Springdale Subdivision Financed

by Talk Business & Politics ([email protected]) 63 views 

A $686,000 loan from McIlroy Bank & Trust of Fayetteville was used to purchase 45 lots in the Central Village subdivision across from Central Junior High School in Springdale.

The loan was given to Birddog Development LLC on June 9. Tom Terminella signed the mortgage as president of the company.

The lots were bought from Central Village Inc. of Springdale. Dan Dykema signed the warranty deed as president of the company. Central Village Inc. retained ownership of the remaining 43 lots.

Plans for the development include 98 homes that will be built in the 22-acre subdivision during the next 18 months. All the lots have been sold and 28 homes are under construction. All the homes will range in prices from $68,900 to $75,900.