$325 million Grapevine project will include apartments and hotels
Irving builder JPI has landed a choice development deal in Grapevine.
JPI — which is already North Texas’ busiest apartment developer — will build a 371-unit rental community as part of 52-acre mixed-use project on State Highway 26 near Grapevine Mills Mall.
The development, called Silver Lake Crossings, will also include retail space and several hotels.
“This is a true mixed-use community,” said JPI senior vice president Matt Brendel. “Grapevine is appealing wherever you can get a site. There are not that many sites zoned for apartments.”
Brendel said that JPI has been working on the Grapevine deal for almost two years.
The three- and four-story $80 million Jefferson Silver Lake buildings were designed by architect JHP.
The $325 million Silver Lake Crossings project will include about 46,500 square feet of retail space and Courtyard by Marriott and Towneplace Suites hotels.
A 300-room, 9-story Renaissance Hotel has also been approved by the city for the development.
A 3-story office building is also in the works.
Lewisville-based NewcrestImage is building the hotels.
“This is a true mixed-use community with hotel, office, retail and residential,” Brendel said. “We intend to start our project by the end of this year.”
JPI is currently building in multiple North Texas locations, including Las Colinas and the Telecom Corridor.
Near Dallas’ Love Field, it’s building 370 apartments as part of the $200 million West Love mixed-use project.
And JPI is part of a development team working on a major office, retail, hotel and apartment development on Inwood Road near Galleria Dallas.
“We have more than $800 million in work in progress,” Brendel said, spread in markets from Southern California to Arizona to Texas.
By Steve Brown