Colliers Dickson Maps-Out Mountain Ranch Development (Real Deals)

Colliers Dickson Flake Partners has announced development plans for the 460-acre mixed-use Mountain Ranch property located north of Sixth Street in west Fayetteville.

Colliers teamed up with Jorgensen & Associates Engineers in Fayetteville, to design a multi-phase plan for the development to allow for residential, multi-family and commercial space.

Construction costs for the entire project are estimated at more than $300 million.

Cobblestone Homes purchased 117 residential lots in Phase I of the Mountain Ranch development in October 2007 for $15.4 million.

Cobblestone Homes will serve as the general contractor for the units and prices will range from $170,000 to $300,000.

In addition to the residential units, Phase I of the project will include a 360-unit multi-family complex.

SC Bodner Co. is developing the upscale, four-story apartment complex, which will include elevators, a resort-style swimming pool, a fitness center and a cyber café.

The units will range from one to three bedrooms.

Phase II of the project, which will be located along Shiloh Drive, will include office and commercial space, a hotel, shopping centers and town homes.

Colliers is in the process of working with a potential tenant to develop the Phase II units.

Phases I and II combined contain approximately 133 acres of land.

Phase III will encompass an additional 50 acres and will be divided into 175 residential lots which will be located on the property’s highest elevation. Homes in the project’s third phase will range in size from 5,000-SF to 15,000-SF.

The remaining 315 acres will be developed over the next seven to 10 years and will include an estimated 675 new homes.

Coco Mountain Ranch LLC of Little Rock is the owner of Mountain Ranch. Gene Cauley, registered agent for Coco Mountain, purchased the development from Tom Terminella in July 2007 for $17 million.

Brad Howard is the project manager for Coco Mountain Ranch.

Flintco Creates Legacy Village

Northwest Arkansas Senior Services Inc., a nonprofit organization governed by a 10-person board, is developing Legacy Village, a 48-acre adult living neighborhood located in north Bentonville across from the site of the Crystal Bridges Museum of American Art.

Flintco Inc. purchased four building permits from the city of Bentonville for a total of $4.2 million. The permits are for the construction of four of ten assisted living homes, called The Green Houses, located on the Legacy campus

There will be a total of 10 houses constructed. Each home will be 7,646-SF and include 10 mini-apartments and a hearth area for family-style dining and entertainment. The Green Houses will offer assisted living for seniors 62 years of age and older.

Two of the homes will be open to elders that live at or below the poverty line.

The cost estimate for the construction of all 10 green houses is more than $10 million.

In addition to the Green Houses, Legacy Village will have 32 individual living homes, called the Garden Homes.

The Garden Homes will range from 1,400 SF to 2,900 SF and will have two or three bedrooms and two to three bathrooms.

Each unit will have an attached two-car garage, a private porch and patio, custom cabinets and granite countertops.

Couples can choose from six different custom finishes for the homes.

Seniors will pay an entry fee, which ranges from $220,000 to $403,000 (which can be fully refunded when the couple vacates the home) plus monthly fees.

JDP Construction Inc. is the general contractor for all of the Garden Homes. Twenty-two homes are currently under construction.

A third phase for the Legacy Village is also in the works.

Crystal View Cooperate Apartments, a 60-unit, three-story apartment building is in the planning stages.

The apartments will offer individual units plus a library, craft room, common living area and a café.

Capital for many of the projects is coming from community donations. Arvest Bank is providing financial support for the organization and the federal government is providing some assistance for the two below-poverty houses.

Kenyon Morgan is the architect, developer and CEO of Legacy Village.

Oakley Chapel Makes Move

Nabholz Construction Corp. purchased a $2.5 million building permit from the city of Rogers for the construction of a 12,500-SF addition for the Oakley Chapel United Methodist Church. The addition will house an education and family life center.

The addition will be constructed south of the existing church. Once the addition is completed the church will be moved south and attached to the new structure.

Arco Excavation Inc. completed the site work for the project and Fayetteville Mechanical Contractor Inc. is the mechanical sub-contractor for the project.

The project is estimated to take eight months to complete.

The Oakley Chapel Church is located on the corner of 40th and Walnut streets in Rogers. Built in 1896, it is one of the oldest buildings in Rogers. It will cost about $250,000 to move and remodel the church.

Arvest Bank is financing the project.

Future plans for the church include the construction of a new worship center south of the new addition to better accommodate a growing congregation.

Wal-Mart Carves Carpet Factory

Wal-Mart Stores Inc. purchased the former Aladdin Manufacturing Corp. property for $3 million on December 13.

Wal-Mart will be sharing the property with Aladdin, which manufactures carpet and rugs under the name Aladdin Carpets.

The 14.51-acre property has two buildings that have a total of 133,958 SF.

A Wal-Mart representative said the company plans to use a portion of the building for storage and office space.

Aden Family Tags Talamore Home

John and Kristal Aden purchased an 8,000-SF home in Bentonville’s Talamore Subdivision for $1.61 million on December 10.

The Adens purchased the two-story home located at 11329 Pembrook Circle from Robert and Deborah Fleener.

The home sits on 3.41 acres and includes an in-ground swimming pool, three fireplaces and six-and a half bathrooms.

John Aden is the former president of MAC Tools and the current senior vice president of Wal-Mart International.