Creating a construction arm in-house makes perfect sense for the longtime Dallas development firm as it expands its long-term hold strategy for its multifamily properties, said Lucy Billingsley, a partner at the Dallas-based firm.
"We have wanted to bring our construction in house for some time, but waited to get a great leader," said Billingsley, who added Billingsley Co. plans to developer more than 22,000 apartments between Cypress Waters and Austin Ranch, which are two large projects in various stages of development.
The firm has named Brian Maynor as the leader of Billingsley Construction Inc., who will oversee Billingsley's apartment construction in North Texas.
The developer has also started on the initial phase of a 2,000-unit Lake District community in Austin Ranch. The initial phase of 525 apartments is scheduled for completion in October.