JPI has officially closed on a 12.6-acre development site in Durham, North Carolina, paving the way for Jefferson Watts, a planned $150 million multifamily community that will mark the company’s first residential development in the state in more than 15 years. Located at the intersection of Hillsborough Road and La Salle Street, the project represents the developer’s strategic return to one of the fastest-growing rental housing markets in the United States and signals its long-term expansion across the Raleigh-Durham region.
Construction is expected to begin in July 2026, with the community scheduled for completion in 2028. Once delivered, Jefferson Watts will include 440 residences comprising 398 market-rate apartments and 42 luxury townhomes. According to JPI, the development has been designed to serve a broad mix of residents while addressing sustained housing demand generated by one of North Carolina’s strongest employment and education hubs.
The project is positioned within close proximity to Duke University and Duke University Medical Center, one of the region’s largest employers, creating direct access to a major concentration of healthcare professionals, graduate students, researchers, and supporting industries. The surrounding corridor has also experienced continued retail and infrastructure investment, strengthening its appeal as a long-term residential destination.
JPI said its decision to re-enter North Carolina followed an extensive review of U.S. growth markets that began in early 2024. The company evaluated metropolitan regions based on demographic expansion, employment growth, household income, housing supply constraints, and long-term economic fundamentals. Raleigh-Durham emerged as a preferred location due to its expanding labor market, growing population of young professionals, and declining multifamily construction activity, which the developer believes may create favorable market conditions over the coming years.
According to JPI, multifamily construction starts across the Raleigh-Durham metropolitan area have fallen significantly over the past two years, while demand for quality rental housing has remained comparatively resilient. The company has also established a permanent office in North Carolina’s Triangle region to support future development opportunities as part of its long-term investment strategy.
“Raleigh-Durham is exactly the kind of market we set out to find, with a growing employment base and quality of life that continues attracting talented professionals,” said Jake Fortune-Greeley, Vice President of Development for the Southeast at JPI. He added that reduced construction activity provides an opportunity to deliver additional housing supply while positioning Jefferson Watts as the first chapter of the company’s renewed presence in North Carolina.
Jefferson Watts has been designed as a mixed-format residential community combining traditional apartments with larger townhomes that offer features more commonly associated with single-family living. The apartment component will provide a mix of studio, one-bedroom, and two-bedroom residences averaging approximately 916 square feet. The three-story townhomes will offer nearly 2,000 square feet of living space, including 10-foot ceilings, private balconies, attached two-car garages, and upgraded interior finishes.
In addition to market-rate housing, 39 residences will include an affordable housing component intended to broaden accessibility for members of the local workforce. The inclusion of affordable units reflects a growing trend among large multifamily developments seeking to accommodate a wider range of income levels while supporting regional housing objectives.
Residents will have access to an extensive range of lifestyle amenities. Plans include a fifth-floor sky lounge overlooking the adjacent Hillandale Golf Course, indoor and outdoor social spaces, a resort-style swimming pool, sauna, fitness center with dedicated yoga studio, coworking lounges, private office space, multiple coffee bars, media and entertainment rooms, landscaped gardens, outdoor recreation areas, and controlled-access entry through a two-story leasing lobby.
Fortune-Greeley said the combination of premium amenities, larger townhome offerings, and high-quality finishes is intended to establish a new benchmark for residential living within the Durham market while responding to evolving lifestyle preferences among renters.
The project is being delivered in partnership with several established design firms. Architectural services are being provided by Cline Design, while McAdams is responsible for civil engineering and landscape architecture. Interior design has been entrusted to KAI, completing a multidisciplinary team supporting the development.
Headquartered in Irving, Texas, JPI is a national developer, builder, and investment manager specializing in Class A, attainable, and affordable multifamily communities throughout the United States. The company reports that more than 8,000 apartment homes are currently under construction across its national portfolio. JPI has been recognized among the country’s largest multifamily developers and continues expanding its presence in high-growth metropolitan markets through long-term residential investment strategies.
The Jefferson Watts development represents both a significant milestone in JPI’s regional expansion strategy and a notable addition to Durham’s evolving housing landscape. As construction progresses over the coming months, the project is expected to contribute additional residential capacity within a market where population growth, employment expansion, and limited new housing supply continue to shape long-term demand.
The information regarding project specifications, development timelines, market outlook, and future plans is based on statements released by JPI. Readers should independently verify project details and forward-looking information, as development schedules, market conditions, and project outcomes remain subject to change.