JPI leads North Texas in multifamily dev

JPI, the leading multifamily developer in Dallas-Fort Worth in recent years, shows no signs of slowing in 2023.

The firm led the North Texas area in apartment unit construction last year with over 3,100 units, the Dallas Morning News reported. JPI was responsible for more than 5 percent of all apartments built across DFW last year, and it has over 4,000 units in the pipeline this year.

The developer formed a $1 billion partnership with two investors — Lubbock-based Madera Residential and Dallas’ Waymaker Capital Partners — to help fund its ambitious resi construction pace.

JPI has found much of its success developing in the suburbs north of Dallas, which has been one of the fastest growing areas in the country since 2020. The firm has over 700 units planned for Mckinney and is spearheading development on the Jefferson Railhead, a $2.5 billion mixed-use project in Frisco. 

Smaller cities just outside of the metroplex as well are drawing the firm’s interest as well. JPI is building a 185-unit senior apartment complex in Anna, which is north of McKinney. Also in Anna, the company has a $59 million multifamily complex set to finish by the end of 2024

While the housing market has cooled significantly in North Texas compared to last year’s boom, the multifamily development industry shows few signs of slowing. Dallas-Fort Worth leads the nation with over 65,000 apartment units approved and planned for construction.

—Erick Pirayesh