JPI has initiated construction on a new project, Jefferson Drove, in Haltom City, Texas. This four-story garden-style community will consist of 343 units and is estimated to cost $100 million. The apartments will be located at 6200 Baker Blvd with an average rent of $1,659. Out of the total units, 175 will be reserved for individuals earning up to 80% of the area’s median income level.
The company expects to complete this project within two years and it is reported by Dallas Business Journal that the development site has been vacant for approximately 25 years near Fort Worth and Richland Hills.
This would mark JPI’s third development in Haltom City as they have recently completed Parmore Fossil Creek (220 units) at NEC Loop820 and Beach Street as well as Jefferson Fossil Creek (386 units) at4600 Fossil Ridge Circle.
Apart from Dallas-Fort Worth area where JPI develops projects regularly; they also operate in California. Recently it was announced that JPI would develop apartments for a mixed-use development worth $3 billion in Frisco.
