JPI Lands $190M in Financing to Build Jefferson Vista Canyon

SANTA CLARITA, CA—Multifamily development firm JPI reports it has secured $190 million in construction financing for its 480-unit Jefferson Vista Canyon project here.

Comerica Bank, based in Dallas, and Colony Credit Real Estate, which is located in Los Angeles, are providing the construction financing for the Jefferson Vista Canyon development.

Jefferson Vista Canyon is the first major residential development within  JSB Development’s Vista Canyon, a new 185-acre, mixed-use walkable community. The master-planned development will include retail, office, hospitality, apartments, townhomes and single-family residences, along with a new intermodal transit station and the Metrolink commuter rail at its center. Also, planned are a variety of single-family residences and a new 11-acre park will be located minutes away.

Jefferson Vista Canyon is set to be finished by spring 2020.

“Jefferson Vista Canyon is JPI’s third property within the Santa Clarita Valley and is a further reflection of our commitment to invest in developing communities in the region,” says Rosie Cooper, executive vice president and regional managing partner of the western region for Irving, TX-based JPI. “Our new luxury apartment homes will be a perfect fit for JSB’s vision of creating a living environment that integrates urban vitality and connectivity with its own 10-mile system of bike, pedestrian and equestrian paths in one of the nation’s largest urban environments.”

Amenities planned for the project include: two resort-style pools, with spas and cabanas containing large-screen TVs; two state-of-the-art fitness centers; a clubhouse with double-height ceilings and a vaulted skylight system, two-way fireplace and gourmet entertainment kitchen; a “Speakeasy” lounge featuring high-top bars with a kegerator, wine refrigerator, multiple flat-screen TVs, a pool table, shuffleboard and a multi-sport simulator; a rooftop deck with a barbecue area and fire pit and a dog park and dog-washing station.

James S. Backer, president of JSB Development, adds, “With the near-completion of Vista Canyon’s water-reclamation facility, which furthers our commitment to authentic green resources, plus the growing interest in the Gensler-designed three-story office building planned for the community, the anticipated groundbreaking of JPI’s development is an outstanding trendsetter for this master-planned community.”