JPI Readies $220M Project for DC Market

WASHINGTON, DC-JPI, a national developer based in Irving, TX, has a robust pipeline of multifamily and, increasingly, mixed-use projects under way in the Washington, DC-area.

The company broke ground this month on 70 Eye St., a 448-unit, two-building project being situated on a two-acre parcel. The second building with 246 units, 100 Eye St., is scheduled to break ground in October. Projected development costs for 70 Eye St. is $140 million and $80 million for 100 Eye St., Greg Lamb, senior vice president and regional managing partner of JPI in McLean, Va., tells GlobeSt.com.

Both buildings are scheduled for a summer 2008 delivery. GE Capital is JPI’s partner in this project, as well as many others in the DC area and nationwide, Lamb says. Amenities at 70 Eye St. will include three levels of below-grade parking, a fitness center, community movie theater, business center, conference room, billiards and pub room, rooftop pool and patio.