William Lyon’s life is notable both for his military service and for building homes for thousands of residents in Orange County over more than six decades. Here are some highlights.
1943: Lyon enlists as a reservist in US Army Air Corps.
1944: He is promoted to flight officer.
World War II: At first, Lyon is assigned to the 6th Ferrying Group. He ferries aircraft to Pacific and European theaters.
1945: He is assigned to Air Transport Command (North African Division).
1946: Lyon returns to U.S.
1953: He volunteers for the Korean War. Flies 75 combat missions in C-46s and C-47s.
1954: Lyon and brother, Leon, found Luxury Homes in Fullerton.
1968: Lyons sell Luxury Homes to American Standard and becomes vice president in charge of their real estate division.
1971: Lyon repurchases American Standard’s California assets and started what became The William Lyon Co. in Newport Beach.
1971, Aug. 14: William and Willa Dean Lyon wed.
1974: Lyon promoted to Major General.
1975: Lyon ordered to active duty to serve as chief of Air Force Reserve in Washington D.C.
1981: Lyon and developer George Argyros pay $62 million for AirCal, a troubled regional airline. Five years later, they sell it for $225 million.
1987: Lyon buys Newport’s Presley Development.
1990s: His company is hit hard by downturn.
1992: He starts William Lyon Homes.
1999: Lyon combines William Lyon and Presley creating the modern William Lyon Homes.
2002-2005: Company prospers in the housing boom.
2006: Lyon pays an initial $187 million to take William Lyon Homes private. The full price tag is estimated at about $275 million.
2008, Nov, 4: William Lyon Homes reports $41 million loss for the third quarter, down from $60 million a year earlier.
2011, November: William Lyon Homes announces plans to file a “prepackaged Chapter 11 bankruptcy” that gives control of the family-owned developer to a New York hedge fund.
2013, March: William Lyon steps down as CEO, assuming the newly created title of executive chairman. His son, Bill H. Lyon, succeeds him as CEO.
2013, April: William Lyon Homes files to goes public again.
2014, May: Builder Magazine inducts William Lyon into its Builder Hall of Fame.
2017, February: William Lyon steps down from the board of directors.
2020, May 22: William Lyon dies at his home in Coto de Caza.
