JPI purchased land in Lewisville that will be used for Jefferson Marketplace, a five-story apartment community that will include approximately 380 units.
Multifamily Dive reports retail center specialist Weitzman and grocery store chain Kroger owned the land where Jefferson Marketplace will sit. They contributed the land value as equity in the deal.
Jefferson Marketplace will include 7,700 square feet of ground-floor retail and live-work units that face a 1-acre park.
Besides the Lewisville project, JPI is slated to build Jefferson Eastchase, a 398-unit walkup community near Interstate I-80 and less than 30 minutes from Dallas Fort Worth International Airport. It is slated to be JPI’s fourth workforce project.
While Jefferson Eastchase may carry the attainable or workforce label, JPI says it obtains financing and goes through approvals and design in exactly the same manner that it would with a higher-end project.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.