JPI Announces Close of Financing and Start of Construction for Jefferson Woods

IRVING, Texas, March 28, 2017 /PRNewswire/ -- JPI, a leader in the development of Class A multi-family housing, today announced the close of financing for Jefferson Woods, a 456-home Class A luxury community located near the intersection of North Central Expressway and Glenville Drive 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 immediate access to Spring Creek Nature Area.

"Jefferson Woods will help meet the needs of the metroplex's most dynamic up-and-coming submarkets," said Matt Brendel, senior vice president and development partner at JPI. "With its unique location adjacent to the Spring Creek Nature Area and a block from the CityLine development as well as the extensive amenties and upgraded interiors, the community will attract any resident who desires a true live, work and play environment."

Additional features include:

• Convenient location near multiple major business parks such as Richardson's Telecom Corridor (100,000+ employees), the Texas Instruments campus (8,400 employees), and the CityLine development.
• A 40,000 square foot Whole Foods opened in the CityLine development in spring of 2016, and a 2-acre, 12-screen LOOK Cinema with seven eat-in theaters featuring Ivy Kitchen, will also be located in the development.
• When complete, CityLine will be anchored by State Farm Insurance and Raytheon Co., and will have a daytime population of 30,000 people.
• The residents of Jefferson Woods will have immediate access to the Spring Creek Nature Area, a 58-acre area that includes almost 5 miles of hike and bike trails and is one of the last stands of hardwood forests in the DFW Metroplex.
• The project will be between two DART Stations for both the Orange Line and Red Line, providing residents transportation across Dallas including to Uptown, Downtown and DFW Airport.

About JPI
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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SOURCE JPI