$36M million mixed-use project opens in downtown Bentonville

by Paul Gatling ([email protected]) 1,994 views 

Bentonville firm Newell Development, which has developed multifamily properties throughout the city, has unveiled a $36 million mixed-use property two blocks east of the downtown square.

The company held a ribbon cutting Oct. 4 for the 81-unit The Howard on Central (321 S.E. Second St.). Conifer, owned and operated by chef Matt Cooper, is the on-site restaurant specializing in sustainably sourced, gluten-free regional cuisine.

Newell Development principal Jake Newell is bullish on the property’s location adjacent to the 40-mile Razorback Greenway trail system. He also touts The Howard’s art collection from curator Matt Miller and photographer Henry O. Head, unique design features and modern amenities.

“Not only is The Howard a beautifully constructed property in the lively downtown area, but its location can’t be beat for people interested in switching to more sustainable modes of transportation for everyday activity,” Newell COO Mitch Moore said. He noted that the development’s central goal is to enhance residents’ quality of life by promoting healthy living and reducing a reliance on cars.

The Howard features controlled access to the building and apartments, all-inclusive
utility package for water, electric, valet trash, high-speed internet and smart tech home control
from a phone or computer. Residents enjoy access to large interior and exterior gathering
spaces, the “Nook” distributed workspace, a cardio room, community kitchen, interior and
exterior bike storage, and wash station.

Trailside Partners LLC owns the property. Multiple investors have a stake in Trailside, including Ray Osment, Randy Woodard and Ted Herget of Jonesboro and Newell.

Paragould-based First National Bank backed construction with a $14.78 million loan.

Wheelhouse Real Estate Management, Newell Development’s property management platform, manages the property. Other companies involved include Grundfest Construction, Hufft Architecture and Environmental Design Group.

Moore said nearly 90% of The Howard’s studio, one- and two-bedroom apartments are leased.