The Orchard Planned
A $1.2 million mortgage from Springdale Bank & Trust will be used to finance construction of a subdivision at the corner of Elm Springs Road and 40th Street in Springdale.
One Springdale Inc. received the mortgage on April 16. The loan is secured with 42 acres at the intersection.
The mortgage was signed by Philip Taldo as president of the company and Gary Griffin as secretary and treasurer. Taldo and Griffin also are brokers and owners of The Griffin Company Realtors in Springdale.
The 120-lot subdivision will be known as The Orchard, and construction is scheduled to start within 30 days. Houses in the development will range in price from $75,000 to $90,000.
Included in the development is a 13-acre commercial area. Homestyle Residential Care, a 40-unit assisted care facility, already is planned for the commercial site.