TynanGroup, a Santa Barbara-based real estate project management and development services firm, is now 100% employee-owned under its employee stock ownership plan (ESOP).

This transition is a milestone for the company, which was founded in Santa Barbara in 1991 and has pioneered development for some of the world’s leading hospitality brands, TynanGroup said.

TynanGroup is currently managing the construction of the Santa Barbara Police Department and Santa Barbara County Probation Department headquarters.

TynanGroup’s past local projects include the Santa Barbara Zoo, Music Academy of the West, Ritz-Carlton Bacara Resort, Hotel Californian, the Kimpton Canary, and Rosewood Miramar Beach.

“The ESOP secures the future of our firm and gives our employees ownership in the exciting growth we have planned in the years to come,” said CEO John Tynan, who will be joined by president Brian Nystuen and CFO Dave O’Dell on the ESOP’s Board of Directors.

“After exploring multiple options for succession planning, we found that the ESOP most closely reflects TynanGroup’s values of an employee-centric organization,” said Tynan.

“Our people are at the center of what we do, and the ESOP ensures that they share in the financial success of the business and their hard work,” he said.

TynanGroup has offices in Santa Barbara, and Newport Beach, California, and Tempe, Arizona, and is hiring in each region.