High-End Housing Coming to Downtown Bentonville

A father-daughter duo is ready to test an entirely untested market — high-end housing in downtown Bentonville.

David Motheral and Kathleen Moler have plans to put up five upscale townhomes — priced between $461,000 and $589,000 — at the site of a modest single-family home just one block south of the square.

The zero lot line properties — which will face a public parking lot looking north toward the square — range in size from 1,846 SF to 2,356 SF and are slated for 210 S.E. A St.

City officials have thrown their support behind the project, with a caveat that three of the five brownstone-style residences must be pre-sold before construction can begin.

Moler and her husband are planning to live in one of the units, so only two additional units need contracts.

“We’re hoping to have three contracts locked in by Jan. 1 so we can start construction as soon as possible in the spring,” Moler said.

The property was rezoned in March from downtown edge to downtown core. Moler has been describing the project to potential buyers as having a Pinnacle Country Club-style home with the amenities of downtown.

“The idea being that rather than a golf course and clubhouse, you get seven restaurants, community events, a trail system, world-class museum and the top-rated hotel in the world for visitors,” she said. “That has really been resonating.”

Real estate veteran Meza Harris with the Rogers office of Lindsey & Associates is leading the marketing efforts for the project.

Wes Burgess of Crafton Tull is the lead designer, Arvest Bank is providing financing and General Solutions Group is the general contractor.

“The developers have a very good vision,” said Jason England, commercial banking team leader with Arvest Benton County. “To make the land costs work, you need higher density downtown. We’re excited to see the demand for that upscale, non-traditional downtown living in Bentonville.”

Moler, an executive with Wal-Mart Stores Inc., has lived in Northwest Arkansas for six years, most of it living in a loft apartment on West Central Avenue in downtown Bentonville.

She saw the area’s growth first-hand, and said a residential project like this one has always been in the back of her mind.

She was waiting for the right time to strike.

“This is the perfect opportunity,” said Moler, who is also a past board member of Downtown Bentonville Inc. “People want to live close to downtown, and new construction is what people want. That helped us make the decision.”

The 1,300-SF home currently on the property was bought one year ago by Anderson Holdings LLC for $170,000.

Anderson Holdings is the entity backed by Motheral, who has three decades of development experience in the Dallas/Fort Worth area. He has led the development of multiple ventures, both commercial and residential, and also founded Fort Worth South Inc., a group that spearheaded the redevelopment of the Fort Worth Medical District.

The pioneering development is another indicator of how trendy the downtown locale has become for business ventures of all types.

New construction in this price range might be considered a bold move in other downtown areas. In bustling Bentonville, it’s simply another sign of growth.

“I don’t think there is any doubt whatsoever that downtown Bentonville is red-hot,” said economist Kathy Deck, director of the Center for Business & Economic Research at the University of Arkansas. “This is the kind of experiment you would expect to see in a community that is thriving, and I don’t think it’s surprising to see developers see if they can cash in on that and charge premium prices for the location.”