Lindsey Planning Links-Type Project (Real Deals)

Jim Lindsey, through his The Links at Fayetteville LP entity, recently purchased about 153 acres off Rupple Road in west Fayetteville for a combined $10 million in two separate land deals.
Lindsey paid CB Ventures LLC of Fayetteville $7.71 million for the first parcel on a warranty deed that was signed on Oct. 24. He paid Nock Investments LLC of Fayetteville $2.35 million for the second piece of property on a warranty deed signed on Oct. 26.
Both purchases were partially financed by a $9.06 million loan from Chambers Bank of North Arkansas.
Both deals were closed by Realty Title & Closing Services of Fayetteville, which is owned by the Lindsey family.
Lindsey is planning a large-scale development on the property and is in the process of getting plans approved by the City of Fayetteville.
Site plans are in the preliminary stages, but the project will likely include a multi-family development surrounding a nine-hole golf course, similar to other apartment projects, such as The Links at Lowell, that have been developed and maintained by Lindsey Management Co. of Fayetteville.
Members of CB Ventures are Robert Smith, John Chambers and Barber Properties LLC, which is headed by Brandon Barber.
John Nock is the lone member of Nock Investments.
Zion Holdings Breaks Ground on Timberlake
Jeff Martin and Mike Phillips, through their Zion Holdings LLC of Fayetteville entity, have broken ground on a office project that will be valued at about $7 million upon completion.
Timberlake Office Park is located behind Lowe’s on the north side of Zion Road. The project sits on 16 acres that was purchased three months ago from Margaret Blair for about $2.5 million.
WACO Title Co. of Fayetteville closed the land sale.
Financing for the entire project is through First Security Bank of Searcy. Zion Holdings recently obtained a $4.44 million loan from First Security in relation to the project.
Timberlake includes 18 Class A lots, three of which are already sold. Prices for the lots range from $220,000 to $850,000 and some include views of the Lake Fayetteville spillway. There are both single-story and two-story plans available.
Plans also call for the construction of trails on the property that will link to the City of Fayetteville’s trail system.
Phillip Martin Development Partners of Fayetteville is serving as the general contractor for construction, but anyone who buys a lot can use their own contractor if they want. Offices can range from 5,000 SF to 25,000 SF.
Miller Boskus Lack Architects PA of Fayetteville is the architect while Freeland-Kaufman & Freeden of Bentonville is the engineer.
Phillips, who is realtor and owner of Remax Partners of Fayetteville, is the primary listing agent.
All of the infrastructure work is scheduled to be completed in February.
Nock Starts Quarry Trace
John Nock, though his Nock Investments LLC of Fayetteville entity, is developing a new subdivision in east Fayetteville that is valued at about $5.7 million for the lots alone.
Quarry Trace, which gets its name from an old quarry on the north end of the property, includes 100 lots on 40 acres off Arkansas Highway 16 East.
First National Bank of Fort Smith is financing the project.
Each lot has been appraised at $57,000, but preselling has not started and no listing agent has been selected.
Homes built in the subdivision will range in size from 1,700 SF to 1,800 SF and cost from $150,000 to $200,000, depending on upgrades and amenities. Most will be three bedrooms with two baths, although there are two- and four-bedroom plans available.
The subdivision will include a clubhouse with a pool.
Critical Path Construction Management of Fayetteville is the general contractor.
Nock Developments of Fayetteville is serving as the architect while Milholland Engineering & Surveying of Fayetteville is the engineer.
Infrastrcuture for the subdivision is scheduled for completion by the end of the year.
Elegant Homes Selling Char-Lou
During the last week of October, Elegant Homes & Design of the Ozarks LLC of Fayetteville closed on seven homes totaling $1.92 million in Phase I of the Char-Lou Estates subdivision in north Centerton.
Levi Kincaid paid Elegant Homes $322,000 for Lot 45 on a warranty deed signed Oct. 24.
Phil Hakken paid Elegant Homes $267,000 for Lot 49 on a warranty deed signed Oct. 27
Jennifer and Dexter Morgan paid Elegant Homes $267,000 for Lot 44 on a warranty deed signed Oct. 24.
Kristine and David Alford paid Elegant Homes $267,000 for Lot 53 on a warranty deed signed Oct. 24.
Alysha and Torrance Townsend paid Elegant Homes $267,000 for Lot 50 on a warranty deed signed Oct. 24.
Carroll Arnold Jr. and Patricia Arnold paid Elegant Homes $267,000 for Lot 61 on a warranty deed signed Oct. 26.
Shawna and Dave Steele paid Elegant Homes $267,000 for Lot 58 on a warranty deed signed Oct. 26.
Cave Creek Construction of Bentonville was the builder and Bailey’s Electrical Contracting Inc. of Rogers was the electrical engineer.
Homes in the subdivision are listed by The Real Estate Company LLC, which is based in Springfield, Mo., and has an office in Bentonville. The company, which is one of many with homes for sale in Char-Lou, still has 22 homes listed for sale in the subdivision.
Mill to Undergo Major Renovations
Miles James, through his MC James LLC of Fayetteville entity, recently obtained two loans totaling $1.8 million to renovate both the James at the Mill restaurant and The Inn at the Mill in Johnson.
Financing is being provided by ANB Financial N.A. of Bentonville.
Renovations include work to the exterior and interior. It will reduce the number of rooms at the Inn from 48 to 47 as plans call for the expansion of the laundry room.
Upgrades in the rooms include custom-designed furniture from Thailand and Filli-Dora sheets from Italy. Other additions include LCD TVs, mini-bars, granite vanities and tile on the bathroom floors.
The eight suites will all be upgraded with new beds and special amenities.
As for the exterior, James said the remodeling will keep the historical nature of the building intact while trying to respect the original design created by the late James Lambeth.
Hun-Bae Im, who studied under Lambeth and is a principal at James Lambeth Inc., is serving as the architect.
There also will be expanded breakfast offerings and wine and cheese available at the restaurant at 5 p.m. each day. The restaurant also will have 24-hour room service, with a limited menu after hours.
All the renovations will allow the Mill to be the first in the state to become a member of Small Luxury Hotels of the World.
Rates for the rooms currently range from $100 to $150 per night, but the additions will increase rates to $150 to $300. James said packages, that include green fees at nearby Blessings Golf Club, are being formulated.
All of the renovations are part of Phase I and are expected to be completed in April. Phase II, which will cost about $3 million, will begin about six months after Phase I is completed. It will include 14 new rooms and 12,000 SF of expansion, which will include a 3,500-SF spa.
Family Buys Bethel Lots
The family team of Bernice Mathias, Mia Bryant and Norman Moulden paid Bethel Heights Townhomes LLC of Mayfield $986,000 for 33 lots in the Terry Acres Subdivision in Bethel Heights on a warranty deed signed Oct. 23.
Heritage Land Title of Arkansas in Fayetteville closed the sale.
Plans call for 33 duplexes on Lots 1 through 33 of Terry Acres. Each duplex will be 1,966 SF.
Financing for 15 of the duplexes is being provided by ANB Financial N.A. of Bentonville while the remainder will be financed by Metropolitan National Bank.
Moulden Construction of Springdale, which is owned by Moulden, is the general contractor and is using plans that were purchased for the architectural design.
All of the duplexes will have a mostly brick exterior with some vinyl siding and feature ceramic tile and upgraded appliances inside.
Casa Lider Realtors of Springdale will list the properties. The duplexes will be available to rent or purchase, but prices have not been formulated.
The project was started last month and most of the duplexes are scheduled for completion by the first of the year.