The $65 million project will feature three- and four-story buildings containing 188 apartments accessible by elevator and 36 three-story townhomes. Apex Construction is the general contractor.
Most of LYND’s recent development activities have been in its home state of Texas, but this project in Illinois signifies the kickoff of a broader strategy, the company says in a statement.
“LYND has always had a national reach in development, with successful projects in Miami, Chicago and Denver, but one of my goals has been to get us back to that national scope,” said CEO A. David Lynd. “With our new leadership team in place, the plan has already yielded some early results in Willow Springs. We expect more announcements in coming months that further this effort.”
The first unit deliveries are expected in 12 months, with the building scheduled to be completed in 24 months.
LYND LIVING says is a full-service real estate firm based in San Antonio that develops, acquires and manages multifamily properties, with 20,000 units under management in 11 states. Hinsdale, Illinois-based West Point Builders has been building communities throughout Chicagoland for the past six decades. LYND LIVING says it has more than $1 billion in its development pipeline nationwide.
“This is our first development deal together, but we are already teaming up to find new projects we can partner on in the near future,” said Anthony Tiritilli, LYND LIVING’S president of development, who has building background in Chicagoland. “West Point is one of the most respected builders in the metro area owned by very smart and capable people.”