Chaffee Trust adopts new land reuse plan; agrees to sell commercial property
by May 21, 2009 7:18 pm 81 views
The Fort Chaffee Redevelopment Authority formally approved a significant change to a land reuse plan that was originally created in 1997.
A reuse plan was drafted and approved when the about 7,000 acres was first transferred to the FCRA in 1997.
The new plan situates about 20% of the remaining land for residential (single-family and multifamily) with a mix of residential-commercial-office space buffering the residential areas from the expected route of Interstate 49 and industrial areas. Several new areas were set aside for institutional (schools, fire stations, government facilities, etc.) use.
FCRA Board Chairman Jerry Stewart said during the Thursday (May 21) afternoon meeting that the new plan is flexible in that the board can adjust zoning and other particulars if an economic opportunity arises.
FCRA Director Ivy Owen said the next step in the process is to modern the “archaic” design/review rules that now govern development at Fort Chaffee. He said the goal is to craft new development standards that are consistent in dealing with developers.
PROPERTY SALE
The FCRA board also approved the sale of 19 acres of commercial property located in the northeast corner of Arkansas Highways 59 and 22 in Barling. If the deal happens, the land will be sold for $19,000 an acre, or $285,000 total. Hot Springs-based TJS JT Properties LLC has a plan to create a mixed-use development with a convenience store (gas station) being the first piece built. The development could also include retail, offices, restaurants, hotels and apartments, according to Bob Cooper, an agent with R.H. Ghan Commercial Properties who is representing the FCRA on the deal.
“This is a good start (for commercial development) … This is good for the city of Barling,” Cooper told the FCRA board.
The deal also includes a complicated set of options that would permit TJS to buy a contiguous 39.9 acres for about $750,000.