Ryan Cos. Begins Construction of Chicago Community
The 320,000-square-foot building is slated for completion in 2024.
Ryan Cos. US Inc. has broken ground on Vyne on Haven, a 200-unit, transit-oriented apartment community in downtown Elmhurst, Ill., that is designed to meet pent-up demand for TOD living in Chicago’s western suburbs. The six-story, 320,000-square-foot building is slated for completion in 2024.
Representatives from Ryan, a national commercial real estate solutions provider, were joined by financial partners MetLife Investment Management and Regions Financial Corp., as well as Elmhurst city officials 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 the property will appeal to young professionals seeking an easy commute to downtown Chicago and empty nesters in search of a walkable, maintenance-free lifestyle. The building will be located just steps from restaurants, nightlife and the Metra rail 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 along with wood-style plank flooring, walk-in closets and in-unit laundry. Walk-out balconies and private rooftop decks will be available in select units.
Amenities will include a 13,000-square-foot outdoor entertaining deck on the second level with a resort-style pool, shade cabanas, dining areas, grilling stations, outdoor heaters, a secondary deck for resident relaxation, a sixth-floor sky lounge with a fireplace, resident games and kitchen area for private parties. The property will also have a terrace providing views of downtown Chicago, a fitness center, clubroom, coworking space, a conference room and two private phone rooms adjacent to a kitchenette/café. Vyne on Haven will have a dog spa adjacent to a large outdoor dog run, a bike room with repair station and storage for 62 bicycles and two levels of parking with 234 residential spaces.
Ryan Cos. has been active recently in the senior housing sector. Last week, a partnership between Ryan Cos., LCS and Harrison Street Real Estate Capital broke ground on Clarendale West End, a 172-unit, 261,000-square-foot upscale senior living community in Nashville, Tenn. The community, which will have independent, assisted living and memory care units, is slated for delivery in fall 2023.
In March, Ryan Cos. began construction of Acoya South Bay, a 158-unit luxury senior housing project in Torrance, Calif., that is being developed in partnership with Cadence Living and Harrison Street.