JPI GROWS SOUTHERN CALIFORNIA PRESENCE WITH JEFFERSON LA MESA
FOR IMMEDIATE RELEASE
Garden-style community will blend live-work, low-income, and market rate apartment homes
IRVING, Texas (Jan. 07, 2020) – JPI announced today the close of construction financing on Jefferson La Mesa, a four-story luxury multi-family development located at the intersection of Baltimore Drive and University Avenue in the heart of downtown La Mesa, Calif. Within walking distance to the La Mesa Boulevard Trolley Station and La Mesa’s revitalized downtown district, this new community will provide easy access to the most highly-sought after entertainment, dining and job centers throughout San Diego.
“Jefferson La Mesa is a joint venture with the Kitzman family, who are the long-standing owners of the site,” said David Potter, vice president and area development partner for JPI’s Western Region. “Together, we worked hand-in-hand with the local community and elected officials to envision a property that does not just provide homes but also contributes to the vitality and connectivity of the La Mesa community.”
Jefferson La Mesa will consist of 230 apartment homes over a span of nearly five acres. Scheduled to open in late summer 2021, the four-story garden-style community will feature approximately 205,000 net rentable sq. ft. including studio, one-, two- and limited three-bedroom units. Apartment homes will feature sleek and contemporary finishes, designer kitchens with islands, SMART home technology and more. Community amenities will include a two-level fitness center with yoga room and cycling studio, co-working space, resort-style pool with cabanas, high-tech resident lounge, pet park with grooming station, outdoor fire pit, and other design features.
“San Diego is at the heart of Southern California’s explosive growth and is forecasted to outperform the U.S. in new jobs in the next few years,” said Rosie Cooper, executive vice president and regional managing partner for JPI’s Western Region. “JPI is focused on providing the best housing options for this market and we look forward to continuing to grow our Western Region.”
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, 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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