A growing Dallas-Fort Worth luxury apartment developer — which told the Dallas Business Journal it planned on investing $300 million annually in new construction — has begun building its latest North Texas community.
Irving-based JPI Multifamily Partners LLC, which is one of the busiest apartment developers in North Texas, has begun work on a new four-story, 371-apartment community, called Jefferson Silverlake, at State Highway 26 and Bass Pro Drive in Grapevine.
The development tract is near Kubota Tractor’s new U.S. headquarters and two high-profile transportation-related projects: the DFW Connector expansion of highways 114 and 121, and the future TEX Rail Grapevine Main Street station.
The new community will also be located in the Grapevine-Colleyville ISD system, which is attractive to new residents, said Brad Taylor, JPI’s chief development officer and national managing partner.
“Add that to the proximity and easy commutes to work, and we predict great success for this submarket and development,” Taylor said in a prepared statement.
Grapevine also sits between Dallas and Fort Worth in close proximity to Dallas Fort Worth International Airport, and has shown tremendous growth in the last few years, added Matt Brendel, a senior vice president and development partner at JPI.
Jefferson Silverlake will include a curated backyard with a trail system and natural area surrounding a 6-acre lake. Other amenities include a concierge, fitness center with yoga studio, and custom cabinets with high-end finishes in the apartment homes.
The timeline for the project was not immediately available on Monday.
The Irving-based apartment developer has been growing rapidly as its home market has expanded with new jobs and residents, with plans to kick off additional construction projects this year.