The designation comes at the tail end of a landmark year for D-FW’s top multifamily developer.

Per RealPage Inc., JPI has been named Dallas-Fort Worth’s most active apartment developer for the seventh consecutive year. JPI topped the list with 3,145 homes under construction, accounting for almost five percent of D-FW’s market share, and out-developing the runner up by over 1,000 homes.

“Maintaining the top ranking for seven years running is an incredible feat,” said Miller Sylvan, JPI’s Senior Vice President and Regional Development Partner. “It’s been a very exciting year for our team, and we are more motivated than ever to continue this pace into 2023 and beyond.”

This designation comes at the close of a landmark year for JPI. The development firm expanded their business to include workforce and independent senior living communities and closed on five new developments in just seventeen days in December.

These five developments – made up of both market rate and workforce housing – include Jefferson McKinney SPCA and Jefferson Verdant in McKinney, Jefferson Railhead II in Frisco, Jefferson Primrose North in Fort Worth, and Jefferson Waters Creek in Anna. With the start of these projects in December and January, JPI now has twenty active projects under construction across the D-FW metroplex. For more details on these developments, head to JPI’s Communities page.

“Closing over 1,700 homes in 17 days is a new record for our team,” said Sylvan. “These closes represent trusted partnerships with cities across the metroplex that continue to buy in to our vision of building what matters. We recognize that our success would not be possible without an entire community of people standing beside us and we are grateful for their support.”

In 2023, JPI’s central team is slated to close another 11 developments, adding 4,300 homes to residents across the metroplex. Alongside their market rate communities, the firm will continue to expand their workforce and senior footprint. Throughout their portfolio of apartment styles, residents can expect JPI communities to include outstanding customer service, a fine attention to detail, and community-centric design.

Contacts

Jody Lee, JPI
(214)451-6715
jody.lee@jpi.com

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            Irving, Texas (August 25, 2022) – Today, JPI announced a joint venture with Madera Residential and WayMaker on five new developments across the DFW Metroplex. These five assets will provide over 1,750 class A multifamily homes to residents and help serve the growing need for housing in the thriving DFW metroplex. When completed, the joint venture portfolio will include nine communities in total. The first five communities, Jefferson Railhead, Jefferson Grandscape, Jefferson Cedar Ridge, Jefferson Northlake, and Jefferson Peninsula, are the first to start construction in an agreement between the parties. By the end of 2022, the parties expect to start another four communities together for a total of nine communities, representing over 3,300 homes, and valued at over $1 Billion. 

“We are grateful for the confidence and trust that these top-tier organizations have invested in JPI’s product,” said Payton Mayes, JPI’s Chief Executive Officer. “The alignment of our core values and our business models leave us excited to work alongside their talented teams and hopeful for future opportunities to work together.”

“Our team has long admired JPI for their excellence in execution and market leadership,” said Dave Marcinkowski, Partner at Madera Residential. “The opportunity to partner with Waymaker in such a values-forward development that also provides our investors access to these world class communities, in one of the hottest markets in the country, is an exciting expansion of Madera’s platform.”  

One of the truly unique features of this new partnership is the value-based funding contribution to Apartment Life’s ongoing financial health and benefit to the multifamily communities. Apartment Life helps apartment owners care for residents by connecting them in relationships. This, in turn, helps improve the community’s financial performance through online reputation, resident satisfaction, and resident retention. The opportunity is to change lives, while changing business.

“The opportunity to align with JPI and Madera Residential is a dream come true for WayMaker,” said Keith Dunkin, President of WayMaker. “Our desire is to serve and love on all our constituents, residents, investors and partners, and this portfolio in conjunction with our community engagement leadership with Apartment Life represents an exceptional opportunity to do just that.”

These five communities, which are under construction and leasing up between now and 2025, are slated to provide best-in-class living experiences and top of market amenities throughout the portfolio. JPI has chosen Quext IoT and their uniquely innovative and patented smart apartment platform for these assets, aimed at enhancing the resident experience.

