Posted Feb 26, 2017, 5:07 PM
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Join Date: Sep 2002
Location: Chicago
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http://www.chicagobusiness.com/reale...y-daughter-son
February 23, 2017
Architect, developer David Hovey hands the reins to his kids
By DENNIS RODKIN
Quote:
David Hovey, a rare triple-threat architect, developer and builder who's behind thousands of residential units in Chicago and the suburbs, is passing the torch to two of his kids after 40 years in the business.
"I'm stepping aside, but I'm not stepping out of the company," said Hovey, the 72-year-old CEO of Optima, the Glencoe-based firm he and wife Eileen launched in 1977 with a six-unit townhouse project in Hyde Park. He was the architect, developer and builder; she handled sales. In the decades since, they've built nearly 3,400 condos, apartments and townhouses in Evanston, Wilmette, Oak Park and other suburbs, as well as in Streeterville, plus another 2,500 units in Arizona.
The couple's daughter Tara is taking the title of chief operating officer and will run the privately held company. Their son, also an architect and also named David, is president of Optima Holdings and will collaborate with his father on architectural design work.
"This is a process that we started talking about in 2012," said Tara Hovey, 34. She has an MBA from the Wharton School of the University of Pennsylvania and has worked in several roles at her parents' firm, as well as in the real estate finance industry in New York. She will take the reins of the firm's projects, including the 56-story rental tower at 220 E. Illinois St. that is nearly complete, and a pair of buildings—one condos, the other apartments—under construction in Phoenix.
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