Crescent Park Condos Ready for Construction

An $11 million condominium project in Eureka Springs is ready to move forward with construction as soon as approval is gained from planning and historic district commissions.

It’s 40 condos in 19 buildings and sits on 11.06 acres adjacent to the historic Crescent Hotel and Spa. The entire complex will be known as Crescent Park Resort, Hotel and Condominiums.

David McKee, who studied under world-renowned architect E. Faye Jones, is the architect for the project. The Crescent is currently interviewing banks, general contractors and engineers for the project.

“It’s very much in the spirit of Faye Jones and started before Faye Jones past away,” said Jack Moyer, Crescent vice president of operations and development. “He makes a point that you build and develop with quality. That’s part of the sizzle here.”

That’s also why the 975 to1325-SF condos are estimated to be in the luxurious price range of $300,000 to $350,000. The majority of the units will feature two bedrooms and two baths.

Completion of the project hinges on how quick the property is sold, and Moyer expects 40 to 50 under contract within six months to a year from the opening of the sales office on Nov. 1.

The developers studied several similar projects in various locations, including James at the Mill in Johnson and Branson Landing in Branson, Mo.

“James Lambeth went for years trying to make a profit at the Mill and was unsuccessful until he added on a new wing, and it became wildly popular,” Moyer said. “And Branson pre-sold in about three weeks, so we hope for that kind of success.”

Part of the lure of the condos is the potential revenue for owners who can lease out their unit while its unoccupied. Many homes in Eureka Springs are occupied on a part-time basis.

The Crescent Hotel was built in 1886. It has been owned by Martin and Elise Roenigk since 1997.