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About JPI

JPI is a national developer, builder, and investment manager of Class A multifamily assets across the U.S., with over 5,000 apartment homes under construction. JPI is headquartered in Irving, Texas, and has offices in California. With a 30-year history of successful developments throughout major U.S. markets and an unparalleled depth of industry-specific experience, JPI stands among the most active privately held real estate companies in the country. JPI’s executive leadership team has comprehensive experience in multifamily developments – ranging from low-density garden apartments and mid- to high-density wrap and podium projects and high-rise developments. The firm offers investment management, predevelopment, underwriting, marketing, and asset management services as well as construction, financial, and administrative services. To learn more about JPI, please visit JPI.com.

About Madera

Madera Residential is a Lubbock, TX-based investment company that specializes in multi-family apartment communities across the state of Texas and beyond. Since 2008, Madera has acquired more than 100 properties and 28,500 units throughout the Dallas/Fort Worth Metroplex, Houston and Austin. Today, the company manages over 45 properties with a total value of over $2.1 billion. To learn more about Madera Residential, please visit maderaresidential.com

About Waymaker

WayMaker is an institutional quality Christ-centered multifamily investment platform. WayMaker’s strategy involves creating value through relationships, technology, and community. WayMaker prides itself in Transforming Communities, and thus, Transforming Lives. The WayMaker investment committee is comprised of pillars of the multifamily industry who have spearheaded more than 2,000 transactions and manage more than 1,000,000 apartment homes valued at approximately $100 billion. To learn more about WayMaker, please visit waymakerre.com

CONTACT:

Erin Allen, JPI

(972)373-3661

erin.allen@jpi.com

The post JPI, Madera Residential, + WayMaker Announce Five-Deal Joint Venture appeared first on JPI.

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JPI’s FP&A team is responsible for three key components of the company’s finances: budgeting, forecasting, and the business plan; in layman’s terms, what JPI’s accomplishing today – and what it stands to accomplish in the future.

According to John, FP&A brings a uniquely critical mindset to JPI: “what we do in FP&A is very analytical. You have to dig in and go behind the numbers – tell the story of what’s going on.”

Telling this story is FP&A ‘s most crucial function: by gathering data from across the organization, and pulling a narrative out of it, the FP&A team turns information into perspective. This perspective is vital for the function of JPI’s Board of Directors, its Executive Leadership Team, and all its associates.

For John, the FP&A team has provided an incredible opportunity for individual and professional development: “I’ve been able to take on new assignments over the years and grow myself – put myself out there more, take more risks. It’s made me the Senior Associate I am today. I can’t be more thankful for the opportunities here at JPI.”

Q&A WITH JOHN

Q: If you had two minutes to give a speech on anything, what would your topic be?

A: Raising kids. My biggest tip is to understand what your child is going through and how they communicate – try to see the world in their eyes.

Q: Do you have a mundane superpower?

A: Memory! I seem to be the go-to person for information on things that JPI did in the past.

Q: If you could learn any skill right now, what would it be?

A: The ability to be a scratch golfer! It’s a sport that I have recently picked up, and it’s very difficult.

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Spoor Electric prides itself on its deep-seeded family values and commitment to quality. In an industry characterized by fast pace and high turnover, Spoor prioritizes experience – for employees, customers, and, ultimately, residents.  

“Maintaining quality with efficiency is a juggling act because everybody wants to go,” said Clayton Spoor, President of Spoor Electric. “You’ve got investors, contractors, other subcontractors – everyone wants to move forward. But you have to remember that this is a home. Someone’s going to live here.” 

Having strong relationships with our trade partners is critical to JPI’s operation. Interestingly, Spoor Electric’s relationship with JPI predates the formal establishment of either company: before Mike and Susan Spoor founded Spoor Electric, Mike’s father Charles owned his own electric company. That company worked on many projects for JPI in the late 80s – before JPI was even JPI!  

After a decade (and more) of partnership, the Spoor Electric team has become an indispensable part of the JPI community. Working together, both companies have built a stronger sense of home for DFW residents.  

“JPI was the first to call a subcontractor a trade partner,” Clayton said. “It makes you feel like you’re really doing something together. This is a hard business to be in; when companies like JPI treat you like you’re on their team, it makes it easier.”  

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For Jesse, the biggest difference doing construction work in a managerial role, rather than as a subcontractor, is in the responsibility he feels toward his projects: “being a Superintendent is in the verifying, the scheduling, and the management – that’s a large difference compared to just showing up and doing the work.” 

