Foster Group Breaks Ground on $8M Living Center
by July 26, 2010 12:00 am 89 views
(June mortgage reports are available by clicking here.)
Foster Hospitality Group LLC of Springfield, Mo., recently began moving dirt on 6 acres that will eventually become a 67-unit assisted living facility at 4461 N. Crossover Rd. in Fayetteville. The permit valuation on the 58,747-SF building is $8.37 million. The facility will be named Culpepper Assisted Living.
The company, under its Fayetteville Assisted Living LLC, purchased the land for $600,000. FAL recently closed on a $7.4 million mortgage from Guaranty Bank.
The company will be its own general contractor and an in-house architect has designed the structure.
Jorgenson & Associates of Fayetteville is the civil engineer. Crossland Construction of Rogers is a doing some of the grading work. Northwest Electric Inc. and Fayetteville Mechanical, both of Fayetteville, will also be subs.
Foster operates eight total assisted living facilities, including two in Arkansas: one in Jonesboro and one in Springdale. The Springdale location is also called Culpepper Assisted Living.
Between 40 and 50 skilled and nursing jobs will be created when the facility is opened. Construction is slated to be complete by May 2011.
Delta Electronics Finds Fayetteville
Delta Arkansas Investors LLC, recently purchased Lot No. 40 of Mountain Ranch Phase II-A in Fayetteville for $728,000.
The land was purchased from Coco Mountain Ranch LLC, previously owned by Gene Cauley, the former Little Rock lawyer who last year was convicted of defrauding clients of more than $9 million.
The registered agent for Delta Arkansas is Harold Mueller. Mueller is an employee at EVS Realty Advisors Inc. of St. Louis.
The site is 4.5 acres and the group has plans for a 36,000-SF building that will be the home of the Arkansas offices of Delta Group Electronics.
DGC provides light manufacturing of electronics, wiring harnesses and electronic assemblies for various industries from aerospace to entertainment. The company has a facility in Prairie Grove that employs about 50 people and will move all operations into the new building.
Delta Arkansas Investors has selected a general contractor and an architect, but will not disclose that information until its groundbreaking ceremony.
The company expects to begin construction by mid September.