JPI EXPANDING FARMERS BRANCH FOOTPRINT TO SERVE GROWING POPULATION NEEDS
Dallas-Fort Worth’s Most Active Developer, JPI, Closes on Jefferson Gallery House,
the Second Phase of their Currently Under Construction Jefferson East Branch
IRVING, Texas (August 15, 2019) – JPI is proud to announce the close of construction financing on its newest 353 home community, Jefferson Gallery House. The community is strategically located in Farmers Branch, one of the fastest-growing suburbs in the Dallas/Fort Worth metroplex, and will help meet a growing housing need facing this vibrant and expanding city.
“The North Dallas submarket offers residents a unique live-work-play environment,” said Miller Sylvan, senior vice president and area development partner for JPI’s Central Region. “This unique living environment, paired with the city’s strong job growth and substantial employment centers, makes for the perfect location for future JPI communities. We are very bullish on the Farmers Branch submarket, as Jefferson Gallery House will mark the start of JPI’s fourth community within the area.”
“Jefferson East Branch, which is currently under construction, is the first phase of our multi-phase community,” said Sylvan. “Upon completion, Jefferson Gallery House will bring the total homes to 750 between the two communities, and will ensure the residents of Farmers Branch will have the highest quality living accessible to them.”
Jefferson Gallery House will be less than two miles from well-known Addison Circle, which encompasses over a half million square feet of office space and 120,000 square feet of retail space. The area is anchored by Addison Circle Park, a 10-acre city escape that serves as a community park and event center for activities throughout the year. Jefferson Gallery House is also less than a mile from Galleria Dallas, one of the largest mixed-use retail facilities in North Texas. The mall consists of three levels of shopping and dining, covering over 43 acres.
Jefferson Gallery House is also less than one mile from Alpha + Inwood, a mixed-use project which includes the currently under construction Jefferson Alpha West, a 409-home JPI community. This mixed-use development will include 35,000 square feet of retail space, 205,000 square feet of office space, as well as a 135-room Aloft Hotel.
“We’re proud of the hard work that has gone into making Jefferson Gallery House a reality,” said Brad Taylor, chief executive officer at JPI. “This incredible design team has come together again to create an industry-leading, luxury apartment community we know future residents will be proud to call home.”
Jefferson Gallery House will feature urban-style community amenities and quality interior finishes. On the property, residents can utilize the state-of-the-art fitness center and yoga studio, resort-style pool, as well as a rooftop dog park including a large “off-leash” area with a multi-station indoor dog wash.
Each apartment home at Jefferson Gallery House will include unrivaled amenities such as:
• Stainless appliance package
• Quartz countertops
• Urban 10-foot ceilings
• Balconies & patios with ground-floor private yards
• Glass-enclosed showers
• Full sized washers and dryers in all units
WDG Architects lead the architectural design for both Jefferson East Branch and Jefferson Gallery House. Synovus Bank provided the construction loan for Jefferson Gallery House, while Clarion Partners has partnered with JPI to provide the equity.
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.