JPI EXPANDS PRESENCE IN URBAN MARKETS WITH JEFFERSON CENTRAL IN UPTOWN DALLAS
FOR IMMEDIATE RELEASE
Urban-style architecture with exclusive amenities and interiors will create a true live, work and play environment
IRVING, Texas (Dec. 15, 2019) – JPI announced today the close of construction financing on Jefferson Central, a Class A development located near the northeast corner of US-75/Central Expressway and Haskell Drive in the Uptown neighborhood of Dallas. This property will be JPI’s first community built in urban Uptown Dallas in over 10 years, expanding its distinction as the most active multifamily developer in Dallas-Fort Worth.
“It’s no surprise that Downtown Dallas is booming and Jefferson Central will be a true live, work and play environment due to its close proximity to both Uptown and the Central Business District,” said Miller Sylvan, senior vice president and regional development partner for JPI’s Central Region. “These neighborhoods are home to more than 190,000 jobs and millions of square feet of the hottest retail, dining and entertainment options in Dallas.”
Jefferson Central will consist of 430 apartment homes over a span of five acres. Scheduled to open in fall 2021, the community will feature urban-style architecture with above the market interior finishes and highest quality upgrades including hardwood look flooring, designer kitchen spaces with islands, minimum 10-foot ceilings in every unit, and more. Community amenities will include 1,675 sq. ft. of lounge space with views of Downtown Dallas, a cooking demonstration kitchen, pet park with grooming station, Uber lounge, resort-style pool, business center, state-of-the-art fitness center with spin and yoga studio, coffee bar, among others.
“Jefferson Central is located at the center of Dallas’ explosive growth and continues to strengthen JPI’s presence in this growing urban market,” said Payton Mayes, executive vice president and regional managing partner at JPI. “We will continue to be active throughout the Dallas-Fort Worth metroplex and have some new and exciting things to come in the future.”
For this project, JPI will retain partnerships with many of the top consultants within the multifamily industry including: WDG Architecture Dallas, United Structural Consultants, Jordan & Skala Engineers, Kimley-Horn and Associates, TBG Partners, Dement Designs, Scott Oldner Lighting Design, Intertek-PSI, Realpage, Inc., Skarkenzski Counsulting and Fource Communications. The senior lender for JeffersonCentral is BB&T now Truist and the preferred equity investor is Pacolet Milliken, LLC, a leading family-owned investment firm focused on direct investments in high quality real estate and energy/infrastructure projects throughout the U.S.
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 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, predevelopment, 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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