(Read more on the multifamily market.)

HINSDALE, IL-Construction is starting on the 12-acre Hamptons of Hinsdale, a condominium and townhouse development being developed by GSH Development, based here. Klein Construction Services Inc., based in Burr Ridge, is the general contractor for the three-phase project, and recently started construction on the first phase of the development, which is at 5711 S. Grant St. The $65-million to $70-million project will have 93 condominium units and 26 townhouses.

The first phase will have two townhouse buildings and a condominium building. The development, when completed, will be a total of four 50,000-sf, condominium, four-story buildings and six townhouse, three-story structures ranging in size from 12,000 sf to 18,000 sf. The condominium units will range in size from 1,200 sf and 2,200 sf and the townhouse units will range in size from 2,200 sf and 2,800 sf with prices for the units ranging from $445,000 to $845,000.

The property near Hinsdale Central High School was previously the site of 22 apartment buildings which were demolished to make way for the development, says Wayne Klein, president of Klein. The Hamptons of Hinsdale is geared to “the empty nester or somebody who is trying to get the children into the school district without paying $1.5 million or $2 million for a house,” he says.

There will be two condominium buildings and one townhouse building constructed in the second phase of the project and three townhouse buildings and one condominium structure built in the third phase. Construction on the second phase is expected to begin in the spring of 2008 with construction on the final phase expected to begin in the spring of 2009, Klein says. The final phase of the development is expected to be complete in the spring of 2010, he says. BSB Design is the architect for the project.

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