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JPI Breaks Ground on $75.6 Million Venture in White Plains

WHITE PLAINS-Dallas-based luxury housing developer JPI broke ground on yesterday on a $75.6-million project that will feature 281 luxury rental apartment units and some retail space.

By John Jordan | Updated on October 03, 2001

WHITE PLAINS-Another developer has broken ground on a luxury rental project here. Yesterday, JPI, a Dallas-based luxury housing real estate company turned dirt on its $75.6-million The Residences at Jefferson Place project at 300 Mamaroneck Ave.

The project is one of a host of ventures that have broken ground recently that will eventually add approximately 1,800 new housing units here, according to city officials. The Residences at Jefferson Place will transform a 3.8-acre Mamaroneck Ave site into 281 rental housing units and some retail space. The units will be a mix of one-, two- and two-bedroom-plus-den apartments. The size of the apartments will range from 750 sf to 1,250 sf, priced at approximately $2.70 per sf, according to JPI officials. Therefore, the smallest market rate units will be priced at approximately $2,025 per month and the largest will incur a monthly charge of $3,375.

Jack Englert, vice president and area managing partner for JPI, said the company is now attempting to finalize its financing for the venture on a parcel that has been vacant for more than 30 years. The firm is also studying other sites for additional luxury rental projects in Yonkers and the Mount Kisco area, Englert noted.

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