JPI has completed the land acquisition for Jefferson Terry, a planned 393-unit multifamily community in McKinney. According to reporting referenced from the Dallas Business Journal, the $113 million development will rise on a 16-acre parcel at the southeast corner of U.S. Highway 380 and Terry Lane. The site positions the project along a key corridor, with enough acreage to accommodate multiple buildings, parking, and a robust amenity program as outlined by the developer.
The planned community will feature four garden-style apartment buildings offering a mix of studio, one-, two-, and three-bedroom layouts. Unit sizes are expected to range from approximately 650 square feet for smaller residences to about 1,600 square feet for larger floor plans. This range of configurations is designed to serve a variety of household types, from single renters to larger households seeking more space within a multifamily setting.
Affordability is a central element of the Jefferson Terry program, with nearly 200 apartments designated for income-qualified residents. Of the 393 planned units, 177 will be reserved for households earning up to 80% of the area median income, while another 20 units will be reserved for households earning up to 30% of the area median income. The balance of the residences will be leased at market rates, creating a mixed-income community structure within the single development.
Delivery of the project will be phased. The first apartments at Jefferson Terry are projected to be available to residents in 2027. Full build-out and completion of all planned units and amenities is anticipated in 2028, providing a defined multi-year development and lease-up timeline for the property once vertical construction begins and the site transitions from land to an operating multifamily asset.
The amenity package planned for Jefferson Terry is expected to include a resort-style swimming pool, a fitness center, coworking space, a clubhouse, green space, and a dog park. These features are intended to support both resident lifestyle needs and community-building within the property. A rendering provided with the announcement also depicts a potential pickleball court, signaling that active recreation spaces are part of the envisioned design program for the community.
By moving from land acquisition into the development phase, JPI is formalizing its plans for Jefferson Terry as a large-scale multifamily project in McKinney. The combination of market-rate apartments, income-restricted units tied to area median income thresholds, and a broad amenity slate underscores the scope and positioning of the 393-unit community as it progresses toward initial occupancy in 2027 and full completion in 2028.
