RyanCos. begins construction of Chicago community – Multifamily Real Estate News
RyanCos. US Inc. paved the way for Vyne on Haven, a 200-unit transit-focused apartment community in downtown Elmhurst, Illinois, designed to meet pent-up demand for TOD living in the western suburbs from Chicago. The six-story, 320,000 square foot building is expected to be completed in 2024.
Representatives of Ryan, a national provider of commercial real estate solutions, were joined by financial partners MetLife Investment Management and Regions Financial Corp.as well as officials from the town of Elmhurst at the groundbreaking.
Ryan is the developer and general contractor for the project and will manage the property. The building at 102 Haven Road is designed by Ryan A+E Inc.
Toby Veit, vice president of real estate development for Ryan Cos., said in a prepared statement that the property will appeal to young professionals looking for an easy commute to downtown Chicago and empty nests looking for a walkable, maintenance-free lifestyle. The building will be located within walking distance of restaurants, nightlife and the Metra train station.
Vyne on Haven will have 40 studios, 103 one-bedroom and one-bedroom plus den, 48 two-bedroom and nine three-bedroom units ranging in size from 600 to 1,500 square feet. The residences will feature modern kitchens with quartz countertops, tile backsplashes, islands and energy-efficient stainless steel appliances, as well as wood-style plank floors, walk-in closets and laundry in the unit. Balconies and private rooftop terraces will be available in some units.
Amenities will include a 13,000 square foot outdoor entertaining terrace on the second level with a resort-style pool, shaded cabanas, dining areas, grilling stations, outdoor heaters, a secondary terrace for resident relaxation, a living room in the sky on the sixth floor with a fireplace, resident games and kitchen area for private parties. The property will also have a terrace with views of downtown Chicago, a fitness center, a club room, a coworking space, a conference room and two private telephone rooms adjacent to a kitchenette/café. Vyne on Haven will have a dog spa adjacent to a large outdoor dog park, a bike shed with repair station and storage for 62 bikes, and two levels of parking with 234 residential spaces.
RyanCos. has recently been active in the senior housing sector. Last week, a partnership between Ryan Cos., LCS and Harrison Street Real Estate Capital kicked off at Clarendale West End, a 172-unit, 261,000 square foot upscale senior living community in Nashville, Tennessee. The community, which will have , assisted living and memory care units, is expected to be delivered in the fall of 2023.
In March, Ryan Cos. began construction on Acoya South Bay, a 158-unit luxury senior housing project in Torrance, California, which is being developed in partnership with Cadence Living and Harrison Street.