Development Continues in Mercer Crossing with Phase Two of Multifamily Development by JPI
DFW’s most active developer closes on Jefferson Mercer II, adding 416 homes to Farmers Branch live-work-play community
IRVING, Texas (August 20, 2018) – It’s no surprise that residents are flocking to Farmers Branch, one of the fastest-growing North Texas cities, to benefit from everything the growing suburb has to offer. JPI, the most active multifamily developer in DFW, also sees the momentum growing in Farmers Branch and has chosen it as the home for one of their newest communities, Jefferson Mercer.
Today, JPI has closed on phase two of Jefferson Mercer and plans to add 416 additional apartment homes to the original 424, 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,” said Matt Brendel, divisional president and managing partner at JPI. “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, located south of I-635 and west of I-35, provides an oasis where residents can escape the big city and enjoy natural surroundings. The community will sit proximate to a 30-acre lake and provide convenient access to two miles of trail systems and five acres of green space for residents to enjoy.
On the property, residents can utilize the outdoor fitness and CrossFit center 24 hours a day, as well as a gated dog park, swim-up pool bar and state-of-the-art indoor fitness center and yoga studio.
Individual homes at Jefferson Mercer II will feature urban-style architecture with upgraded interiors and extensive amenities such as:
- Urban 10-foot ceilings
- Balconies and patios with ground-floor private yards
- Separate glass-enclosed showers
- Washers and dryers included
Just southwest of Jefferson Mercer is Las Colinas, a 12,000-acre master-planned business and residential community home to 31,000 residents and over 100,000 employees. As one of the strongest economic submarkets in the nation, Las Colinas boasts more than 100 regional headquarters as well as six Fortune 500 global headquarters, including ExxonMobil, Celanese, Kimberly-Clark, Pioneer Natural Resources, Vistra Energy and Fluor Corporation.
The community is also located just three miles west of the major employment centers at I-635 and the Dallas North Tollway, including the 1.5-million-square-foot Lincoln Center, the 24-story Pinnacle Tower (formerly Oxy Tower) and the renowned Galleria office park. Access to this area has been greatly improved with the newly completed LBJ Express project. The recently expanded I-635 has added six sub-surface managed lanes, which are expected to be traveled by more than 360,000 cars daily.
Comerica Bank is the lender for the project, while CrossHarbor Capital Partners serves as equity partner.
JPI is a national developer, builder and investment manager of Class A multifamily assets across the U.S. and is the most active multifamily developer in Dallas-Fort Worth, with over 4,000 apartment homes under construction. Headquartered in Irving, Texas, JPI also has offices in California, Arizona and New York. With a 30-year history of successful developments throughout major U.S. 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 and mid- to high-density wrap and podium projects to 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 JPI.com.
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