Financing to Spur Development of 387 Units

Multifamily developer JPI closed on financing for its Jefferson Promenade project. The financing has cleared the way for the 387-unit apartment complex to be built at Promenade and Lake Carolyn Parkways in Irving, TX’s Las Colinas submarket.

Once completed, Jefferson Promenade will be situated near the Verizon corporate campus development, the 1,000-acre Cypress Water development, as well as the Toyota Music Factory. The apartment complex will also offer two-story mezzanine/loft units, private patios and ground-floor private yards, on-site fitness center and yoga facility, and direct access to Dallas Area Rapid Transit’s light rail, through the Irving Convention Center.

“Las Colinas continues to outperform the rest of the Dallas Metro market,” said Brad Taylor with JPI. “Jefferson Promenade is the next in line of what will be an exciting submarket to watch for years to come.”

For comments, questions or concerns, please contact Texas Commercial Real Estate Editor Amy Sorter