The developer and construction company JPI, recently named the most active developer in the Dallas-Fort Worth area, announced a $80 million multifamily project planned for Anna in Collin County. According to the Dallas Business Journal, the development will include 320 multifamily units as well as 5,000 square feet of retail space for development.
Located at East Finley Boulevard and Sharp Street, the new community, named Jefferson Finely, will comprehend a total of 430,000 square feet. Its construction is expected to begin this year to be delivered in 2025.
“We’re still in the very early stages but are excited to be partnering with the City of Anna on this new community,” Miller Sylvan, senior vice president and regional development partner at JPI told the Dallas Business Journal. "Jefferson Finley will provide much-needed housing to a rapidly growing area, including a percentage set aside to serve the local workforce.”
As previously reported by Local Profile, Anna is sandwiched by two growing areas located some 20 miles south of Sherman and 40 miles north of Dallas, which resulted in a flood of new residents in the years following the pandemic when remote working became more common. According to The Dallas Morning News, the town’s population is expected to double in the next decade, from 20,000 last year, to 45,000 by 2030.
Planning ahead for this big change, in 2022 the city invested in infrastructures like roadways and sewers in order to support more development and allow new buildings to be built on the west side. Additionally, they made things easier for developers, reworking the permit process so it takes days instead of weeks to finish. The city even built a new city hall and new library to accommodate the surge of new residents.
This is not the first project JPI planned for the area. In 2022, the company shared news on two developments headed for the city. First, in June 2022, JPI and the city of Anna celebrated the groundbreaking of Parmore Anna Senior Living, a 150,000-square-foot, luxury independent living community located at the northwest corner of Florence Way and East Finley Boulevard.
Later in September 2022, the company filed a plan document with the state for the construction of a 399,528 square feet, $59 million apartment community located southwest of White Street (FM 455) and Oak Hollow Lane in the Waters Creek Residential Campus.
“Part of the vision of JPI is not just to build the best communities, but it’s also to make a generational impact in the community,” told the Dallas Business Journal Scott Turner, chief visionary officer of JPI. “Building the homes is one thing, but impacting the community, by way of its people, is equally important to JPI.”