As Superintendent II, Jesse is part of a massive project management team that oversees the entire construction site and process. His day-to-day work consists mainly of preparation: preparing schedules, preparing the job site for subcontractors, and even preparing for the next projects to come. But preparation is little without maintenance and execution – so how does the project management team juggle so many moving parts?  

“The way we play it now,” said Jesse, “it’s a very collaborative approach. We gather often and walk the job sites together – asking for each other’s opinions and reaching out to one another for help when we need it.” 

JPI’s construction teams are tasked with uniquely exciting, yet challenging responsibility: building something spectacular from the ground up. But leaders like Jesse inspire the creation of community in more ways than one – not only are construction teams building communities through physical residences, but also through their relationships with one another.  

“The difference in working on-site is that you can really see people for who they are; there’s a sense of friendship,” Jesse said. “Seeing these personalities come together and work together, you really come to appreciate what you’re doing.” 

Q&A WITH JESSE 

Q: If you could instantly become an expert in something, what would it be?  

A: Scheduling.  

Q: What random topic are you an expert in?  

A: Gardening! I love working in my garden; I’m currently growing some herbs and tomatoes.  

Q: What piece of advice would you share with your younger self?  

A: I would say, “even though you don’t care about finances, they are very important!” Preparation is everything, and I would make myself start preparing sooner.  

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At JPI, “People Operations” spans the entire lifecycle of an associate’s tenure – from requisitions, to onboarding, to payroll and benefits, and career advancements. Paige leads the People Operations team, which directly oversees the day-to-day associate experience; she also supports the larger People + Culture team, which oversees general people operations within the company, such as initiatives and implementations.  

“In one word, my job is dynamic – I have to lead with flexibility,” Paige said. “My top priority on any given day will often shift and evolve. The team is dynamic, too; there’s lots of overlap in the People + Culture team, we all have a stake in each other’s essential functions. We really challenge each other to collaborate and take on new things.” 

In recent years, JPI has been one of many companies to shift its perspective on the role of Human Resources within the business model. Rather than focusing solely on policy and procedure, HR professionals have become business partners, advocating for employees in business plans. As a people-first organization, creating this space for people management at JPI has become increasingly important:  

“Even in the time I’ve been an HR professional, since 2009, I’ve really seen it evolve,” said Paige. “HR is earning a seat at the table and stepping into a bigger role within companies – it’s becoming more about being a business partner than just an administrative focus. It feels good that our work is recognized as vitally important to the success of the company.”  

Q&A WITH PAIGE 

Q: If you could have a lifetime supply of one thing, what would it be?  

A: Mac n’ cheese. 100 percent.  

Q: If you had your own late-night talk show, who would you invite as your first guest?  

A: Taylor Swift, hands down.  

Q: What is your go-to karaoke track? 

A: “Party in the USA” by Miley Cyrus or “Baby Got Back” by Sir Mix-a-Lot. Throw down either of those, and I’m good.  

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In his role as Affordable Housing Development Manager, Ryan sees affordable developments from beginning to end. “The most exciting thing to me,” Ryan said, “is seeing the progress from a raw plot of land to a finished complex – when you see the sparkle on the face of a resident. It’s giving people the opportunity to have a safe, quality place to live that they can afford.”  

Tax credit developments differ from JPI’s other projects in a variety of ways – chief of these is the level of coordination needed not only between JPI’s many departments, but between the company and the communities in need. JPI’s affordable communities are brought to life in partnership with the cities in which they are built – this adds an increased sense of opportunity and responsibility. As these projects cycle through applications, development, construction, and stabilization, the Affordable team must manage the needs of the communities at hand, the associates and trade partners involved, and the legal standards in place.  

To effectively coordinate so many moving pieces, Ryan focuses on building strong relationships: “when it comes to working with these cities, it’s about building a rapport. That way, you’re able to communicate clearly to achieve what you want: a community that serves the people in need. We’re all one team, shooting for the same goal. My question is always, ‘how can I use my skills and my relationships to help the development move forward?’”  

The Affordable team has closed four tax credit properties so far and has more coming through the pipeline.  

