440-home community near Duke University anchors JPI's re-entry into the high-growth Raleigh-Durham market

DURHAM, N.C., June 24, 2026 /PRNewswire/ -- JPI, a premier developer of multifamily communities, today announced the closing of a 12.6-acre site on Hillsborough Road and La Salle Street in Durham, North Carolina. The acquisition launches development of Jefferson Watts, a $150 million, 440-home community that will deliver a mix of luxury apartments and high-end townhomes with direct access to Duke University's Medical Center, and marks JPI's first development in North Carolina in more than 15 years.

Jefferson Watts represents the lead development in JPI's expansion into the Raleigh-Durham region, one of the nation's fastest-growing renter markets. JPI is scheduled to break ground in July 2026, with completion anticipated in 2028.

Why North Carolina, Why Now

JPI began studying long-term expansion markets in early 2024, weighing where the firm wants to be over the next decade and beyond. Raleigh-Durham rose to the top of that analysis, scoring highly on supply barriers, young-adult population, household income, and labor-force growth. With multifamily construction starts across the metro down an estimated 55 to 65 percent, the region is positioned for strong rent growth as demand continues to outpace new supply. JPI has since established a permanent office in the Triangle to support its long-term growth in the market.

"Raleigh-Durham is exactly the kind of market we set out to find - with a growing employment base and quality of life that keeps drawing talented young people to the Triangle," said Jake Fortune-Greeley, Vice President of Development for the Southeast at JPI. "With construction starts pulling back sharply, this is a unique window to deliver high-quality housing where it's needed most. Jefferson Watts is the ideal first chapter for JPI in North Carolina, and not the last."

The location is exceptionally hard to replicate. The site sits among the few remaining developable parcels in direct proximity to Duke University Medical Center, which employs more than 11,000 people, and sits alongside a graduate student population of roughly the same size. It anchors a highly accessible corridor that is rapidly transforming with new grocery and retail development, creating a steady, built-in source of housing demand.

A Community Designed for the Way Durham Lives

Set across 12.6 acres, Jefferson Watts pairs 398 market-rate apartments with 42 luxury townhomes, a combination rarely offered this close to Duke's campus and Medical Center. The five-story apartment building will feature a curated mix of studio, one- and two-bedroom homes averaging 916 square feet, while the three-story townhomes deliver nearly 2,000 square feet of space with 10-foot ceilings, two-car garages, private balconies and master suites with thoughtfully curated finishes. Thirty-nine homes will be offered with an affordable component, broadening access across the area's workforce.

Residents will enjoy an amenity package designed to rival the best of downtown Durham. A fifth-floor sky lounge and several thousand square feet of indoor-outdoor amenity space open onto sweeping views of the adjacent Hillandale Golf Course. The community also offers a sauna, resort-style pool, an expansive fitness center with a dedicated yoga studio, coworking lounges and private offices, multiple coffee bars, a media and game room, and beautifully designed outdoor spaces including a zen garden and an outdoor games and game-watch area. A gated entry and a landscaped park buffer welcome residents and guests through a dramatic two-story leasing entrance.

"From the high-end amenity package and finish level to the townhomes that live like single-family homes, Jefferson Watts raises the bar for what residents in this market can expect," added Fortune-Greeley.

Jefferson Watts is being developed with a team of leading design partners, including architect Cline Design, civil engineering and landscape architecture by McAdams, and interior design by KAI.

About JPI

JPI is a leading developer dedicated to transforming building, enhancing communities, and improving lives. With a commitment to excellence and innovation, JPI delivers Class A multifamily housing that exceeds expectations and fosters vibrant neighborhoods. By focusing on sustainable development and strategic partnerships, JPI continues to shape the future of community living while positively impacting communities nationwide. For more information about JPI and its portfolio of projects, please visit JPI.com.

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SOURCE JPI