TDI Completes Construction of Jefferson Creekside Luxury Apartments
Residential Units are open and available
Irving, Texas (June 11, 2014) – TDI, a member of the JPI/TDI Group and leader in the development of Class A multi-family housing, has completed construction on Jefferson Creekside Apartments, the 444-unit luxury multi-family community located in the Allen market north of Dallas, Texas near the intersection of Custer Rd. and Highway 121.
“The Allen submarket has grown tremendously over the years,” said Matt Brendel, TDI Vice President and Area Partner. “This community offers high-end amenities in an ideal location. We are already more than 60 percent leased.”
Jefferson Creekside offers one, two or three bedroom floor plans ranging from 650 to more than 1,400 square feet. Units feature granite counter-tops, designer appliances, garages and full-size washers and dryers.
The community offers a 12,000 square feet amenities center including a resort-style pool with a tanning bed and cabanas, business center, conference room, Wi-Fi hotspots, an open air cinema, outdoor kitchen with lounge area and TV, coffee bar and a state-of-the-art fitness center. Jefferson Creekside also has direct access to a 40-mile hike and bike trail along West Rowlett Creek.
Jefferson Creekside provides convenient access to major employment centers in or around Legacy, Granite and Hall office parks. A wide assortment of retail, dining and entertainment venues are located within minutes of the property.
The construction loan was provided by Texas Capital Bank. Behringer Harvard Multifamily REIT I, Inc. is the mezzanine lender, and Catlyn Capital provided the equity.
TDI has completed 50 communities in the DFW area and has three additional projects currently under construction; Jefferson Center (Richardson), Jefferson Las Colinas and 1210 South Lamar. TDI offers investment management, predevelopment, underwriting, marketing, asset management, construction, financial and administrative services.
JPI/TDI (www.jpi.com) currently has 2,978 units under construction in Texas, New York and Arizona and has asset management responsibilities over 6,400 units nationwide. In addition, JPI/TDI has plans to develop an additional 1,300 units over the next 12 months that are in various stages of planning and predevelopment and is currently raising capital to complement their venture platforms in order to fund their expansion and business plan. 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/TDI, please visit www.jpi.com.
David Margulies/Katherine Quintero
The Margulies Communications Group