Irving-based apartment builder JPI has started its next North Texas project — this time in Grand Prairie.
The first phase of the Jefferson Loyd Park rental community will include 450 apartments near Joe Pool Lake. The project is on State Highway 360 between Debbie Lane and Broad Street.
“We’re grateful to the city of Grand Prairie for their partnership on this project, and to so many others who helped it come to life,” JPI chief executive Payton Mayes said in a statement. “As an organization, JPI is focused on building great communities that people want to live in. Jefferson Loyd Park is a prime example of that commitment, and no doubt will make a lasting impact.”
The Jefferson at Lloyd Park apartments will cost $73.5 million and will include seven three-story buildings on the 25-acre site, according to planning documents filed with the state.
The development will include a resort-style pool with cabanas, a fitness center and access to nearby Loyd Park and Joe Pool Lake.
Happy State Bank is financing the project. It was designed by Architecture Demarest.
“Jefferson Loyd Park Phase 1 marks JPI’s third project in Grand Prairie in the last 18 months, so we have become very familiar with their quality and standard of work,” Grand Prairie Mayor Pro Tem John Lopez said in a statement.
JPI is building more than 6,200 apartments in North Texas.
It just completed its 200-home Parmore Arcadia Trails community in Balch Springs. It also finished work on its 325-home, 11-acre Texas Plaza II apartments in Irving and the 424-unit Jefferson at the Grove in east Frisco.
Dallas-Fort Worth is the country’s top apartment building market with more than 70,000 rental units under construction.
