Pinewoods to Be a Good Place for a Residential Development
by March 6, 2000 12:00 am 84 views
Gary Brandon Enterprises is spending $3.6 million to develop his Pinewoods Subdivision on Pinewoods Drive in Springdale. Springdale Bank & Trust Co. has supplied the financing with three loans issued between December and February.
The first was $600,000 to acquire in north Springdale the 57 acres that straddles Washington and Benton counties. The second, issued Jan. 25, was $2.6 million for the construction of the 114-lot subdivision that will include 100- by 130-foot lots and carry a minimum home-size requirement of 2,000 SF.
The development will feature a jogging trail, swimming pool and gazebo.
On Feb. 2, Brandon got another $350,000 in financing to acquire an adjacent 10-acre parcel just off 40th Street.
There are two homes on the property. The first, a 2,000-SF residence at 2123 Pinewoods Drive has already been sold. Brandon is still seeking a buyer for the 2,800-SF home at 2723 Pinewoods Drive.