JPI, the main multifamily developer in Dallas-Fort Worth in latest years, reveals no indicators of slowing in 2023.
The agency led the North Texas space in house unit building final yr with over 3,100 items, the Dallas Morning News reported. JPI was liable for greater than 5 % of all flats constructed throughout DFW final yr, and it has over 4,000 items in the pipeline this yr.
The developer shaped a $1 billion partnership with two traders — Lubbock-based Madera Residential and Dallas’ Waymaker Capital Partners — to assist fund its bold resi building tempo.
JPI has discovered a lot of its success growing in the suburbs north of Dallas, which has been one of many quickest rising areas in the nation since 2020. The agency has over 700 items deliberate for Mckinney and is spearheading improvement on the Jefferson Railhead, a $2.5 billion mixed-use undertaking in Frisco.
Smaller cities simply outdoors of the metroplex as properly are drawing the agency’s curiosity as properly. JPI is constructing a 185-unit senior house complicated in Anna, which is north of McKinney. Also in Anna, the corporate has a $59 million multifamily complicated set to complete by the top of 2024
While the housing market has cooled considerably in North Texas in comparison with final yr’s increase, the multifamily improvement business reveals few indicators of slowing. Dallas-Fort Worth leads the nation with over 65,000 house items authorised and deliberate for building.
—Erick Pirayesh
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