To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionJPI, Madera Residential and WayMaker form $1b JV in Dallas area
JPI has formed a joint venture with Madera Residential and WayMaker on five new developments across the Dallas–Fort Worth metroplex.
These five assets will provide more than 1,750 class A multifamily homes to residents and help serve the growing need for housing in the thriving DFW metroplex. When completed, the joint venture portfolio will include nine communities in total. The first five communities — Jefferson Railhead, Jefferson Grandscape, Jefferson Cedar Ridge, Jefferson Northlake and Jefferson Peninsula — are the first to start construction in an agreement between the parties. By the end of 2022, the parties expect to start another four communities together for a total of nine communities, representing more than 3,300 homes and valued at more than $1 billion.
These five communities, which are under construction and leasing up between now and 2025, are slated to provide best-in-class living experiences and top-of-market amenities throughout the portfolio. J
