JPI bought more than 5 acres on the south side of Northwest Highway along the DART commuter rail line. The vacant tract is east of the Irving Convention Center and near where Irving is building its new convention hotel and the rail station.
The property JPI acquired was one of three tracts marketed by CSE Commercial Real Estate and Holliday Fenoglio Fowler. The tracts are among the last development sites in Las Colinas’ high-density Urban Center.
JPI has two new apartment developments on nearby properties. The Jefferson Lake Carolyn Apartments on Riverside Drive have 407 units; the Jefferson Riverside on Northwest Highway has 371 apartments.
JPI plans to build 387 more apartments in the Jefferson on Promenade project on the just-purchased Northwest Highway site. It has an option to buy the land next door for 375 more rental units.
Last year, JPI was the top apartment builder in North Texas, with over 3,100 units under construction.
Presented by the Dallas Morning News – March 24, 2017