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JPI bought land for a new 700-unit multifamily development at 14175 Dallas Parkway in the Galleria area of Farmers Branch. The new development, Jefferson East Branch, is JPI’s third multifamily asset in the area. It will be joining Jefferson Landmark and Jefferson Boardwalk in the area.
“Our data and research, along with our longstanding tradition of keeping our ears to the ground, convinced us a few years ago that Farmers Branch was certain to offer us a prime area to invest,” JPI Senior Vice President and Development Partner Matt Brendel said in a statement.
Jefferson East Branch will encompass 644K SF and will be built in two phases. Phase 1 will begin in late 2018 and will include 390 units taking up 339K SF. The second phase will deliver 351 units encompassing 305K SF. Phase 2 is slated to begin in 2020 around the same time Phase 1 ends. First occupancy is expected in summer 2020.
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