Retail, Restaurant Development Project Announced In Jonesboro (UPDATED)

by Michael Wilkey ([email protected]) 148 views 

Editor’s note: A previous version of this article stated that ASU would have no role in the development of the property in this project. That information was inaccurate and has been corrected in the current version of the story.

A 26-acre plot of land in northeast Jonesboro is being eyed for retail and restaurant growth in a busy area of town, one of the developers for the project said Monday.

Josh Brown, with commercial development firm Haag Brown, said the land will be developed where Red Wolf Blvd., Johnson Avenue and U.S. 49 north all meet. While nothing is set in stone, Brown said the project has the potential to be a $30-$40 million development.

The land, which is owned by Arkansas State University, is south of the proposed Greensborough Village development, southwest of NEA Baptist hospital and within yards of Centennial Bank Stadium.

In a statement Monday morning, Brown said the project will have an impact in the region.

“We are excited about working on what we feel will be the most impactful retail development in an area where growth in Jonesboro is headed,” Brown said. “As an alumnus of A-State, I know how this will enhance both the university and the community of students, faculty and staff that make up Arkansas State.”

Brown pointed out the university has a nearly $350 million annual impact on Northeast Arkansas as well as being one of the region’s largest employers.

Arkansas State University Chief of Staff Shawnie Carrier said the development of the property will give the university an opportunity to leverage the land to its fullest potential.

Carrier cited a study done earlier this year by the Arkansas State University Delta Center for Economic Development, saying the university has a total economic impact of $1.2 billion across the entire state.

“A-State will work closely with Haag Brown to develop this property to its fullest potential. We are interested in leveraging university assets to generate revenue and contribute to the growing NEA economy. We are doing everything possible to make up for flat state funding,” Carrier said.

“Haag Brown responded to the university with a detailed development plan for the site after A-State expressed interest in finding commercial development partners. Haag Brown was qualified through an RFQ process that was issued March of 2013,” she added.

Haag and Brown have been busy in recent years, developing much of the area along Red Wolf Blvd. The road is a main access point for people wanting to visit the university.

Among the areas developed are a series of restaurants – where the former NEA District Fairgrounds stood – as well as several retail stores in the area.

Brown said they have developed between 20 and 30 locations going north and south on the former Stadium Blvd.

While not discussing future tenants, a development plan has already been created. The plan took a look at who might want to locate in the area, Brown said.

Several meetings have been held with possible restaurant and retail owners in the past week or so, Brown said.

Carrier said the area will be developed in a piecemeal approach, similar to the fairgrounds project.

However, there is still a lot of work to be done, Brown said, noting the land still must be surveyed.