Irving-based JPI has announced it is planning to add to a community in Farmers Branch, Jefferson Mercer.
JPI has closed on phase two of Jefferson Mercer and plans to add 416 additional apartment homes to the original 424, which began construction in January 2017.
“As the oldest settlement in Dallas County, Farmers Branch offers a unique live-work-play environment – something we know people are looking for,” said Matt Brendel, divisional president and managing partner at JPI. “This second phase will allow us to provide additional homes to the residents of Farmers Branch, a population that grows each and every day.”
Jefferson Mercer II, located south of I-635 and west of I-35, provides an oasis where residents can escape the big city and enjoy natural surroundings. The community will sit proximate to a 30-acre lake and provide convenient access to two miles of trail systems and five acres of green space for residents to enjoy.
On the property, residents can utilize the outdoor fitness and CrossFit center 24 hours a day, as well as a gated dog park, swim-up pool bar and state-of-the-art indoor fitness center and yoga studio.
Individual homes at Jefferson Mercer II will feature urban-style architecture with upgraded interiors and extensive amenities such as:
Urban 10-foot ceilings
Balconies and patios with ground-floor private yards
Separate glass-enclosed showers
Washers and dryers included
Just southwest of Jefferson Mercer is Las Colinas, a 12,000-acre master-planned business and residential community home to 31,000 residents and over 100,000 employees. As one of the strongest economic submarkets in the nation, Las Colinas boasts more than 100 regional headquarters as well as six Fortune 500 global headquarters, including ExxonMobil, Celanese, Kimberly-Clark, Pioneer Natural Resources, Vistra Energy and Fluor Corporation.
The community is also located just three miles west of the major employment centers at I-635 and the Dallas North Tollway, including the 1.5-million-square-foot Lincoln Center, the 24-story Pinnacle Tower (formerly Oxy Tower) and the renowned Galleria office park. Access to this area has been greatly improved with the newly completed LBJ Express project. The recently expanded I-635 has added six sub-surface managed lanes, which are expected to be traveled by more than 360,000 cars daily.
Comerica Bank is the lender for the project, while CrossHarbor Capital Partners serves as equity partner.