Press Release: JPI Announces Groundbreaking of Two New Dallas-Fort Worth Communities
IRVING, Texas (October 5, 2016) – JPI, a leader in the development of Class A multi-family housing, announces the groundbreaking of Jefferson West Love, a new 368-home luxury apartment development located in the Medical District in Dallas, TX. JPI is also proud to announce the groundbreaking of Jefferson Landmark, a new 324-home luxury apartment development located just northwest of I-635 and the Dallas North Tollway in Farmers Branch, TX. Both communities will feature urban-style architecture with extensive amenities and quality upgraded interiors.
JPI expects initial occupancy of its’ West Love community in early 2018 with completion in summer 2018. Designed by GFF Architecture, the community will be part of a $200 million mixed-use development that when completed will include approximately 200,000 sf of office space, 65,000 sf of retail and restaurant space, as well as a 244-room combination Aloft and Element hotel.
“Based on our market intelligence we are confident that Jefferson West Love and Jefferson Landmark have the potential to be some of the DFW area’s most successful and longstanding communities,” said Matt Brendel, senior vice president and development partner at JPI. “With Jefferson West Love’s close proximity to the medical district and Dallas Love Field Airport as well as Jefferson Landmark’s close proximity to Addison Circle and the Galleria Office Towers, both of these neighborhoods are poised for long term growth.”
Jefferson Landmark is located at the nexus of the LBJ Freeway and North Dallas Tollway, one of the most highly traveled interchanges in the DFW metro, which serves as a gateway to North Dallas. The new community will include a resort-style pool, community courtyards, a state-of-the-art fitness center and yoga studio as well as a coffee bar for residents. JPI expects initial occupancy of its’ Jefferson Landmark community in spring of 2018.
JPI’s Jefferson West Love community is located one block away from Dallas Love Field Airport. The airport, which was ranked by J.D. Power and Associates as the top performing airport in its class, brings in over $2 billion annually for the local Dallas economy. Additionally, Southwest Airlines is undergoing a $100 million expansion to its corporate headquarters that is expected to bring 1,000 employees to the area once completed.
Also near Jefferson West Love is Parkland Hospital’s new $1.27 billion project, the largest hospital project in the country, which is expected to create between 2,000 and 3,000 new jobs. Additionally, the nearby Stemmons Corridor is already home to more than 5,000 businesses with over 170,000 employees encompassing nearly 10% of Dallas County employment.
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 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 www.JPI.com.