17 replies to this topic

[Stadtplan]

Record DS-22-0251: 

Drainage Study

Record Status: In Review

 

https://accela.fortw...ShowInspection=

 

Permit Address

8101 EDERVILLE RD

 

Project Description:

JPI=Eastchase

Proposed Multifamily Project

 

Disturbance Area (ac): 13.7

 

Here's the UDC Filing for this one:

 

https://accela.fortw...ShowInspection=

[Stadtplan]

Case: UDC-2022-114

Date: December 15, 2022 @10:00 AM

Address: 8101 Ederville Road

 

New Case

The applicant requests a Certificate of Appropriateness for waivers from the Near Southside Development Standards and Guidelines for the following items:

a) Waiver from the requirement to provide street trees along Tucker Street.

b ) Waiver from the requirement for a 25% transparency on all street facing facades to allow a transparency of 21% for all street facing facades.

c) Waiver to allow a planting strip of no less than 2 feet in width when a minimum of 5.5 feet is required.

 

[TLA]

Case: UDC-2022-114
Date: December 15, 2022 @10:00 AM
Address: 8101 Ederville Road
 

New Case
The applicant requests a Certificate of Appropriateness for waivers from the Near Southside Development Standards and Guidelines for the following items:
a) Waiver from the requirement to provide street trees along Tucker Street.
b ) Waiver from the requirement for a 25% transparency on all street facing facades to allow a transparency of 21% for all street facing facades.
c) Waiver to allow a planting strip of no less than 2 feet in width when a minimum of 5.5 feet is required.
 

I must be losing it. I see the address as Ederville but that takes me to far East Fort Worth. Where is this one?

[rriojas71]

 

 

 I must be losing it. I see the address as Ederville but that takes me to far East Fort Worth. Where is this one?

 

Seeing the name of the street I assumed East FW is where it was going to be.

[TLA]

I must be losing it. I see the address as Ederville but that takes me to far East Fort Worth. Where is this one?

Seeing the name of the street I assumed East FW is where it was going to be.

Except Tucker St is in Near Southside they are asking for waivers from the Near Southside Development Standards.

[Stadtplan]

You are right, its located at Cooks Ln and I-30 in East Fort Worth. I think I copied the test map UDC data while the city staff was still editing it. I noticed a couple other goofy things this morning on other cases so I must have bum rushed them a bit. I will take another look next time Im at my computer (Im running through some tax stuff tonight.)

This is another JPI project. We have tracked some of their other projects on the forum: Jefferson Ridglea Village and Jefferson River East. 14 acres is a big site.

[Urbndwlr]

Since this is in entitlement or permitting its prob too late but in my opinion, this site:

far from urban core, along an "entry gateway", naturally wooded site, would a perfect place to have a preserve. 

 

Instead, appears will become low density apartments totally unwalkable to anything.  Yes, we do need to create more housing and I believe we shouldn't nitpick every site to death but if I were able to single-handedly influence land use in FW, I'd make a dozen or so wooded sites along highways entering FW natural preserves (and expect the City to pay for them).

 

I believe these wooded sites at or near the edges/entries to Fort Worth would be very smart to preserve to have some natural break from our adjacent cities. 

Benefit:  when someone enters Fort Worth, they can tell when they've left Arlington, for example, and entered Fort Worth.  Maybe just 1500 feet of wooded highway frontage but it would be a really nice thing to have for FW's identity and a small natural respite for future generations.

 

Its not a good thing when a visitor can't tell when they leave one city & enter another aside from signage posted.

Second, eastern FW and eastern Tarrant Co have precious little remaining naturally wooded land, even if has been disturbed & is allowed to heal & grow it back, would have great value to Fort Worth to preserve as many of these as possible and the more visible, IMO the better.

[Stadtplan]

Back on the UDC Docket - New Case

The applicant requests the following:

a) A Certificate of Appropriateness for a waiver from the MU-1 Development Standards to allow a 6-foot-tall open-design fence to be located in the area between the front building facade and the public street frontage or public open space where fences are not allowed.

b ) A Certificate of Appropriateness for a waiver from the MU-1 Development Standards to allow a 6-foot-tall exterior open-design fence located along public streets, along private streets or walkways that are publicly accessible through a public use easement, or along publicly accessible open space to extend beyond building facades when extension beyond the exterior façade is not allowed.

Case: UDC-23-004

Council District: 5

Future Council District: 5

Date: February 16, 2023 @10:00 AM

Address: 8101 Ederville Road

 

[Stadtplan]

Apartment builder JPI plans thousands of Dallas-Fort Worth rental units

 

https://www.dallasne...w-rental-units/

[Stadtplan]

JPI Moving ahead with this project:

 

https://aca-prod.acc...ShowInspection=

 

Project Description:

Eastchase Addition

JPI Eastchase Final Plat

Final Plat of MF Development off Ederville Rd

[Eastsider817]

This is needed. Since this the last major plot of land in Eastchase. Its time to turn our attention to Woodhaven. I would be in favor of demolishing all apartments & Woodhaven and replace them with mixuse apartments and condos. Woodhaven being located on a hill really adds to appeal and should function as the economic & residential center of East Fort Worth.

