The El Dorado Murphy Arts District broke ground on a new amenity on Wednesday. Developers and community leaders started work on The Haywood Hotel, a 70-room boutique hotel that will employ 20 workers, to be located at 119 W. Locust Street in the downtown El Dorado arts region.
The project is expected to host 22,000 overnight guests and drive an estimated $250,000 in new tax revenue for the city.
The ceremony was held at 119 W. Locust Street, one block off the downtown El Dorado
square. Among those in attendance were elected officials and community leaders, such as
Rex Nelson, Claiborne Deming, Madison Murphy and other members of The Haywood
development team of Newmark Moses Tucker Partners, Clark Contractors, AMR Architects,
Beechwood Hospitality and Bancorp South Bank.
“Watching South Arkansas flourish in new and unique ways is fantastic,” said Ray
Nolan, senior vice president of development at Newark Moses Tucker Partners, one of the developers of the project. “The Haywood is sure to be another diamond in this special part of Arkansas and is an integral part of the success of the arts and entertainment movement in El Dorado.”
The Haywood is budgeted at over $14 million, and is scheduled to open in May 2020. It is the latest addition to the multi-million dollar Murphy Arts District, the first phase of which was completed in August 2017.