Press Release: JPI Announces Close of Financing and Start of Construction for Jefferson Mercer
IRVING, Texas (January 9, 2016) – JPI, a leader in the development of Class A multi-family housing, is proud to announce the close of financing for Jefferson Mercer, a 424-home luxury community located in Farmers Branch, TX. The community, expecting initial occupancy in the spring of 2018, will sit on a 30-acre lake and feature urban-style architecture with extensive amenities and upgraded interiors.
“Jefferson Mercer is poised to become one of our metroplex’s enduring communities,” said Matt Brendel, senior vice president and development partner at JPI. “The luxury property neighbors a newly built 30-acre lake, has over two miles of trails along an internal greenbelt, and sits conveniently between Las Colinas and the Galleria area of North Dallas.”
Just southwest of Jefferson Mercer is Las Colinas, a 12,000-acre master planned business and residential community home to 31,0000 residents and over 100,000 employees. One of the strongest economic submarkets in the nation, Las Colinas boasts more than 100 regional headquarters as well as five Fortune 500 global headquarters, including ExxonMobil, Celanese, Kimberly Clark, Commercial Metals and Fluor Corporation.
The community is also located just three miles west of the major employment centers at I-635 and the Dallas North Tollway, including the 1.5 million square foot Lincoln Center, the 24-story Pinnacle Tower (formerly Oxy Tower), and the renowned Galleria office park. Access to this area has been greatly improved with the newly completed LBJ express project. The recently expanded I-635 has added six sub-surface managed lanes, which are expected to be travelled by more than 360,000 cars daily.
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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