What's Happening?
JPI has commenced construction on Jefferson Bonnie Brae, a $132 million workforce housing project in Denton, Texas. The development will feature 461 residential units across five buildings, with amenities including a pool, fitness center, and dog park. The project is funded through tax-exempt municipal bonds arranged by Berkadia.
Why It's Important?
The development of workforce housing addresses critical housing needs in North Texas, providing affordable living options for local residents. This project supports economic growth by enhancing housing availability and contributing to community development. The use of municipal bonds for funding highlights innovative financing strategies in real estate development.
