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JSQ Commercial Breaks Ground On 2 Developments In Multifamily Fund

INDIANAPOLIS - JSQ Commercial begins construction on two new multifamily development projects in Indianapolis and Houston, part of its $36.5 million multifamily development fund.

By Chip Barnett | Updated on February 13, 2013

   INDIANAPOLIS – JSQ Commercial recently broke ground on two new multifamily development projects located in Indianapolis and Houston.  

   The projects are part of JSQ’s $36.5 million multifamily development fund, a national plan run in conjunction with Watermark Residential and Thompson Thrift Construction.    The Indiana project is a 220-unit development located in the Indianapolis suburb of Fishers. Work began in December 2012 and is expected to be finished in March 2014.     ”Indianapolis has been one of the fastest growing cities in the Midwest for some time now, and Fishers is one of its most affluent and prosperous suburbs,” JSQ Commercial Vice President  Mike McNeive says in a release. ”When complete, our project will put residents in close proximity to several of the retail and lifestyle amenities Fishers has to offer as well as provide tremendous access to downtown Indianapolis and surrounding suburbs.”     The Texas project is a 318-unit development located in the Houston suburb of Cypress. The project broke ground in October 2012 and is scheduled for completion in mid-2014.    ”Texas, and more specifically Houston, has been one of the bright spots in the US economy since the recession as job and infrastructure growth has continued strongly at a time when the rest of the country was struggling to gain a footing,” McNeive says. “Steady job growth creates demand for multifamily housing and we feel our project is well positioned to take advantage of a shortage of high quality multifamily product in the market.”    The projects are the second and third developments in JSQ’s multifamily fund, which has 800 units under construction. The first project in Louisville broke ground in June 2012.     Hinsdale, IL-based JSQ Commercial is a full service commercial real estate company with expertise in investments, brokerage, development and management. Watermark Residential and Thompson Thrift Construction are both based in Indiana.

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