Dallas-based apartment developer JPI has announced that Jay Parsons is joining the firm in a part-time role as an economic advisor, according to a Feb. 6 news release shared with Multifamily Dive.
The former reporter at the Dallas Morning News has spent the past 16 years in the apartment industry, holding executive and senior leadership roles at Madera Residential for one year and RealPage for 15 years.
Parsons will be responsible for analyzing economic trends and market dynamics to provide JPI with a sharper strategic edge, enabling it to better drive data-informed decisions, according to the release. Payton Mayes, CEO of JPI, said Parsons’ ability to translate complex trends into actionable strategies will be invaluable to the firm.
Parsons, who hosts The Rent Roll podcast and produces the Rental Housing Economics newsletter, has helped shape investment strategies, market research and housing policy while advising institutional investors, REITs, government agencies and non-profits during his career.
"Jay brings more than economic expertise — he brings a profound understanding of the intricate dynamics that drive the rental housing market," said JPI Chief Financial and Investment Officer Mollie Fadule in the news release. "His ability to integrate data with strategic vision will enhance JPI’s approach to navigating the complexities of today’s multifamily housing landscape.”
Parsons also serves on the board of advisors for Apartment Life, a faith-based non-profit dedicated to enhancing the experience of apartment residents and operators.
Last month, JPI and Seattle-based real estate investor Pinnacle Partners announced the launch of a $200 million workforce housing fund to develop mixed-income communities with a restricted rent component.
“We’re at a critical inflection point in the multifamily development business, and JPI’s leadership team impressed me with their innovative approach to delivering apartment communities more efficiently and expeditiously — while maintaining or enhancing quality — to the benefit of cities, renters and investors alike,” Parsons said in the release.
Parsons’ announcement comes a day after JPI’s former chief visionary officer, Scott Turner, was confirmed by the Senate as the secretary of HUD.
Turner worked in the first Trump White House, where he helped establish Opportunity Zones, an economic development tool created under the Tax Cuts and Jobs Act of 2017 that allows people to invest in distressed areas in the U.S.
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