JPI Plans $150M Multifamily Complex Near Duke University

Key facts

• JPI is building a multifamily complex called Jefferson Watts.
• The project's cost is $150 million.
• The community will feature 440 homes.
• The development is located in Durham, North Carolina.
• The site is near Duke University.
• This is JPI's return to the North Carolina market after more than 15 years.
• The project targets a rapidly growing renter market.

Multifamily developer JPI is embarking on a significant new project, the construction of a $150 million, 440-home community named Jefferson Watts. This development is slated for Durham, North Carolina, with a location strategically chosen near Duke University. The project represents a notable re-entry into the North Carolina market for JPI, marking their first venture in the state in over 15 years. The company is targeting a renter market that is experiencing rapid growth. This expansion into North Carolina highlights JPI's strategy to address increasing demand for rental properties in dynamic urban and university-adjacent areas. The development is expected to contribute to the local housing stock and cater to a growing population of renters.