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McKinney rental community will include apartments and townhomes

Builder JPI is planning its next project north of S.H.121.

Irving-based apartment builder JPI is ready to start its next project in McKinney.

JPI, which is one of the busiest apartment developers in North Texas, recently sold its Jefferson Terrace apartments in McKinney. Built on Rockhill Road east of U.S. Highway 75, the 354-unit property was acquired in October by a California investor.

Now JPI is preparing to break ground on a 335-unit apartment development on Stacy Road north of State Highway 121.

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The almost 30-acre Jefferson McKinney Stacy project will have 240 apartments in three-story buildings and 95 townhomes, according to planning documents filed with the state.

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The more than $70 million development is set to start at the end of this month.

Atlanta architect Lord Aeck & Sargent is designing the buildings.

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The McKinney rental community is just one of several projects JPI is kicking off in North Texas.

North of McKinney in Anna, JPI is building a 325-unit rental community with a combination of apartments and homes.

Also in Anna, JPI is building a 185-unit seniors apartment property in partnership with the Anna Housing Finance Corp.

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And in Addison, the developer is working on plans for a 287-unit development on about 3 acres on Airport Road at Addison Parkway.

Last summer, JPI said it was teaming up with Lubbock-based Madera Residential and Dallas’ Waymaker Partners to construct more than 3,300 apartments in North Texas. The first five of those projects in the venture will include rental communities in Frisco, The Colony, Northlake, Grand Prairie and Dallas.

JPI is one of the area’s top apartment builders with 5,000 apartments under construction.

And the D-FW area is the nation’s busiest apartment building market with more than 60,000 new units on the way.