[Stadtplan]

JPI Eastchase moving forward with TDLR filing:

 

https://www.tdlr.tex.../TABS2024000874

 

PROJECT

Project Name: Jefferson Eastchase (392277900)

Project Number: TABS2024000874

Facility Name: Jefferson Eastchase

Location Address: 8101 Ederville Rd

Fort Worth, TX 76120

Location County: Tarrant

Start Date: 11/1/2023

Completion Date: 12/1/2025

Estimated Cost: $16,875,000

Type of Work: New Construction

Type of Funds: This project is privately funded, on private land for private use.

Scope of Work: Multifamily residential development with 398 residential units with private garages and surface parking and a 13,000 sqft clubhouse

Square Footage: 13,000 ft 2

[Stadtplan]

Sumitomo Forestry to buy U.S. apartment builder JPI for $215m

Japanese developer looks to capture U.S. demand for rental units

https://asia.nikkei....er-JPI-for-215m

 

Presse Release: https://www.jpi.com/...ry-america-inc/

 

My quick rule of thumb for figuring out acquisition value of a larger construction company is = (average revenue for the past three years) / 2.  It appears their revenue last year was $423M with $13M pretax profit stated.  As far as pre-tax earnings, that seems kind of low but that's just my opinion.  There's a lot of other factors that go into this I'm sure but it seems to fit for this deal.  The fact that someone bought them and paid a decent price says a lot about the health of JPI.  JPI's Brand Value is a big part of this too.  

 

I found this on openAI for more info:

 

Valuing construction companies during an acquisition involves a comprehensive analysis of various factors to determine their worth. Here are some key considerations in the valuation process:

 

1. Financial Statements and Performance:

Revenue and Profit Margins: The company's historical and current revenue, as well as profit margins, are essential. Stable and growing revenue streams are favorable.

• EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): EBITDA is often used as a basis for valuation, especially for larger construction companies.
• Cash Flow: Analyzing cash flow is crucial, as it indicates the company's ability to generate cash and meet financial obligations.
• Backlog of Projects: The value of projects in the pipeline can be a significant factor, representing future revenue.

2. Assets and Liabilities:

• Property and Equipment: The value and condition of physical assets like machinery, vehicles, and real estate are assessed.
• Outstanding Debt and Liabilities: The company's obligations, including loans and pending lawsuits, are considered in the valuation.

3. Market and Industry Analysis:

• Market Position: The company’s position in the market, reputation, and brand value play a crucial role.
• Industry Trends: Understanding trends, such as technological advancements and sustainable construction practices, can impact valuation.

4. Contractual Agreements:

• Client Relationships: Long-term relationships with reputable clients can enhance the company’s value.
• Contractual Obligations: The nature and terms of existing contracts, including payment schedules and penalties, are reviewed.

5. Management and Workforce:

• Management Team: The expertise and experience of the management team are evaluated.
• Skilled Workforce: The quality and skill level of the workforce, especially in specialized construction areas, are important.

6. Legal and Regulatory Factors:

• Compliance: Ensuring the company complies with all legal and regulatory requirements is vital.
• Permits and Licenses: Validity and ease of renewal for necessary permits and licenses are considered.

7. Risk Assessment:

• Project Risks: Potential risks related to ongoing or upcoming projects, including environmental factors and regulatory changes, are evaluated.
• Market Fluctuations: Consideration of economic downturns and their potential impact on the construction industry.

8. Intangible Assets:

• Intellectual Property: If the company has unique technologies or processes, these can add significant value.
• Brand Value: A strong and reputable brand can influence the company’s value.

9. Comparable Company Analysis (CCA) and Precedent Transactions:

• Comparisons: Similar past acquisitions and companies in the same industry are analyzed to assess the reasonableness of the proposed valuation.

10. Discounted Cash Flow (DCF) Analysis:

• Future Cash Flows: Projected future cash flows are discounted to present value, considering the time value of money and the company’s risk profile.

11. Due Diligence:

• Thorough Investigation: Detailed due diligence is conducted to verify all financial, legal, and operational aspects of the company.

12. Synergies and Strategic Fit:

• Synergies: If the acquisition provides synergistic benefits (cost savings, revenue enhancement), these are factored into the valuation.
• Strategic Fit: How well the acquisition aligns with the acquiring company's long-term goals and strategies.

13. Negotiation:

• Negotiating Power: The final price often depends on the negotiation skills and leverage of the parties involved.
• Construction companies are often valued based on a combination of these factors, and the specific weighting of these factors can vary based on the circumstances of the acquisition and the preferences of the parties involved. Consulting with financial experts and conducting thorough due diligence are essential steps in the valuation process.

[Stadtplan]

[Austin55]

Eastchase has broken ground officially: https://rebusinesson...-in-fort-worth/

[Stadtplan]

Eastchase has broken ground officially: https://rebusinesson...-in-fort-worth/

 

From a drive by this weekend.  (These are facing north along Ederville Rd. pointed towards I-30)  A lot more hill involved here than I had originally expected.

 

 

5G tower nearby, should have good cell signal here.

 

 

[FortWorthian]

new rendering from the developer / builder:

[steave]

That actually looks really nice.