Flintco Inc. is completing construction on the new Duncan Avenue Apartment complex, valued at $13 million.
The University of Arkansas student housing project will have 200 fully furnished bedrooms.
UA students with at least 45 completed hours are eligible to live in the new Duncan Avenue apartments.
The four-bedroom units come in one- and two-bathroom floor plans. Each complex will be three stories.
All bedrooms will be leased out separately. Each unit will include a washer, dryer and fully furnished kitchen.
The complex’s exterior will resemble historic brownstone homes and each unit will have its own exterior entrance.
The development will have some LEED features.
Barber Unloads Kerelaw Land
Brandon Barber, through his Lynnkohn LLC, sold about 126 lots in the Kerelaw Castle subdivision in Bentonville to C Holdings LLC on June 9 for $4.59 million.
Mike Donnell, chief financial officer for Chambers Bancshares Inc., the holding company for Chambers Bank of North Arkansas, is the registered agent for C Holdings LLC.
Kerelaw Castle is a 153-lot single-family subdivision near Town Vu Road in Bentonville and adjacent to Stoneburrow subdivision.
Kerelaw Castle was developed by Palmco Properties LLC. John Alford of Fort Smith is the registered agent for Palmco Properties.
The lots included in the sale are all undeveloped.
LDS Ward Builds Centerton Stake
Jacobsen Construction Co., based in Salt Lake City, Utah, purchased a $3.22 million building permit from the city of Centerton for the construction of a 16,551-SF stake, the name given to a Latter-day Saints worship facility, for the Bentonville ward of the Church of Jesus Christ of Latter-day Saints at 950 Seba Rd.
The stake was designed to accommodate between 900 and 1,000 during weekly services.
In addition to a chapel, the stake will have an activity hall, offices for church bishops, classrooms and meeting rooms.
Butler Rosenbury & Partners Inc. of Springfield, Mo., was the architectural firm for the project.
The facility is located on 5 acres, owned by the LDS Bentonville ward.
OK Buffet Building Finds New Owners
Tom and Noriko Fath owned a 35.17 percent interest in the property located at 3716 N. Mall Ave. in Fayetteville’s CMN Business Park II. Creekside Center LLC, owned the remaining 64.83 percent interest in the property. Both parties sold the property to a group of four investors for $2.8 million on June 11.
Dale Briggs, registered agent of D. Briggs & Associates/Creekside LLC, purchased an undivided 25 percent interest in the property. City Electric Investment/Creekside LLC, whose registered agent is James Penick III, purchased an undivided 25 percent interest in the property. John Flake, through his JFK Family LP, purchased an undivided 25 percent interest in the property and CAC Holdings Inc. purchased an undivided 25 percent interest in the property. Steven Brooks is the registered agent of CAC.
The building is 21,700 SF and was built in 2006 by Dixie Management & Investment LP.
Tom and Lydia Ledford, Al Chang and Tom Fath Sr. are all officers for the Creekside entity.
Ben Israel was the registered agent but has since resigned from Creekside Center LLC.
CAC Holdings Inc. received a $2.95 million loan from Liberty Bank of Arkansas for the purchase.
Crown Builds Rogers Townhome Development
Crown Custom Homes Inc. purchased 33 building permits for a total of $1.83 million for the construction of a 33-unit townhome development south of Price Lane in Rogers.
The homes will be located on 15th Place, a new road under construction perpendicular to Price Lane, running south.
The community, named St. James Place, is being developed by Jerry Hawkins, owner of Crown Custom Homes Inc.
The units will range from 1,350 SF to 1,875 SF. All homes will be two-stories and will have either two or three bedrooms.
The Engineering Group Inc. is the engineering firm for the project.
The community will be gated and is expected to be complete during the first quarter of 2009.
Crye-Leike Adds Corporate Office
Boyd-Corley Construction LLC purchased a $1.35 million building permit for a second Crye-Leike Realtors office at 3003 W. Walnut St. in Rogers
The new office will be located behind the existing Crye-Leike office on Walnut. The office will house many of the company’s corporate functions, leaving the original office open for residential real estate agents and staff
The office will also be about 14,000 SF.
It is located on the 3.28 acres purchased by Harold Crye, co-owner of Crye-Leike Realtors, through his Harold E. Crye Revocable Living Trust in December 2005.
Bentonville Adds Warehouse Space
Milestone Construction Co. purchased a $1 million building permit for the construction of a warehouse to store supplies for the Bentonville utility departments’ daily operations.
The warehouse is located on 6.28 acres that is owned by the city of Bentonville.
The warehouse is expected to cost the city $1.05 million.
Sage Purchases Wedington Shop
Sage Partners, through its Shoppes at Wedington LLC, is developing a multi-tenant retail center at 3484 Wedington Dr. in Fayetteville.
The group purchased 2.24 acres of land for the development from Bank of the Ozarks on June 12 for $976,000.
The shopping center will have a total of 15,750 SF. The units will range in size from 1,750 SF to 15,750 SF depending on the needs of the tenants.
Lease rates will range from $20 to $21.50 per SF.
Construction is slated to start by August and expected to be complete in January 2009.
David Erstine of Sage Partners is the leasing agent for the property.
C.R. Crawford Construction has been named the general contractor. Vince Poellet of Miller Boskus Lack Architects PA is the project architect. Mike Morgan of McClelland Consulting Engineers Inc. completed the civil engineering work.