BMC recently unearthed a Washington Post from December 8, 1940, reporting on the the development progress of Lyon Village Apartments. The project was estimated to cost $5 million, which is equivalent to over $120 million in today’s dollars. The developer, Frank Lyon, is the great-grandfather of BMC’s president Chris Jones. Mr. Lyon was one of the first developers to subdivide land in Arlington, VA and built hundreds of homes from the late 1800’s onwards, including the majority of the Lyon Village Neighborhood. See the original clipping as well as a transcript below.
$5,000,000 Lyon Project Is Progressing
2d Apartment Unit In Arlington Area Reported Completed
Lyon, Inc. has completed the second building in its apartment development in Arlington County, VA.
This project which, it is announced, will cost $5,000,000 when completed, is on Lee Highway, a mile from Key Bridge, driving time from downtown Washington being less than 10 minutes.
A large section in the center of Lyon Village has been set aside for use as a complete shopping center, and space around the buildings allotted as parking area for residents.
Buildings Nos. 3 and 4 have been under construction for several weeks and are expected to be finished by spring. Following completion of these units, work will start on the shopping center. All buildings will be constructed of steel and concrete and adhere to a Colonial type of architecture.
The building firm, developer of one of the first and oldest individual communities, Lyon Village, has been a real estate agent and builder for more than 45 years. All of this background has been valuable in the careful planning of the apartment development which will have the same name, Lyon Village. During its experience in Arlington County, the firm has developed more than a square mile, or nearly one twentieth of the county. In that time it has built and sold more than 300 houses.
The apartment development offers large rooms with newest conveniences. On a bus line it has a convenient location.