TWG, a national real estate development company specializing in commercial, market rate, affordable and senior housing developments, today announces the development of McDowell Point, a new $62.38 million active adult community in Naperville, Illinois. This will be TWG’s first development in the greater Chicago area, as well as its first active adult project in the state of Illinois.
Located at 1420 West Diehl Road, the new 347,000-square-foot, five-story residential development will include 174 units ranging from one- to three-bedroom apartments. As an active adult living community, McDowell Point will reserve 80% of its units for tenants ages 55 and older. This will be TWG’s first development of this kind in the state of Illinois, after developing more than two dozen senior living communities throughout the Midwest.
“With a growing older adult community across Chicagoland, there’s a demand for high-quality active adult housing, especially in the Midwest, and we believe McDowell Point will fill this void,” said J.B. Curry, Vice President of Market Rate Development at TWG. “This development allows existing Naperville residents to downsize, while still maintaining a home in the area with the high-end market quality finishes, ample amenities and unmatched access and proximity to the McDowell Grove Forest Preserve.”
McDowell Point will give the Naperville community more housing options for those outside the traditional “senior” age. The new development will provide amenities designed for the empty-nester lifestyle, featuring more than 6,000-square-feet of amenity space. A second floor courtyard will include a pool and hot tub, yoga lawn and grilling stations for tenants. With resort-style community space, the development is unmatched in style, quality and size for residents and guests. The property will featurea range of daily scheduled activities to make residents feel connected and invested in their neighbors, such as book clubs, exercise classes, group hikes at the nature preserve, and more.
Immediately adjacent to large nature presence McDowell Grove, the McDowell Point will be less than a mile away from major shopping, restaurants and entertainment centers, and three miles away from the historic downtown Naperville. Construction will begin June 2021 and is set to be completed June 2023.