Walton-led group announces development timeline for properties in downtown Springdale
by June 12, 2018 2:11 pm 3,907 views
In June 2014, a limited liability company tied to the Walton family bought two notable commercial buildings in downtown Springdale for $1.22 million. Four years later, the waiting and wondering about when future redevelopment of those empty buildings may occur is over.
Springdale Downtown LLC, owners of the former Ryan’s Clothing store and the adjacent San Jose Manor in the 200 block of East Emma Avenue, announced Tuesday (June 12) plans to renovate the 5,425-square-foot Ryan’s building and raze the 24,191-square-foot San Jose Manor property. Site cleanup work will begin in mid-July, with renovation and construction scheduled to begin in 2019.
Future construction on the 0.71-acre site, which runs along Emma Avenue from Spring Street to North Commercial Street., will include a mixed-use commercial development that will feature restaurant, retail and office space. Potential tenants were not disclosed.
“We are elated with this news that Springdale has anticipated for some time now,” Perry Webb, president and CEO of the Springdale Chamber of Commerce, wrote in an email to Talk Business & Politics. “The renovation of the old Ryan’s and the new construction being planned are important steps toward the more vibrant downtown we all are working toward. There is no question this development will be first class and be a tremendous addition to our city.”
Ropeswing Hospitality Group, the Walton-backed firm behind downtown Bentonville restaurants The Preacher’s Son and Pressroom and the event venue Record, is working to create restaurant and retail concepts for the future space, according to a news release.
The property is one block west of Tyson Foods’ new downtown office, which opened this past November. The refurbished building is situated on the site of the company’s original headquarters and houses about 300 information technology (IT) employees. Tyson Foods also opened a renovated office building in the 500 block of Emma Avenue in 2016 that houses about 100 employees.
Webb said Tuesday’s announcement times well with Invest Springdale, a half-day summit scheduled on Thursday at The Jones Center in Springdale. The event is designed to encourage and promote development in the downtown area.