Partnership to Build New Springdale Apartments

Orchard Grows More Apartments

One Springdale Inc., a partnership between Phillip Taldo and Gary Griffin of Griffin Company Realtors recently purchased a building permit valued at $764,000 to build apartments at 2321 Orchard St., in Springdale. Pianalto Construction Inc. is the general contractor. ESI of Springdale is the lead engineer.

The four buildings will house 64 units. Forty-eight units will be 950 SF with two bedrooms and two full bathrooms. A work-out facility and manager will be on-site, as well as a park and picnic area. Sixteen units will be 750 SF with two bedrooms and one and a half bathrooms.

Arvest Bank-Springdale is financing the project. The apartments are expected to be valued at $3.8 million. They are part of a 40-acre project that consists of residential and commercial property including 30 town-home units and a subdivision.

The development is located off U.S. Highway 412 East between Butterfield Coach Road and Arkansas Highway 265. One Springdale Inc. began the development in 1997. Ten more townhouse units valued at $600,000 are under construction and will be complete in two months. Rent will start at $600 for the upscale apartments.

Eldridge Edges Toward Condos

Renovation continues on the old savings and loan building at 201 N. East Ave. in Fayetteville. John Eldridge is the sole developer of the building that is being renovated into five condo units. Eldridge has owned the building, which also houses his law office, since 1993.

Cromwell Architects Engineers of Fayetteville is the architect, and Jim Burke is the structural engineer. The five residential units start at 2,300 SF and will be priced from $185 per SF unfinished.

About 15,000 SF of condo space is available, bringing the selling value of the project up to at least $2.7 million. The common areas will have the original marble from the savings and loan building. Common walls and utility hook-ups will be provided with purchase.

Bank of Augusta is financing the project.

The lower floor of the building will house Eldridge’s law office and a gym/workout facility. Eldridge will also be building a residential unit of his own there. Covered parking will be included with the condos on the west side of the building in addition to gated entry and exit with an iron perimeter fence and restricted access gates. The units are expected to be complete in 180 days with construction beginning on the first two units by the end of 2003.

Mardis Makes Condos Concrete

Tommy Mardis of Mardis Investments Inc. recently purchased 32 building permits at a combined value of $2.5 million to build condominiums near the northwest corner of Olive Street and Dixieland Road on North 19th and 20th streets in Rogers.

Sagely Construction of Rogers is the general contractor, and W.R. Consulting of Bentonville is the lead engineer.

There will be 32 units in four eight-plex buildings. The 1,570-SF condos will be two-bedroom, three-baths units with an attached two-car garage and will lease from $700 per month unfurnished. The street will be privately maintained. The condos will be the same design as those at the nearby Park Place condominiums, units that Mardis has owned since 2000 under Mardis Properties LLC.

Construction costs for the project with improvements were $1.7 million with $750,000 going to land improvements. Mardis bought the five acres for the condos for $350,000 from Crossroads Properties Inc. in January 2003. First Western Bank of Rogers financed the purchase and the project. The units will be available for lease beginning in January 2004.

Chelsea Crossing Shows on Walton

Construction continues on Chelsea Crossing, a two-building retail development at 2212 and 2210 S. Walton Blvd. The 22,000 SF of space will lease from $1.00-$1.10 per finished SF per month and is expected to be complete by Dec. 1.

Each building is nearly equal in size. Susana Development is the owner of the project and is leasing the space that was financed by Arvest Bank-Bentonville.

Susana Development consists of Verena Callis and others. Callis Construction of Rogers is the general contractor and also drew the architectural plans for the project. The expected value of the project is $2.3 million.

Sand Creek Engineering and Architecture Inc. of Bentonville is the lead engineer.

Crossland Continues Warehouse Work

Crossland Construction Inc. continues construction on a 100,000-SF warehouse at 2250 N. Eighth St. in Rogers. The warehouse is being developed by Rogers Warehouse LLC, which is a partnership of Crossland Construction and other silent partners. The warehouse sits on 10.5 acres owned by the development. Enough acreage exists for another warehouse.

Busey Schmidtberger Engineering LLC of Lenexa, Kan., was the lead engineer on the project. Perry Butcher & Associates of Rogers was the architect on the site development, and Harrison French Architecture of Bentonville was the architect for the building. The warehouse is valued at $1.9 million with building costs and will lease from $3.25 per SF annually. Arvest-Bank Rogers financed the project.

Elder Builds at Copper Creek

Elder Construction of Springdale recently bought two building permits at a combined value of $475,000 to build homes in the Copper Creek subdivision on the Springdale-Fayetteville city-limits line.

The homes at 3361 and 3403 E. Jasper Lane are priced at $225,000 and $250,000, respectively. The 207-lot subdivision off of Arkansas Highway 265 is being developed by Gary Brandon Enterprises Inc. of Springdale. Gary and Sherri Brandon are partners in the company.

Homes range from 2,700-4,000 SF and price from $300,000-$450,000 with lot prices from $47,000-$50,000. Most of the lots in phase one of the three-phase development have been sold. There are 81 lots in phase one, 81 lots in phase two and 45 in phase three. Gary Brandon expects to break ground on phase two in the next two months.

Gary Brandon Enterprises Inc. bought 40 acres for the development from Valerie Zamberetti for $650,000 in 2000 and the remaining 57 acres from George Anderson and Saralee Anderson for $1 million in 2003. First State Bank of Fayetteville financed the land purchase and development.

Copper Creek homes will range in style from old world and French country to traditional. The development will feature an outdoor pool and tennis courts. Five builders are the general contractors of Copper Creek: CNS Construction of Fayetteville, Elder Construction, Martin Custom Homes of Fayetteville, McMahon Brothers Custom Homes of Fayetteville and Knight Construction Inc. of Fayetteville.