In the early 1970s the family ranch struggled because of high taxes, and Carpenter found it difficult to continue in the cattle business. In 1971 they merged the insurance operation with Southland Financial and took the company public.
Williams, pursued the real estate business through Southland Financial Company and added significant acreage to Hackberry.
In addition to insurance and cattle, Ben Carpenter, along with his brother-in-law Dan C. Carpenter, became an executive at Texas Power and Light Company, then assumed the chairmanship of Southland in 1959 when John Carpenter died. His real estate activities included the 1928 purchase of 200 acres in Irving for a family estate, which Carpenter named Hackberry Creek Ranch. A hundred years earlier the family had become involved in the cattle business, then in 1927 John Carpenter, Sr., moved into the insurance industry, establishing Southland Life Insurance Co. JPI was originally formed in 1976 as Jefferson Properties, Inc., a subsidiary of Southland Financial, a business founded by the Carpenter family of Dallas, Texas, one of the city's original business dynasties. Hunt Realty Corporation is a major investor in JPI, as is GE Capital Services.įounding Family Made 19th-Century Fortune in Cattle Based in Irving, Texas, the company also manages some 24,000 apartments located in 12 states and is involved in building student housing, both on campus and off. developer of luxury apartments, many of which are a cross between an upscale house and a fine hotel, offering amenities including garages, "urban vegetable gardens," marble entryways, high ceilings and spacious rooms, fitness centers, 24-hour concierge services, and high-tech gadgetry such as broadband Internet access, theater-quality sound in living rooms, and closed circuit television that allows tenants to monitor gates, swimming pools, and play areas.
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