JPI Begins Vertical Construction on The Exchange At Riverside

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Multifamily housing, pictured above, is becoming popular across Southern California, including in Riverside.
(Carolyn Franks/Carolyn Franks -
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JPI, a leader in the development of Class-A multifamily communities, announced this week that vertical construction has begun on “The Exchange at Riverside” which will bring 482 homes to the Inland Empire city. The milestone was celebrated at a Golden Hammer ceremony on the jobsite.

The three-story luxury multi-family development will offer 1-, 2-, and 3-bedroom homes to residents as well as several live/work units. The homes will offer energy-efficient, stainless-steel appliances and electric ranges, private tiered balconies, 9-foot ceilings, and a full-size washer and dryer.

Residents will also enjoy two resort-style pools accompanied by cabanas and outdoor firepits, an outdoor kitchen, coworking lounges, a state-of-the-art fitness center, a dog park, a bicycle storage and repair room, and electric vehicle charging stations.

“We are very blessed to be welcomed by the Riverside community and are excited about this project,” said Payton Mayes, CEO of JPI. “Every project has a story, and there are so many people who played a role in the story of The Exchange at Riverside. We are so grateful for each and every one of you, and are excited to see this project come to life.”

The Exchange at Riverside will provide convenient access to the award-winning downtown Riverside with the Fox Performing Arts Center, Convention Center, UCR Arts, Riverside Plaza, and Mission Inn & Spa. The Exchange at Riverside also offers outstanding access to education, as it is conveniently located close to the University of California, Riverside which boasts over 26,000 students.

Within one mile of The Exchange at Riverside lies the historical 209-acre Fairmount Park which includes Lake Evans, Fairmount Lake, and Fairmount Park Golf Course. Also, within two miles of the community sits Mount Rubidoux, a 161-acre hill rising above downtown with hiking trails and panoramic views of the city, and the Santa Ana River trail, which is currently being expanded to reach 110 miles from the Pacific Ocean to the mountains in San Bernardino.

The community will be ideal for commuters, with the Riverside Metrolink Station located two miles southwest of the property. The train system provides access to various regional destinations like downtown Los Angeles and Irvine in less than 90 minutes. The office for the County of Riverside, the largest employer in the county, is also located 1.5 miles from the community.

“This project means so much to the Northside neighborhood,” said Erin Edwards, Councilmember of Ward 1. “I am thrilled that we can celebrate new housing opportunities here in our city. Adding 482 units to our housing inventory does more than just help us reach our housing goals, it shows we have a growing community where neighborhoods can thrive. I look forward to welcoming my neighbors to the community when it’s complete.”

First occupancy for The Exchange at Riverside is planned for late 2024.