$70 million Conway project announced
by June 29, 2018 10:32 am 7,263 views
The first project at the “Central Landing” development on the site of the former Conway airport will break ground this summer. Central Arkansas developer and Burkhalter Technologies Inc. CEO, John Burkhalter, announced plans to build a $70 million development that incorporates 339 luxury apartments into 18.7 acres of the mixed-use development.
“Conway’s economy is strong and growing. We believe the Conway area market is ready for an upscale apartment home community that provides the amenities, services, and standard of living that professionals can expect from a Fountaine Bleau property,” said Burkhalter. “Central Landing is a perfect location for this style of luxury apartment home living. We look forward to being a part of this vibrant and engaging community.”
The Central Landing development is a 150+ acre redevelopment of Conway’s former municipal airport site. In December of 2017, the Conway Development Corporation purchased the site from the city of Conway and has invested more than $15 million in related transportation infrastructure. Conway Mayor Bart Castleberry said that the announcement was a positive sign of things to come.
“The 6th street overpass, Central Landing Boulevard, and the extension of Bruce Street are already changing the way people move around the city. Today’s announcement shows that those projects also change the way our city develops,” Castleberry said.
The Central Landing project qualifies as an “Opportunity Zone,” a new federal economic development designation that provides a tax incentive for investors to re-invest unrealized capital gains into business activities taking place within the zone.