Montgomery Starts Jamestown Project (Real Deals)

John Montgomery, through his Jamestown Health and Rehab LLC entity of Rogers, has started site work on a project that will be valued at more than $40 million upon completion.
The multi-use development is on 38 acres less than a mile east of Interstate 540 on New Hope Road. It will begin with Jamestown Nursing Home and Jamestown Assisted Living. Doctor’s offices, a pharmacy, small retail shops and possibly independent apartments will be added to what the developer described as an “upscale elderly community.”
Chris White is the loan officer. Simmons First Bank of Northwest Arkansas is financing the project.
The nursing home will be 65,000 SF with 110 beds while the assisted living center will be 40,000 SF with 60 beds.
Plans also call for 50,000 SF of retail/office space that will be anchored by a pharmacy and front New Hope Road. A chiropractic clinic and a spa have shown early interest.
Montgomery and his sons are serving as the general contractor. He has built 50 nursing home facilities in 20 years and owns nursing homes in Bentonville, Fort Smith and Rogers. The facility will be managed by Providence Healthcare Management LLC, which is owned by Montgomery.
Jerry Danehauer with United Country Ameripro Realty of Rogers will be the leasing agent for the commercial property.
Wayne Watson of Jordan & Associates in Fayetteville is the architect.
Freeland-Kauffman & Freeden Inc. of Rogers is the civil engineer.
The initial phases of the project are scheduled for completion in January 2008.
Schmitt Preserves Mixed Subdivision
Robert N. Schmitt, through his Hometown Development LTD entity of Fayetteville, has started site work on a residential project that will be valued at $11.6 million on completion.
The Preserve at Paddock, named so because it borders Mount Sequoyah’s reserve, is on 10 acres in southeast Fayetteville and will be a mix of townhouses and single-family homes.
Liberty Bank of Arkansas is financing the initial development, but a lender for the construction loan has not been selected.
The project includes 25 townhouses and 33 single-family homes. Sizes will range from 1,500 SF to 1,800 SF, and prices will range from $175,000 to $225,000. Amenities include custom cabinetry and granite counter tops.
A Realtor has not been selected to list the property.
Additional parking will be built on the north side of the project to help with parking for the preserve.
DMP Construction Inc. of Springdale is the general contractor.
Project Design Consultants of Cave Springs is the engineer.
The infrastructure work is scheduled for completion in June.
Sachs/Haynes Team Completes Purchase
Collins and Hunter Haynes and The Sachs Family of New York, through their Sachs/Haynes Development 2 LLC of Rogers, recently paid R. Steven Chastain and Jo Harris Chastain, trustees of the R. Steven Chastain Revocable Trust, $9.59 million for property in Rogers.
The purchase was for a 38.5-acre parcel on what is known as the Oliver Farm less than a mile northeast of Interstate 540 and the new five-lane 45th Street serpentines through the property.
Waco Title Co. of Rogers closed the sale.
Metropolitan National Bank financed the purchase.
Plans call for the land to be divided into 32 commercial lots ranging in size from 0.75 acres to 2 acres. There will be a mix of office and retail space.
Haynes & Associates Ltd. of Rogers, which is owned by Collins Haynes, is working with Ken Booth of Sand Creek Engineering & Landscape Architecture Inc. in Bentonville on developing the layout of the project.
Dean Crowder Construction Inc. of Bentonville is doing the site work.
Emback Adds To Nantucket
Thomas J. Emback, through his Nantucket Apartments III LP entity of Mountain Home, is starting construction on an addition to an existing project that will be valued at $4.04 million upon completion.
The third phase of Nantucket Apartments, located in south Fayetteville at 611 E. Nantucket Drive, will include 11 buildings with 42 apartments for senior citizens.
Arvest Bank-Springdale is financing $3.2 million for construction. Emback, who already owns the land, will handle additional costs.
The addition will be similar to the existing two phases, which include one-bedroom and two-bedroom independent living apartments and a community center.
Emback will serve as the general contractor.
William B. Anderson PA of North Little Rock is the architect.
No timetable was made available for completion of the project.
Selig Completes Commercial Buy
John and Helen Selig, through their Legis Co. entity of Hot Springs, and Giles Properties LP of Little Rock, recently paid Procon Inc. of Bella Vista $3.04 million for two commercial buildings in Bentonville.
The buildings are part of South Walton Plaza and are located at 109 and 113 SE 22nd St. Both 12,000-SF buildings are at 100 percent capacity with tenants on five-year leases and include primarily Wal-Mart Stores Inc. vendors. The purchase included about 1 acre of land.
Northwest Escrow Services Inc. closed the deal.
Simmons Bank of Northwest Arkansas financed the purchase.
Selig said the transaction was for investment purposes and that he has no plans of changing any part of the property.
John Burkhart, Edward Fox and Richard Werts are members of Procon.
Creekside Adds Taco Bell, KFC
John R. Meyers, though his Meyers Investments LLC entity of Fort Smith, recently paid BLB Holdings LLC of Springdale $1.41 million for commercial property in Rogers.
The parcel is Tract 2A of Phase II of the Creekside subdivision, located east of the Interstate 540/New Hope Road intersection and north of the Pinnacle Promenade mall.
Plans call for the construction of Kentucky Fried Chicken and Taco Bell restaurants on the property. KFC Corp., based in Lousiville, Ky., and Taco Bell Corp., based in Irving, Calif., are subsidiaries of Yum! Brands Inc., a division of Pepsico Inc. of Purchase, N.Y.
Construction and financing details were not made available. But other Taco Bell/KFC dual locations in the state range between 2,300 SF to 3,085 SF.
Brandon Barber, chairman and CEO of The Barber Group in Springdale, is the sole member of BLB.
Siloam Church Gets New Home
The Second Baptist Church of Siloam Springs is finalizing plans on a $750,000 project that will more than double the church’s current size.
The new church will be located on 5.6 acres at 1950 E. Arkansas Highway 412. It will be 10,000 SF and include a sanctuary, fellowship area, Sunday school and nursery. Pastor Harold Thornton said the church averages about 50 people and that the new facility will have the capacity to hold 250 people in the sanctuary.
The church is currently holding services in about 4,500 SF at the Arkansas Baptist Assembly at 17859 S. Arkansas Highway 59 in Siloam Springs.
Financing for the project has not been determined.
Second Baptist Church will serve as the general contractor.
Dennis Becker of Design Direction LLC in Fayetteville is the architect.
Ron Homeyer of Civil Engineering Inc. in Siloam Springs is the engineer.
Despite some construction delays, the project is scheduled for completion in September.
Gaines Moving Dentist Office
Karla K. Gaines DDS PA of Rogers is constructing a new office that will be valued at about $500,000 upon completion.
The dentist is currently located at 801 S. 7th St. in Rogers, and the new location will be 802 N. Dixieland Road. Plans call for a 2,900-SF facility.
Financing details were not made available.
Gaines purchased the 0.55-acre property from Crossroads Properties Inc. of Rogers in November 2004 for $70,000. Members of Crossroads were Stephen W. Butler and Bernard and Mary Weimholt.
Natural Builders Inc. of Rogers is the general contractor.
Ken Shaner of Rogers is the architect.
Freeland-Kauffman & Freeden Inc. of Rogers is the civil engineer. Burrows and Associates Engineering Consultants Ltd. is the mechanical engineer.
The project is scheduled for completion in April.