JPI Announces Land Closing for Prime Development in San Diego
This new community will bring needed housing to Sorrento Valley, California in 2028
SAN DIEGO, Calif. – January 27, 2025 – JPI, the nation’s premier developer of multifamily communities, is proud to announce the acquisition of 9444 Waples Street, a 3.65-acre site located in the heart of Sorrento Valley, in partnership with Liberty Bankers. This milestone marks the future development of an apartment community with rooftop amenities, offering panoramic views of Penasquitos Valley and one of the most dynamic employment hubs in the region.
Prime Location in San Diego’s Largest Employment Center
Sorrento Valley is the #1 employment hub in San Diego County, boasting over 170,000 jobs across leading industries such as biotechnology, engineering, and technology. The area is home to globally recognized companies, including Qualcomm, Dexcom, Beckett Dickinson, Google, and Sony. As the 3rd largest biotech hub in the United States, behind Boston and the Bay Area, Sorrento Valley continues to attract top-tier talent and investment.
“9444 Waples Street provides JPI with a groundbreaking opportunity to introduce the first institutional apartment development in this high-demand market,” said Seth Dorros, SVP Land Acquisition, JPI. “This development reflects our commitment to enhancing communities and improving lives while meeting the needs of a thriving workforce in one of the most competitive real estate markets in the nation.”
“I’m thrilled to see this opportunity successfully closed as a result of the hard work of the team and our collaboration with Alexandria. It’s been a great experience, and I’m excited to see this underutilized office space transformed into much-needed housing that will benefit the community.” said Nick Toffoli, Land Acquisition, JPI
Exceptional Connectivity and Proximity
Strategically located, 9444 Waples Street offers unparalleled access to nearby landmarks such as UC San Diego, La Jolla, and Del Mar, and is within a 30-minute drive to both the U.S.-Mexico Border and North County San Diego, including Camp Pendleton. The site also benefits from its proximity to life science and tech campuses, cementing its position as a highly desirable residential address for professionals.
Community Features
This upcoming development will feature apartment homes designed with functionality and luxury in mind. The project will feature an exceptional amenity package, including two luxurious pools, a stunning sky deck, spacious co-working areas, and much more, all designed to elevate the living experience.
Economic Impact
Sorrento Valley boasts an average income of nearly $120,000 per year, reflecting the region’s economic vitality. JPI’s development is set to further enhance the community, offering much-needed housing options for its burgeoning workforce and driving positive growth within the area.
About JPI
JPI is a leading developer dedicated to transforming building, enhancing communities, and improving lives. With a commitment to excellence and innovation, JPI delivers Class A multifamily housing that exceeds expectations and fosters vibrant neighborhoods. By focusing on sustainable development and strategic partnerships, JPI continues to shape the future of community living while positively impacting communities nationwide. For more information about JPI and its portfolio of projects, please visit JPI.com.
###
CONTACT:
Madison Berube, JPI
+1 864 590 5923