JPI Expands Texas Operations with Austin Office Opening

June 17, 2015 - PRLog -- JPI, a national developer, builder and investment manager of Class A multifamily assets, announced the opening of its new office in Austin, Texas. The firm hired industry veteran, Dustin Slack as vice president and development partner for the Austin office. He will focus on multifamily development in the Austin, San Antonio, and Houston markets for JPI’s Southern Region development group.  He is responsible for coordinating all aspects of the multifamily project life cycle including site acquisition, entitlements, capitalization, construction, operations and disposition.

JPI’s multifamily development activities are concentrated in the population and employment growth corridors of markets that are favored by institutional investment capital. Austin’s multifamily industry is one of the most aggressive markets in the nation. The city has seen consistent economic gains for the past several years fueling a demand for housing.

JPI currently has three multifamily projects in Austin totaling 906 units, including:

·         Cielo (http://www.livecielo.com/) – 326 units completed April 2014, located on 38 acres in Bee Cave / Lake Travis area

·         Madrone (http://www.livemadrone.com/) – 228 units completed April 2015, located on 40 acres in Bee Cave / Lake Travis area

·         Sur512 – 352 units expected to be complete April 2016, located on 9 acres on South Congress

“JPI is excited to reestablish roots in the Austin market,” said Ben Montgomery, managing regional partner for JPI’s Southern Region. “While we have an extensive and successful history in Austin dating back to 1990, acquiring and developing 31 communities totaling 9,900 units, we have not had a local office in Austin since 2003. With the positive investment catalysts driving the Austin economy, the opportunity for growth is apparent and long-term.”

Montgomery continued, “Dustin is well-respected in the industry, has an expansive background in multifamily development, and is a terrific addition to the team. We are confident Dustin will lead JPI back to being one of the top multifamily developers in Austin.”

Prior to joining JPI, Slack led teams at McShane Development Company and Forestar Real Estate Group supervising more than 3,500 multifamily units in the planning, construction and lease-up stages.  He also developed more than 2,500 units while at Trammell Crow Residential’s South Central Division.

Slack is a member of the Urban Land Institute (ULI), National Multi-Housing Council (NMHC) and the Real Estate Council of Austin. He received his MBA from the Edwin L. Cox School of Business at Southern Methodist University in 2001, earned his registration as a licensed architect in 1996, and graduated from the University of Texas, School of Architecture, in 1993.

With more than 20 years of successful developments throughout the major U.S. markets, JPI has established itself at the forefront of the multifamily market.  The company has developed or is currently developing more than 300 projects consisting of more than 90,000 units located in 126 cities covering 27 states and Canada.  The current investment and organizational platform is designed with a capacity to produce approximately $400 million of projects annually with target markets in California, Arizona, Texas, Colorado, New York and select Northeast markets.  JPI’s Austin office is located at 1250 Capital of Texas Highway South, Building 3, suite 400.

About JPI

JPI is a national developer, builder and investment manager of Class A multifamily assets in select United States markets headquartered in Texas with offices in Arizona, New York and California.  With more than a 20-year history of successful developments throughout the 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 an average of 25 years of comprehensive experience in multifamily developments ranging from low density garden apartments, mid to high density wrap and podium projects, student living housing projects and mixed use high-rise developments. The firm offers investment management, pre-development, underwriting, marketing and asset management services as well as construction, financial and administrative services.  To learn more about JPI, please visit www.jpi.com.