Q&A WITH RYAN 

Q: Would you rather live where it only snows, or where the temperature never falls below 100 degrees?  

A: Where the temperature never falls below 100 degrees. Snow would be fun for a couple months, but not forever.  

Q: If you could change places with anyone in the world, who would it be? Why?  

A: I would trade places with Scottie Scheffler, the PGA Tour golfer who’s number one in the world right now. Just to experience the things he gets to do, week in and week out.  

Q: What is one skill that you think everyone should have?  

A: To be fast to listen and slow to speak. When you listen first, you can learn the background about situations that may later influence your direction.  

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Sang’s daily work consists largely of driving production and managing construction on projects in various stages – but he has found this work to be focused on people as much as the physical processes involved. With each project, he analyzes the different personalities, strengths, and development areas of his employees, and creates the most effective teams possible — as projects advance, he continues to manage these teams’ operations and oversee their progress. “People management can be even more necessary than technical skills at times,” Sang says. “It’s being able to get the most out of the people you work with, for, and under.” 

For Sang, what makes the construction industry exciting is also what makes it challenging: people will always be building, especially in a prominent market like DFW; but constant need generates constant change and keeping up with new processes is becoming increasingly difficult. However, Sang is confident in JPI’s ability to weather such a challenge. “In today’s market,” says Sang, “we see a lot of hesitation & burnout – from design consultants, trade partners, and even your own team members. What sets JPI apart is our ability to adapt when necessary. I think we are at the forefront of leveraging industry changes in the multifamily game.”  

This month, Sang starts an exciting new journey: getting his EMBA from Baylor University! Through JPI’s education reimbursement plan, he will have the opportunity to continue his business education in tandem with his role as Senior Project Manager.  

To aspiring Project Managers, Sang leaves a word of advice: “When it comes to project management, it’s a 24/7 job. For me, the hardest part is taking a step back and realizing that you’re only human – project management doesn’t ever stop, but you must figure out how to maximize your time and prioritize high-impact items. Otherwise, you’ll lose sight of the goal and find yourself in a professional rut.”  

Q + A WITH SANG 

Q: If you could be on any reality TV show, which would you choose?  

A: “MTV Cribs.” The high-end residence shown in the Mariah Carey episode was done by a former employer of mine!  

Q: What book or movie has changed your life the most? 

A: “The Case for Christ” by Lee Strobel helped me answer a lot of faith-based questions growing up.  Faith is the foundation of my life both personally & professionally  – it has helped me navigate the challenging world we live in. 

Q: What song could you listen to all day long? 

A: “Mirrors” by Justin Timberlake is my go-to jam. The fascinating concept of a mirror which projects your true reflection can apply to a person, place, thing, or passion. That resonates deeply with my life & professional experience.  

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A key relationship throughout the past few years of JPI’s operation has been with High Tech Low Volts. Since 2013, High Tech Low Volts has been providing multifamily communities in DFW with a multitude of low-voltage services, such as fire alarms, access controls, and audio installations. JPI began its relationship with HTLV in 2016 in Dallas – in the following years, HTLV has provided low-voltage services on most JPI projects.  

“The team at JPI has taught us a lot,” said Josh McCusker, Managing Partner at HTLV. “JPI is a name that every other builder and developer in DFW knows. It’s been a huge learning experience.” 

The construction of South Side Flats was High Tech Low Volts’ first experience working with an established general contractor; since then, High Tech Low Volts has expanded considerably to 40 employees, and now serves additional markets including Austin, Houston and Oklahoma. According to the company’s stewards, this success comes from outlook, not just operations: 

“Compared to other contractors,” said McCusker, “we’re using the same materials, working the same timeline, and often pulling from the same labor force. The only different thing that we can offer is our attitude toward our customers – the willingness to show up for them.” 

Like JPI, High Tech Low Volts bases its operations on clear, people-focused principles. Balancing the needs of customers and employees, and ensuring the satisfaction of both parties, is the constant goal: 

 “The foundation of High Tech Low Volts is that we build relationships,” said founder and Director of Operations Brandon Zimmerman. “We’re not just here to do a job – we want our contractors to be happy with our work, and we want our team to be happy working for us.”  

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