Georgia Group Buys Land With Eye on Student Housing

Another student housing development is in the works for Fayetteville — perhaps.

Our real estate watchers tell Whispers that a Georgia real estate development company paid $2.3 million for about 26 acres just behind the Best Windsor Windsor Suites. The property sits between Hollywood Avenue and South Futrall Drive, just off Interstate 540.

The buyer was Polo Club of Athens LLC. The property previously belonged to Terry and Sun Dill and Hansa Bhakta, widow of the late Tom Bhakta, who died in early 2011.

Terry Dill and Tom Bhakta partnered in the development of several hotel projects in Northwest Arkansas in the boom days, including the Windsor Suites in 1998.

Polo Club is owned by J.H. Barrett Properties Inc., which has a portfolio that includes student-housing properties in Georgia and Florida.

As we understand it, Barrett has no immediate development plans for the Fayetteville property, but will wait to see how the market shakes out.