Press Release: JPI Announces Close of Financing and Start of Construction for Jefferson Creek
IRVING, Texas (January 9, 2016) – JPI, a leader in the development of Class A multi-family housing, today announced the close of financing for Jefferson Creek, a 420-home Class A luxury community located in Richardson, TX. The community, expected to be begin initial occupancy in the summer of 2018, will feature urban-style architecture with extensive amenities and state of the art interiors.
“Jefferson Creek offers residents a true ‘live, work and play’ environment,” said Matt Brendel, senior vice president and development partner at JPI. “It’s only a stone’s throw from the new mixed use CityLine develoment including a DART light rail station, and the property also sits within beautiful city parkland that is very unique to the area.”
The residents of Jefferson Routh Creek will have immediate access to the Spring Creek Natural Area, a 58-acre park that includes almost 5 miles of hike and bike trails. The project will be between two DART light rail stations for both the Orange Line and the Red Line, providing residents transportation across Dallas including Uptown, downtown, and DFW airport.
The community will be located near multiple major business parks such as Richardson’s Telecom Corridor, the Texas Instruments campus, and the currently under construction CityLine Development, which together house more than 130,000 employees.
CityLine is anchored by State Farm Insurance and Raytheon Co. and will have a daytime population of 30,000 people. The mixed-use project will create 17,000 direct and indirect jobs. Upon completion, it will feature 6 million square feet of office space, two hotels, three parks, and 300,000 square-feet of grocery store, restaurants, entertainment and retail space. A 40,000-square foot Whole Foods opened in the CityLine development in Spring 2016 along with a 12 screen eat-in theater Look Cinema.
JPI is a national developer, builder and investment manager of Class A multifamily assets in select US markets, headquartered in Texas, with offices in California, Arizona and New York. With a 30-year history of successful developments throughout major US 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, mid to high-density wrap and podium projects, student living housing projects and mixed-use high raise 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 www.JPI.com.
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