Younger Partners 2024 Land Sale Leads to New Multifamily Construction Project

A 31.8-acre land sale in Grand Prairie brokered by Younger Partners in 2024 is now entering its next phase of development, as JPI begins construction on Jefferson Southwest Parkway, a $114 million Class A garden-style multifamily community at the northwest corner of Lake Ridge Parkway and Great Southwest Parkway in Grand Prairie.

Younger Partners Executive Managing Director John St. Clair and Vice President Davis Willoughby represented the undisclosed seller (and long-time landowner)  in the direct transaction with JPI, which recently closed on project construction financing.

Slated for delivery in 2027, Jefferson Southwest Parkway will feature 439 multifamily units, including studio, one-, two- and three-bedroom apartments. The community will offer a suite of upscale amenities, including a resort-style pool, fitness center, dog park and expansive clubhouse.

Positioned between Dallas and Fort Worth, the property provides convenient access to major interstates and state highways, connecting residents to the entire Metroplex. Additionally, residents can enjoy direct access to scenic walking trails located within the wooded area on the north end of the site.

“This tract was overlooked for years because of its topography and the city’s floodplain challenges, but JPI saw the potential to make those issues an asset,” St. Clair said. “This was an amazing acquisition for JPI and a wonderful addition to the city of Grand Prairie’s multifamily offerings.”

“Infill multifamily sites are highly coveted, and it is difficult to find them in the right location with the appropriate zoning,” Willoughby said. “When these parcels are found, they have great value. This site was a rare gem for JPI as it was already zoned for multifamily use.”

The Dallas-Fort Worth multifamily market continues to be supported by one of the nation’s strongest economies, driven by steady population growth, robust job creation and a diversified industry base. Following record levels of new supply over the past two years, the market is now transitioning toward a healthier supply-and-demand balance. Absorption remains strongest in high-growth suburban markets with strong demographics, quality schools and proximity to major employment centers.

“As new development activity slows, now totaling just 30,684 units underway, a multi-year low, the market is poised for stronger fundamentals as supply growth moderates and demand continues to expand,” St. Clair said. “In this environment, well-located, Class-A communities like Jefferson South Parkway are well-positioned to capture the next wave of renter demand.”