Fayetteville Approves Hill Place Student Housing Development (Real Deals)

The Fayetteville City Council approved the Hill Place multi-family development at Sixth Street and Hill Place during their regular meeting June 3.

The 28-acre student housing development is valued at $45 million.

Hank Broyles was the original developer for the land. Broyles partnered with Place Properties Inc. to develop the student housing project.

Broyles purchased the land in December 2007 for $6 million. Place Properties, which is based in Atlanta, Ga., and develops student housing, will purchase the land from Broyles and will begin construction on the buildings in late July or early August.

The development will provide housing for University of Arkansas students and will have 16 apartment buildings, 288 units and 840 bedrooms.

Ryan Griffis, development manager for Place Properties, said there will be a mix of four-bedroom, four-bathroom units, two-bedroom, two-bathroom units and one-bedroom, one-bathroom units. All kitchen appliances will be included.

Students will sign leases for individual bedrooms, not entire units.

All rooms will be fully furnished and lease rates will include water, sewer, cable, electric, Internet and trash services.

The property will have on-site management, a courtesy security officer and a community assistance program, which is similar to university dorm’s resident assistance programs.

A clubhouse will also be located on the property.

The building will have a swimming pool, two tanning beds, a 60-inch television with video game console, a movie area, a cyber café where students can get coffee and use printing and computer portals, poker tables, pool tables, a Golden Tee game machine and additional games.

The clubhouse will be the first building constructed and will include a model room.

All units will be open by the start of the 2009 fall semester.

Place Properties will oversee all construction and management.

After the sale of the land Broyles will no longer be a developer in the project.

BioBased Companies Completes Headquarters

Kinco Constructors LLC purchased a $6.6 million building permit from the city of Fayetteville for the construction of BioBased Family of Companies’ headquarters in Fayetteville’s research and technology park.

BioBased purchased 19 acres on Cato Springs Rd. from the City of Fayetteville for $940,000.

Fayetteville’s Water Department Maintenance Facility previously occupied the land. The building was demolished to make room for the BioBased headquarters.

The 30,000-SF, two-story building will be used for the company’s research and production. The building will have 16 laboratories.

Mobley Architects Inc. was the architectural firm for the project.

McClelland Consulting Engineers Inc. was the civil engineering firm.

JLA Engineers Inc. was the structural engineering firm and Engineering Elements PLLA was the mechanical, electrical and plumbing engineering firm.

The building has been designed to maximize the use of natural light and the property will have a rainwater harvesting and diversion system.

The surrounding land will have 96 native Arkansas trees and more than 5 acres of native prairie grasses.

The parking lot will have reserved parking spaces for car pool participants, low emission vehicles and bicycles.

BioBased will seek LEED certification when the building is complete.

Construction is expected to be complete in August and the building will be occupied in September.

The company now operates out of office space in Rogers.

Crossland Constructs First Johnson Hotel

Crossland Construction Co. purchased a $3.4 million building permit for the construction of a 49,500-SF TownePlace Suites by Marriott Hotel on 48th Street in Johnson.

The hotel will have four stories and 94 rooms.

It is located in 1.97 acres, which was purchased by Marriott for $945,000.

TownePlace Suites is an extended-stay hotel. The Johnson location will have three floor plans: studio, one and two-bedroom suites.

Each suite includes a fully equipped full-sized kitchen. The hotel will have an exercise room and swimming pool.

This is the second TownePlace Suites in Northwest Arkansas.

The hotel is expected to be complete by January 2009.

CDI Starts Arvest LEED Construction

CDI Contractors LLC purchased a $2.47 million building permit for the construction of an 8,080-SF LEED-certified Arvest Bank.

The full-service branch will include a rainwater collection system for irrigation use, additional skylights for natural light use and highly reflective roofing tiles.

The parking lot will feature a permeable paving material that will allow excess rainwater to be absorbed by the ground underneath.

The branch will replace the existing Joyce Boulevard Arvest branch.

The existing branch will become occupied by Waco Title.

The new location will employ between 30 and 35 associates.

Architectural work for the branch was completed by Arvest’s in-house architectural department.

The branch is expected to open in late 2008 or early 2009.

Daughters Buy Creekside Home

Robert and Sandra Daughters, trustees of The Daughters Family Trust, purchased lot 49 of Rogers’ Creekside Subdivision from Ronald and Cherie Weaver for $725,000 on May 15.

The two-story home is 4,435 SF and has four and a half bathrooms. It sits on 0.56 acres. Crown Custom Homes built the home in 2007. The property includes a gazebo and swimming pool.