Twin Falls Builds Out, Farmington Expects Growth

After a delay of nearly a decade, the potential of the Twin Falls subdivision in Farmington is finally being realized.

Conceived in 2004 and outfitted with infrastructure in 2005-06, Farmington’s premier housing development languished throughout the Great Recession.

“Before we could get it done, the economy collapsed,” said Twin Falls developer and real estate broker Keith Marrs. “It took longer to do than what we thought.”

But when a strong economy returned to Northwest Arkansas, Twin Falls exploded with activity. In the last two years, all but three of the subdivision’s 127 lots have been sold, and many of those lots now have homes.

Marrs, founder of Legend Realty Inc., said the “sweet spot” for construction is between 2,400 and 2,800 SF, and that most homes are selling between $300,000 and $350,000. Buyers include management from Wal-Mart Stores Inc., Tyson Foods Inc., J.B. Hunt Transport Services Inc., and administrators from the University of Arkansas, Marrs said.

Residential construction has been accompanied by an increasing interest in commercial development. In 2013, Dollar General came to town, and last year, Casey’s General Store and a Walmart Neighborhood Market arrived. This year, Farmington welcomed Kum and Go.

According to the U.S. Census, Farmington is a city on the rise. In 2010, the population was 5,947, but by the 2013 estimate, the population was 6,304. In the last two years, Farmington has issued 103 permits with a total value of $33.4 million for new residential construction, according to public records.

City business manager Melissa McCarville said developers are figuring out that about 26,000 cars travel through Farmington each day. The secret’s also out that Farmington is only four miles from the University of Arkansas, and is a straight shot east down Arkansas Highway 62.

“We knew it was only a matter of time,” she said. “People are just beginning to realize we’re here.”

Farmington scored a coup late last year when Marvin’s IGA grocery store closed shortly after Walmart arrived. The 23,000-SF building on Main Street was immediately purchased for $975,000 by Emily Tan, vice president of Oops Inc., which sells factory seconds and overruns on merchandise ranging from artificial flowers to patio furniture. Oops is moving out of Tontitown and into the Farmington location.

Along with Twin Falls and the continued success of Valley View Estates, a golf course community west of Farmington, a 52-unit duplex subdivision inside the city limits is in the works by builder Rausch Coleman Homes.

Farmington still struggles to generate enough revenue to expand city services, McCarville said. But if people keep building homes in Farmington, that strain might begin to ease.

“We’ll see residential development continue,” McCarville said. “I think things will follow Walmart.”

Now that Twin Falls is finally wrapping up, Marrs said he can breathe a sigh of relief. He had developed subdivisions before Twin Falls, but none were as big, and they were completed before the recession. With Twin Falls behind him, and his best year — 2014 — under his belt, it’s time to think about the future.

“There’s a lot of commercial interest [in Farmington],” he said. “In the next three to five years I think you’ll see a really big boom.”