DENVER-Dallas-based JPI, one of the nation’s largest developers of luxury apartment communities, plans to develop more than 2,000 apartment units here over the next two years. The value of the construction is estimated at $235 million.
This year, it plans to start construction on 1,111 units with a total value of $135 million. Projects include 469 units in Jefferson at Aspen Ridge, three miles east of the new I-470 tollroad near Buckley Air Force Base in the Fitzsimmons Redevelopment Area; 204 units for the third phase of Jefferson at Lowry, a former Air Force base in east Denver; 237 units in the Jefferson at Gateway near Lower Downtown in Downtown Denver; and 424 units for the third phase of the Jefferson at Meridian in the Meridian International Business Park in Douglas County.
In 2003, the company plans to develop 900 units for $100 million.
“We are cautiously optimistic,” JPI divisional president Tim McEntee tells GlobeSt.com ‘”We are watching the US 36 corridor closely, because of its high concentration of high-tech jobs. We’re also watching Meridian because of its high concentration of tech jobs. But it also has employers like First Data and Merrill Lynch, which gives us a lot of confidence.”