JPI has begun construction on a new multifamily development in Denton, Texas, called Jefferson Quail Creek. The 415-unit project is being developed in partnership with the Denton Housing Authority and is expected to cost $103.2 million. This marks JPI’s third workforce community construction start this year.
The new complex will include amenities such as a pool, courtyard with grills, beer garden, indoor-outdoor gym, and dog park. JPI’s approach of including affordable housing components has helped move the project forward despite current challenges in the market.
In addition to Jefferson Quail Creek, JPI recently started work on another nearby development, Jefferson Bonnie Brae. This project is also being built with support from tax-exempt municipal bonds. The land for Jefferson Bonnie Brae is owned by the Denton Housing Authority, which expects to receive $35 million in equity from the deal over the next decade. The 461-unit community will be located at North Bonnie Brae Street and Bronco Way.
Denton sits about 40 miles north of both Dallas and Fort Worth and has experienced significant growth due to its location within the expanding Dallas-Fort Worth metro area. Its population stands at approximately 166,000.
Despite ongoing construction activity across North Texas, there remains a shortage of more than 80,000 housing units in the region according to estimates from the Texas Public Policy Foundation.
Recent state legislation such as Senate Bill 840 was intended to ease multifamily development by removing barriers for developers converting buildings for residential use in large Texas cities. However, some local governments have responded by considering new regulations that could limit apartment development through requirements like building height restrictions or specific amenity standards.
