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JPI Acquires Land for $364 Million Apt. Project Near Angel Stadium

Texas Multifamily Developer Plans to Break Ground on Jefferson Stadium Park By End of 2016
January 25, 2016
Irving, TX-based apartment developer JPI has acquired 17.6 acres from Prologis and announced plans to build a 1,079-unit apartment community across the street from Angel Stadium in Anaheim, CA.

In addition to the new Jefferson Stadium Park, to be built in three phases on the southwest corner of State College Boulevard and Gene Autry Way, JPI is currently building Jefferson Platinum Triangle, a 400-unit luxury project scheduled to open next year less than a mile away.

Jefferson Stadium Park will be located near Anaheim's Regional Transportation Intermodal Center (ARTIC), as well as the proposed Anaheim Rapid Connect, a streetcar system that would provide service over a 3.2 mile corridor. JPI is working with the city of Anaheim to secure entitlements for $364 million project, which includes a 1.1-acre public park, with the goal of breaking ground by the end of the year, with occupancy slated for 2018.

The projects are located in Anaheim's evolving Platinum Triangle District, an 840-acre transit-oriented development guided by a master plan aimed at bringing high-density mixed-use office, restaurant and residential projects to the city.

Please see CoStar COMPs #3499251 for more information on the transaction.
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