JPI has announced a joint venture with Madera Residential and WayMaker on five new developments across the Dallas-Fort Worth area that will include over 1,750 Class A multifamily homes. The first five communities, Jefferson Railhead, Jefferson Grandscape, Jefferson Cedar Ridge, Jefferson Northlake, and Jefferson Peninsula, are under construction.
“We are grateful for the confidence and trust that these top-tier organizations have invested in JPI’s product,” says JPI CEO Payton Mayes. “The alignment of our core values and our business models leave us excited to work alongside their talented teams and hopeful for future opportunities to work together.”
By year’s end, the partnership plans for another four communities to reach nine communities total and over 3,300 homes. “Our team has long admired JPI for their excellence in execution and market leadership,” says Dave Marcinkowski, partner at Madera Residential. “The opportunity to partner with WayMaker in such a values-forward development that also provides our investors access to these world-class communities, in one of the hottest markets in the country, is an exciting expansion of Madera’s platform.”
Unique to the partnership is the value-based funding contribution to Apartment Life’s ongoing financial health and benefit to multifamily communities. The nonprofit helps multifamily owners care for residents and in turn improve communities’ financial performance.
“The opportunity to align with JPI and Madera Residential is a dream come true for WayMaker,” says Keith Dunkin, president of WayMaker. “Our desire is to serve and love on all our constituents, residents, investors, and partners, and this portfolio in conjunction with our community engagement leadership with Apartment Life represents an exceptional opportunity to do just that.”
The five new communities are set to provide best-in-class living experiences and amenities throughout the portfolio.
