Momentum Building for Downtown Springdale, Emma Avenue

A member of the Downtown Springdale Alliance, the nonprofit overseeing revitalization of the city’s long-neglected urban core, said Friday the groundbreaking on the city’s leg of the 36-mile Razorback Regional Greenway will take place May 23 at the intersection of Emma Avenue and Mill Street.

And if all goes to plan, a “major announcement” for another downtown project will be made at the same time.

Lisa Ray, president of Arvest Bank-Springdale and a member of the alliance’s executive committee, gushed with excitement Friday when asked about Springdale during an interview with the Northwest Arkansas Business Journal.

“Everything is coming together,” she said. “All the stars are aligned.”

Ray was asked about the recent news regarding the entire south side of the 200 block of East Emma — vacant buildings that housed Ryan’s Clothing and the San Jose Manor in the past — which is under contract by a single buyer, but said she was unsure who the buyer might be.

Ray, however, did speak to other speculation in Springdale — that Tyson Foods Inc. is looking to invest in or around the Emma Avenue area.

“The Downtown Springdale Alliance has had many, many conversations with Tyson, and they’re excited about revitalizing downtown,” Ray said.

According to real estate records on file with Washington County, Tyson already owns more than 5 acres along east Meadow Avenue, the street just south of Emma.

For a map of the area, click here.

About 4.5 acres of the Tyson property, a vacant poultry plant, has access and direct frontage along the banks of Spring Creek and the Greenway trail. An adjacent 1.5 acres, owned by Oklahoma-based D & M Liquid Feed Inc., is vacant, and according to a company spokesperson, is up for sale.

The Greenway is a 36-mile bike and pedestrian trail from Bella Vista to Fayetteville. With the exception of a few pieces here and there, the Springdale portions of the trail are the last to be built. In accordance with the scenic nature of the trail, Springdale is planning a complete overhaul of downtown which includes new green space, uncapping Spring Creek from Meadow to Johnson avenues, and a town square. According to the Springdale Downtown Revitalization Master Plan, public improvements could cost as much as $20 million.

The consensus among those familiar with the project is that public funds will be important, but in the end, private funds will decide if the project is a success.

While Ray would not speculate as to what might happen with the Tyson property, she did say a lot of things are taking place behind the scenes. She also said she has recently been bombarded with questions about the Apollo Theater at 308 W Emma Ave., which was recently saved from the wrecking ball and is currently on the market for $70,000.

And Tyson, Ray said, is not the only Springdale-based poultry processor interested in investing in downtown.

“The George family is also excited,” Ray said, noting that Carl George, co-CEO of George’s Inc., is chairman of the alliance’s executive committee, and that the George family recently awarded $1 million to the Jones Center Endowment Fund. Along with Parsons Stadium, the Jones Center is considered the eastern bookend of the Emma Avenue business district.

On April 28, news broke that Ryan’s and the San Jose were under contract with a single buyer. The properties, listed at a total price of $1.26 million, represent nearly 30,000 SF of commercial space. While speculation was rife at the time, more tangible information has since come to light regarding the offers.

The name and signature of Richard D. Chapman is on at least two purchase offers for properties located in downtown Springdale, and at least one of those signatures is for the San Jose building at 202 E. Emma Ave., according to sources. Sources say that Chapman represents an entity called Springdale Downtown LLC.

A phone call was not returned by Walton Enterprises, but Richard D. Chapman is the CFO of Walton Enterprises, and in that capacity, according to his biography, oversees all aspects of the Walton interests in Arkansas. It’s not known if the Chapman representing Springdale Downtown LLC is the same Chapman with Walton Enterprises. However, sources in downtown Springdale have hinted that Walton is the buyer of the two properties.

“I think you’re on the right track,” one source told the Business Journal, while another source, speaking to the possibility that a Walton interest had the contract on Ryan’s and the San Jose, said, “The Walton’s seem more likely for that property.”