, totaling 9,174 homes, and 11,204 additional homes in development valued at $3.6 billion. JPI continues to shape the future of community living while making a positive impact nationwide. For more information about JPI and its portfolio of projects, please visit JPI.com.
Pinnacle Partners
Pinnacle Partners is an SEC-Registered Investment Advisor (RIA) focused on tax advantaged private real estate investment opportunities. Specifically, through Qualified Opportunity Zones and workforce housing developments, in partnership with 50+ RIAs and hundreds of individual investors. The firm has capitalized over $1B in multifamily development projects including over 900 units of workforce housing. Pinnacle sources off-market opportunities with what they believe to be best-in-class development partners.
Past performance of JPI and Pinnacle and their affiliates is not indicative of future results of the fund. There can be no assurance that any of the fund’s objectives will be achieved. Further, there can be no assurance that cash distributions will, in fact, be made or, if made, whether those distributions will be made when or in the amount anticipated, or that certain tax benefits will be available to investors. The tax benefits to each investor in the fund will depend on the specific circumstances of such investor. An investment in the fund is speculative and will involve significant risks. A discussion of the risks associated with an investment in the fund can be found in the offering materials for the fund.
CONTACT:
Elliot Golan
Allison, on behalf of Pinnacle Partners and JPI
818-571-0540
elliot.golan@allisonworldwide.com
