After 12 Years Away, JPI Returns to Austin

Austin has seen consistent economic growth for the past several years, turning its multifamily industry into one of the most aggressive markets in the nation. National developer, builder, and investment manager of Class A multifamily assets JPI took note and announced the opening of its new office in Austin.
Dustin-Slack

Dustin-Slack

Austin has enjoyed consistent growth for the past several years, turning its multi-family market into one of the most aggressive in the nation. The newest entrant in the market is JPI, a national developer, builder and investment manager, which now has an office in Austin for the first time in a dozen years.

JPI hired industry veteran Dustin Slack as vice president and development partner for the regional office, which is located at 1250 S. Capital of Texas Hwy. His focus will be on multi-family development in the Austin, San Antonio, and Houston markets for JPI’s Southern Region development group. Slack will be responsible for all operations, from acquisition to disposition.

JPI’s Austin multifamily portfolio totals 906 units in three complexes:

  • Cielo – a 326-unit community completed in April 2014 in the Bee Cave/ Lake Travis area;
  • Madrone – a 228-unit community completed in April in Bee Cave/Lake Travis;
  • Sur512 – a 352-unit community scheduled to be completed by April 2016 on South Congress.

“While we have an extensive and successful history in Austin dating back to 1990, acquiring and developing 31 communities totaling 9,900 units, we have not had a local office in Austin since 2003. With the positive investment catalysts driving the Austin economy, the opportunity for growth is apparent and long-term,” said Ben Montgomery, managing regional partner for JPI’s Southern Region.

Slack is a member of the Urban Land Institute, the National Multi-Housing Council and the Real Estate Council of Austin. Prior to joining JPI, he led teams at McShane Development Co. and Forestar Real Estate Group, overseeing development of more than 3,500 multifamily units. At Trammel Crow Residential’s South Central Division Slack developed more than 2,500 units.