JPI topped off its third building last month and plans to break ground on the fourth in September. That project, called Jefferson at Half Street, will be the first LEED Silver multifamily development in the city for new construction, according to JPI. The first units from that project will be available by June 2010.
With this urban infill project well in hand, JPI East plans to look towards a different type of multifamily investment for the DC area--namely, transit-oriented projects in the suburbs, Aaron Liebert, senior vice president and area managing partner of JPI, told GlobeSt.com in an earlier interview. Besides providing diversification to its portfolio, "we see that as the next opportunity for us," he said.
For instance, the company is planning an approximate 460-unit project in Herndon, VA, that will be called Jefferson at Dulles. There are also plans for a 390-unit multifamily development at Bailey's Crossroads, VA, and a 400,000-sf mixed-use project at Tysons Corner.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
