JPI Adds Its Eleventh Community to Growing Irving/Las Colinas Area
With Close of Financing of Jefferson Innova, Dallas-Fort Worth’s Most Active Developer Forecasts Continued Strong Growth in this North Texas Submarket
IRVING, Texas (July 12, 2019) – JPI announced today the close of construction financing on Jefferson Innova, phase two of its Jefferson Promenade project currently under construction. Located in the heart of booming Las Colinas, Jefferson Innova has no shortage of attractions – from its close proximity to the Toyota Music Factory, with over 210,000 square feet of retail space and restaurants, to its powerhouse economy hosting seven Fortune 500 company’s headquarters. New residents are flocking to be a part of this vibrant and exciting area.
“Las Colinas is JPI’s most active submarket – this is the sixth community we’ve developed here in the past six years,” said Miller Sylvan, senior vice president and development partner for JPI’s Central Region. “The future is really bright for Irving. The dynamics and fundamentals of this area cannot be denied, and we look forward to continuing to play a part in this area’s growth.”
Jefferson Innova will consist of 433 apartment homes spanning five acres and is scheduled to open in spring of 2021. This community will feature an Uber lounge, a resort-style pool, a business center, a state-of-the-art fitness center with spin and yoga studios, a coffee bar, two outdoor kitchens and a rooftop pet park with a grooming station. Jefferson Innova will also offer its residents access to the Irving Convention Center DART station and close proximity to the Irving Convention Center and Elm Fork Trinity River.
“Las Colinas is a high-performing submarket for office space, entertainment and living,” said Blake Taylor, vice president and area development partner at JPI. “This is one of the central hubs for the Dallas-Fort Worth metroplex, and it exemplifies our focus on ensuring a live-work-play environment for our future residents. We’ll continue to be active in this area, which is our own backyard, for the foreseeable future.”
JPI is humbled to continue working with a group of A-list consultants within the multifamily industry. The architect for this project is Humphreys & Partners; Studio Outside is the landscape architect. Glenn Engineering Group is the civil engineer, United Structural Consultants is the structural engineer and Jordan & Skala Engineers is the MEP engineer. Interior design will be provided by Faulkner Design Group, and lighting design will come from Scott Oldner Lighting Design. The project’s construction lender is Texas Capital Bank, and the preferred equity investor is CrossHarbor Capital Partners.
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 5,000 apartment homes under construction. Headquartered in Irving, Texas, JPI also has an office in California. 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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