Developers turn dirt on $4.2 million neighborhood on Wallis Road in Rogers
by July 5, 2018 11:35 am 4,013 views
Groundbreaking for a new neighborhood in southwest Rogers was held June 14.
The $4.2 million project is called Savannah Estates, located on Wallis Road and situated between the Liberty Bell South subdivision and Pinnacle Memorial Gardens.
The land owners are John George of Springdale and Nathan Fairchild of Rogers. Their JONA Development LLC acquired the land (20.75 acres) earlier this year in two separate deals for a combined $905,000, which equals $1 per square foot. The previous landowners were the Blevins family (4.83 acres) and a limited liability company owned by Johnelle Hunt (15.92 acres).
“We’re excited to turn a grass field into something useful for 57 families,” George said. “Pinnacle Gardens is a beautiful neighbor, and so is Liberty Bell to the west. This will put a good inventory of homes into the city of Rogers and will be good for the economy for the city of Rogers.”
Savannah Estates will have 57 single-family lots, and Buffington Homes of Fayetteville is the exclusive homebuilder and developer. The company’s in-house real estate division, Neighborhood Realty, will be the exclusive listing agent.
Clay Carlton, a principal of Buffington Homes, said homes in Savannah Estates will range from approximately 2,900 square feet to 3,700 square feet, and in listing price from $115 to $135 per square foot. He compared the neighborhood to another Buffington Homes neighborhood in Rogers, Silo Falls.
“We’re just about done building in there, so [work-wise] this neighborhood will essentially be replacing that one,” he said. “It’s a growing area with a lot of amenities.”
Bates & Associates in Fayetteville is the civil engineer and Adams Excavating in Rogers is doing the excavation and site work. Lots could be ready for construction by the end of the year.
Grand Savings Bank in Bentonville is the primary financier the project, with a one-year construction loan of $2.15 million.