Synergy Construction & Development Company has broken ground on Yorktown Reserve, a luxury multifamily residential complex with 600 units and a 2-acre green space and park at Yorktown Shopping Center in Lombard, Illinois.
Design Partners on the project include architects Ware Malcomb and civil engineers V3. Financing partners include CIBC Bank, Republic Bank and Fidelity Investments
Yorktown Reserve is a welcome addition to the continuing renaissance of Yorktown Shopping Center. Pacific Retail Capital Partners leasing has been booming, with recent announcements of new restaurants like Empire Burger, Ancho and Agave, Dave & Buster, and a new Fresh Market grocery store opening soon.
Synergy is also pursuing similar projects at Woodfield Mall in Schaumburg and at a former Sears store in Ft. Myers, Florida as well as luxury multifamily developments in Chicago suburbs like Winfield, Mundelein, Lisle, Warrenville, Itasca, Hanover Park, and Hoffman Estates.
Synergy Construction & Development Company first proposed redeveloping the former Carson’s parcel in 2022 and was met with enthusiastic support from the Village of Lombard and Pacific Retail, owner of Yorktown Shopping Center. The Village supported financing of the project with municipal incentives like Tax Increment Financing (TIF).
As the owner, developer, and general contractor of the project, Synergy Construction & Development Company is leveraging its vertical integration of the real estate development process to make the vision of Yorktown Reserve a success.
Leveraging its proven track record of successful multifamily projects, Synergy secured $92 million Phase 1 financing through CIBC Bank, Republic Bank and Fidelity Investments, with Frank Montalto, IPA, playing a key role in financing the project.
The Yorktown Reserve luxury multifamily development is expected to take 18 months to complete, with leasing set to begin in Spring 2026.
