Irving-based developer JPI tops local apartment builder ranking
Irving-based builder JPI is at the top of the list of local apartment developers.
JPI had almost 1,900 Dallas-Fort Worth apartments under construction at the end of 2015, according to research by Axiometrics and MPF Research Inc.
The developer completed almost 800 North Texas apartments in 2015 and has another five project under construction in the D-FW area.
“The D-FW real estate market is extremely competitive, so securing the top ranking for most apartment homes under construction is a great milestone for JPI,” said Matt Brendel, JPI’s senior vice president and development partner. “We look forward to increasing momentum this year and are confident the quality of our community developments will continue to set us apart in the industry.”
JPI’s newest projects are the Jefferson Galatyn Park rental community in Richardson’s Telecom Corridor and the Jefferson on Lake Carolyn in Las Colinas.
The Richardson project has 379 units and is just south of the Galatyn Park DART station at the intersection of Galatyn Parkway and Performance Drive.
The Las Colinas apartment project has 422 units and at Lake Carolyn Parkway and California Crossing Road in the Las Colinas Urban Center.
Other new JPI developments are underway in Dallas, Frisco and Irving.
The developer now has 3,100 units under construction in Texas, California, Arizona, New York and Massachusetts.
Ranked by number of units being built at the start of 2016, MPF Research says the other top D-FW apartment builders are Trammell Crow Residential (1,674 units in five properties), Western Rim Development (1,598 units in four properties), Wood Partners (1,497 units in four properties) and Alliance Residential (1,346 units in four properties.)
Almost 40,000 apartments are being built in North Texas – the most such construction in almost 30 years.