Wednesday, June 11, 2014

Billingsley Co. forms new construction company to build 3,000 new DFW apartments

Cypress Waters  JLD 7901

Dallas-based development firm Billingsley Co. has formed a new corporate affiliate, Billinglsey Construction Inc., to develop more than 3,000 apartments in Dallas-Fort Worth in the next two years.

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.
Maynor, who has more than 14 years of construction experience, has worked for large developers such as JPI and Alliance Residential. He plans to recruit a team of 15 to 25 employees for the new office and field work.

Right now, Billingsley is underway on 106 new townhomes for the 1,000-acre Cypress Waters development, which are expected to be finished by the end of the year.

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.

Candace Carlisle- Dallas Business Journal