JPI has reportedly filed plans for a $92 million development project with the Texas Department of Licensing and Regulation.
The project, dubbed “Primrose Hybrid South,” is set to go up along Brewer Boulevard in south Fort Worth. At full build-out, the development will total over 529,000 square feet. The owner on the filing was listed as “JPI Companies,” and the owner’s address matches that of JPI’s Irving offices.
Based on its volume of local units in development, JPI is the most active multifamily developer in North Texas, according to the Dallas Business Journal. The company’s latest filing includes plans for multifamily buildings, single-family homes, duplex homes and an amenity center with an outdoor pool and courtyard. The filing also included a target completion date in 2025 and is expected to break ground early next year.
The planned community is in a fairly under-developed area in the southwest corner of the Dallas-Fort Worth metroplex. Primrose Hybrid South will be a neighbor to Tri Pointe Homes’ Chisholm Trail mixed-use development.
The Irving-based firm delivered over 2,000 multifamily units last year and currently has over 5,800 units currently in development. Last month, it announced plans to build a $59 million multifamily complex in the small suburb of Anna near Dallas. The month before, it formed a $1 billion partnership with two multifamily investors — Lubbock-based Madera Residential and Dallas’ Waymaker Capital Partners.
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— Maddy Sperling